Business Insurance
High winds and heavy rains lashed the state of Western Australia on May 24 and blew off roofs, lifted cars off the road, damaged shops and brought down trees and power lines.
Posted: May 25, 2020
The U.S. Geological Survey has said that an earthquake of magnitude 5.5 struck off the coast of Mexico on May 24.
Posted: May 25, 2020
A casino and its third-party administrator were denied judicial review of penalties and fines they received for failing to pay workers compensation benefits on time.
Posted: May 22, 2020
Two shareholder lawsuits have been filed in U.S. District Court in New York against Willis Towers Watson PLC and its directors and officers, stating “incomplete and misleading” financial information has been provided about Aon PLC’s proposed plan to...
Posted: May 22, 2020
After weeks of stay-at-home mandates shuttered businesses around the country, states are starting to reopen and employers are preparing to reopen workplaces that will look substantially different than they did in early March.
Posted: May 22, 2020
A worker who fell at an office supply store while running a work errand misrepresented her injury, an appeals court in Louisiana ruled Wednesday in affirming a workers compensation court judgment that held her employer was right to deny her additiona...
Posted: May 22, 2020
Oklahoma Gov. Kevin Stitt Tuesday signed into law a bill that sets out how premium taxes by captive insurers should be distributed.
Posted: May 22, 2020
A Paris commercial court has ruled that French insurer Axa SA will have to pay a restaurant owner two months' worth of coronavirus-related revenue losses, the restaurant's lawyer said on Friday.
Posted: May 22, 2020
An unnamed Fortune 50 company had to pay upwards of $100,000 after having to close its Atlanta offices after one of its workers faked a COVID-19 diagnosis.
Posted: May 22, 2020
Axa XL’s global risk management and North America excess casualty business units now offer Multipass, aimed at helping U.S.-domiciled multinational businesses efficiently address their tax/compliance regulations and contractual obligations, Axa XL, a...
Posted: May 22, 2020
Of the 1,077 workers compensation COVID-19-related claims filed before April 30 in California, 35% were denied and of those 69.7% involved negative tests for the virus, according to a white paper released Thursday by the California Workers’ Compensat...
Posted: May 22, 2020
COVID-19 litigation and legislation were much in the news this week. The naming of underwriting officers at Chubb and Liberty Mutual also drew interest.
Posted: May 22, 2020
The government of the Indian state of West Bengal said that cyclone Amphan has caused around 1 trillion Indian rupees ($13.3 billion) worth of damage.
Posted: May 22, 2020
U.K.-based insurer Aviva PLC expects £160 million ($195.5 million) in claims related to the COVID-19 pandemic and weaker second quarter sales.
Posted: May 22, 2020
Iranian hackers hacked and disabled tens of thousands of Israeli websites on May 21.
Posted: May 22, 2020
The Algerian Union of Insurance and Reinsurance Companies said that the insurance sector is considering developing a type of insurance cover linked to epidemics and pandemics.
Posted: May 22, 2020
A report by A.M. Best Co. Inc. expects the Indian nonlife insurance sector to face uncertainty and challenges due to COVID-19 pandemic-driven economic turbulence.
Posted: May 22, 2020
Gross written premiums increased 12.5% year-over-year to more than €15 billion ($16.4 billion) in 2019 in the Southeast European region.
Posted: May 22, 2020
Gross written premiums of Austria-based Vienna Insurance Group AG's Croatian unit increased nearly 57% year-on-year to more than €46 million ($50 million) in the first quarter.
Posted: May 22, 2020
There is a 60% chance of an above-normal U.S. hurricane season, a 30% chance of a near-normal season and only a 10% chance of a below-normal season, according to the forecast issued Thursday by NOAA’s Climate Prediction Center, a division of the Nati...
Posted: May 21, 2020
An alternative federal proposal designed to protect businesses financially against widespread economic shutdowns due to a future pandemic was unveiled Thursday by three major insurance industry groups.
Posted: May 21, 2020
Forescout Technologies Inc. sued Advent International Corp. on Wednesday, after the private equity firm pulled out of a deal to buy the U.S. cybersecurity company for $1.9 billion.
Posted: May 21, 2020
Increases in product liability capacity for the cannabis industry and related companies remain elusive amid a patchwork of regulation, speakers said at the Business Insurance cannabis webinar on product liability Wednesday.
Posted: May 21, 2020
A Veterans Affairs hospital nurse pleaded guilty to defrauding the federal government after she injured her back at work in 1995 and submitted false expense reports stemming from rehab exercises she claimed she participated in from 2010 to 2016.
Posted: May 21, 2020
Aon PLC has launched a new workers compensation cost management tool, the Chicago-based brokerage announced Wednesday.
Posted: May 21, 2020