Business Insurance
New York state filed civil charges on Wednesday accusing Endo International PLC of insurance fraud for misrepresenting the safety and efficacy of its opioid drugs, adding fuel to the nation's opioid crisis.
Posted: Jun 11, 2020
Drivers working for ride-hailing services such as Uber Technologies Inc. and Lyft Inc. will be considered employees under California's new gig worker law, the state's leading industry regulator said on Thursday.
Posted: Jun 11, 2020
A report by Fitch Ratings Inc. predicts that Japanese nonlife insurers' premium growth will shrink in the year ending March 2021 due to the coronavirus pandemic.
Posted: Jun 11, 2020
Insurance Claims Africa plans to sue insurers in South Africa for declining COVID-19 pandemic-related business interruption claims of hospitality and travel sector.
Posted: Jun 11, 2020
Poland-based coal mining firm Jastrzebska Spolka Weglowa SA has suspended production at two of its mines following an increase in coronavirus cases among its workers.
Posted: Jun 11, 2020
Egypt's Financial Regulatory Authority said it would cease issuing new licenses for insurance and reinsurance brokers for 12 months.
Posted: Jun 11, 2020
U.S.-based McKinsey & Co. Inc. expects the COVID-19 pandemic to cost Africa $4.8 billion in lost agricultural exports.
Posted: Jun 11, 2020
U.S.-based insurance broker Arthur J. Gallagher & Co. has acquired Australia-based CA Insurance Brokers for an undisclosed amount.
Posted: Jun 11, 2020
Manohar Lal Khattar, chief minister of the Indian state of Haryana, said that the COVID-19 pandemic had cost the state up to 120 billion Indian rupees ($1.6 billion) in lost revenue in the last two months.
Posted: Jun 11, 2020
A Chubb Ltd. unit is not obligated to defend a building operator sued in connection with spraying pesticides because of its coverage’s pollution exclusion, said a federal appeals court Wednesday, in upholding a lower court ruling.
Posted: Jun 10, 2020
Proposals to require police officers to carry professional liability insurance were revived in Minneapolis this week, four years after a similar measure was kept off the ballot.
Posted: Jun 10, 2020
An electrical contractor must pay $25,000 in fines after a worker was electrocuted while attempting to restore power lines after a thunderstorm.
Posted: Jun 10, 2020
An “intolerable odor of human feces mixed with industrial waste” has led some residents to limit their time outside and has hindered efforts to bring economic development to West Valley City, Utah, which filed a lawsuit against a waste-processing sit...
Posted: Jun 10, 2020
Physical training for “Olympic-type competitions in track and flag football” could have triggered a corrections officer’s heart condition and not stress due to work, an appeals court in Florida ruled Monday.
Posted: Jun 10, 2020
Directors and officers liability insurance rates will likely more than double in the wake of the COVID-19 pandemic as insurers respond to increased shareholder litigation over the past three years and future litigation over coronavirus-related exposu...
Posted: Jun 10, 2020
U.S. authorities on Tuesday said they have charged the head of California medical technology firm Arrayit Corp. and an investor in the company, alleging that they had roles in schemes related to COVID-19 claims.
Posted: Jun 10, 2020
AF Group has named Kelly Fusner chief underwriting officer, the Lansing, Michigan-based insurer announced in a statement Wednesday.
Posted: Jun 10, 2020
Four Republican U.S. senators on Tuesday urged the Federal Communications Commission to review whether to revise liability protections for internet companies after President Donald Trump urged action.
Posted: Jun 10, 2020
Evertas Inc. has been granted a license to operate from Bermuda, the Chicago-based cryptoasset insurer announced Wednesday.
Posted: Jun 10, 2020
Credit rating agency A.M. Best & Co. has reached a licensing agreement with Certificial LLC, an insurance verification platform, Certificial said in a statement Wednesday.
Posted: Jun 10, 2020
The U.S. oil and gas industry is paying a hefty price to protect its top brass against potential bankruptcy and investor lawsuits.
Posted: Jun 10, 2020
Catastrophe modeling firm Karen Clark & Co. (KCC) said on Wednesday it expects insured losses of close to $150 million from tropical storm Cristobal.
Posted: Jun 10, 2020
Sanitizing workplaces is considered a top safety protocol as more businesses open amid the COVID-19 pandemic, but the practice can have unexpected costs and risks, workplace risk experts say.
Posted: Jun 10, 2020
The International Olympic Committee is in talks with insurers about compensation following the postponement of the Tokyo Olympics due to the coronavirus pandemic.
Posted: Jun 10, 2020
South Korea-based Hyundai Motor Co. plans to suspend some assembly lines at its No. 3 and 4 plants in Ulsan on June 10-12 as the COVID-19 pandemic continues to drive down overseas demand.
Posted: Jun 10, 2020