Business Insurance
Commercial property/casualty rates increased an average of 9.3% across all lines in the first quarter, according to the Council of Insurance Agents & Brokers’ latest pricing survey, which was issued Tuesday.
Posted: May 26, 2020
Rep. Carolyn Maloney, D-N.Y., a senior member of the House Financial Services Committee, late Monday officially introduced legislation to establish a federal pandemic risk reinsurance program and said an alternative plan backed by some insurers was u...
Posted: May 26, 2020
A shareholder has filed a putative class-action lawsuit against an animal products manufacturer and its directors and officers, charging them with issuing false and misleading information after it revised its earnings projections based on the COVID-1...
Posted: May 26, 2020
A Georgia bankruptcy law firm sued its insurer last week seeking business interruption coverage for income it allegedly lost after courtrooms in the state were closed due to the COVID-19 pandemic.
Posted: May 26, 2020
French reinsurer SCOR SE announced Monday that it would withdraw its proposed dividend to shareholders and its top executive would forgo 30% of his bonus in light of regulatory recommendations issued since the onset of the coronavirus pandemic.
Posted: May 26, 2020
The exclusive remedy provision in Tennessee workers compensation law prohibits a woman from filing a sexual harassment and hostile worker environment claim under state human rights law because her injury did not involve previously reported harassment...
Posted: May 26, 2020
A mid-range estimate of what COVID-19 workers compensation presumption could comprise about 7% of the $18.3 billion estimated annual cost of claims in California prior to the pandemic, according to a report released Friday by the California Workers C...
Posted: May 26, 2020
Houston International Insurance Group Ltd. has named Andrew Robinson as CEO, succeeding company founder and outgoing CEO Stephen L. Way.
Posted: May 26, 2020
The novel coronavirus outbreak and economic fallout are proving to be a bonanza for whistleblower lawyers as the Securities and Exchange Commission cracks down on a range of related misconduct from companies touting sham cures to misuse of federal ai...
Posted: May 26, 2020
Volkswagen must pay compensation to owners of vehicles with rigged diesel engines in Germany, a court ruled on Monday, dealing a fresh blow to the automaker almost five years after its emissions scandal erupted.
Posted: May 26, 2020
Bayer AG said on Monday it had made progress seeking a settlement over claims its glyphosate-based Roundup weedkiller causes cancer, after Bloomberg reported the company reached a verbal agreement on about 50,000 to 85,000 cases.
Posted: May 26, 2020
Illinois lawmakers in both houses on Friday passed an omnibus labor bill that would provide death benefits for first responders who were presumably infected with COVID-19 on duty and workers compensation benefits for essential workers under certain c...
Posted: May 26, 2020
A European Union framework is needed to provide insurance cover for catastrophes such as pandemics and huge cyberattacks, the Federation of European Risk Management said on Tuesday.
Posted: May 26, 2020
Axa S.A. said on Tuesday it would meet the bulk of business interruption claims from some restaurant owners in France after it lost a court case that was seen as a potential precedent for coronavirus-related disputes across the world.
Posted: May 26, 2020
As U.S. businesses reopen, worried workers and their advocates are borrowing a legal strategy commonly used to shut down rowdy topless bars to try and force employers to strengthen protection against further spread of the coronavirus.
Posted: May 26, 2020
Travel restrictions and lockdowns related to the coronavirus pandemic have made commercial property inspections and loss investigations more challenging to conduct, experts say.
Posted: May 26, 2020
As businesses welcome workers back into the workplace, employers must tread a narrow path between gathering information to protect their workers’ health and protecting their privacy, experts say.
Posted: May 26, 2020
South Korean insurers are selling off real estate and office buildings to free up cash to comply with a new capital and accounting standard and in response to the coronavirus pandemic.
Posted: May 26, 2020
Germany-based Volkswagen AG has lost a lawsuit against a single car owner that will pave the way for it paying out in excess of 1 billion euros ($1.1 billion) to thousands of customers.
Posted: May 26, 2020
The tea industry in the Indian states of West Bengal and Assam has lost 21 billion Indian rupees ($278 million) due to the COVID-19 pandemic as production dipped by a whopping 65% in the past two months.
Posted: May 26, 2020
Swedish equity firm Nordic Capital Svenska AB is acquiring local insurer Max Matthiessen AB from insurance broker Willis Towers Watson PLC.
Posted: May 26, 2020
More than 1,000 pubs are watching a test case that has come before the Commercial Court in Ireland over whether insurer FBD Holdings PLC should pay for the losses of pubs closed as a result of the coronavirus pandemic.
Posted: May 26, 2020
U.S.-based cyber risk intelligence platform Cyble said that personal information of 29 million Indian job seekers is available online for free.
Posted: May 26, 2020
Insurance claims related to cyclone Amphan that hit the Indian states of West Bengal and Odisha on May 20 are likely to reach 3.5 billion Indian rupees ($46.3 million).
Posted: May 25, 2020
U.K.-based budget airline EasyJet PLC faces a £18 billion ($22 million) class action lawsuit over the leak of personal data of nine million customers.
Posted: May 25, 2020