Business Insurance
Woodbury, New York-based SterlingRisk Insurance Co. said Monday its SterlingRisk Programs division is partnering with a cybersecurity technology and services provider to introduce a program that assesses business’ cyber exposure.
Posted: Jun 02, 2020
Allianz Global Corporate & Specialty SE has named former Willis Towers Watson PLC executive Thomas Kang head of cyber in North America, effective June 15.
Posted: Jun 02, 2020
JPMorgan Chase & Co. and Barclays PLC will pay $20.7 million to resolve investors' claims they conspired to rig the Mexican government bond market, the first of nine banks in the proposed class-action litigation to settle.
Posted: Jun 02, 2020
The ranks of the highest-paid executives at the largest U.S.-based or listed commercial property/casualty insurers changed slightly from last year, as CNA Financial Corp. edged Berkshire Hathaway Inc. in commercial lines premium in 2019, according to...
Posted: Jun 02, 2020
A U.S. appeals court ruled on Monday that Volkswagen AG cannot escape potential financial penalties from two counties in Florida and Utah that may amount to a “staggering” additional liability arising from the German automaker's diesel emissions scan...
Posted: Jun 02, 2020
Ryanair Holdings PLC and Chief Executive Michael O'Leary failed to persuade a U.S. judge to dismiss a securities fraud lawsuit accusing Europe's largest budget airline of defrauding shareholders by downplaying its willingness to recognize labor union...
Posted: Jun 02, 2020
Reinsurance rates increased significantly during June 1 renewals as underwriters reacted to cumulative catastrophe losses, financial market disruption and expected coronavirus-related losses.
Posted: Jun 02, 2020
Employers are expected to face significant litigation over wage and hour issues because of the complex issues — and equally complex federal, state and local regulations — they must deal with — as they bring employees back to the workplace or firm up...
Posted: Jun 02, 2020
Hong Kong’s industrywide gross written premiums increased nearly 11% year-over-year to $165 billion Hong Kong ($21 billion) in the first quarter of the year from the same period in 2019.
Posted: Jun 02, 2020
The Federal Court of Australia's ruling against a ban on live cattle exports to Indonesia potentially opening the door for the country to pay out hundreds of millions of dollars in compensation.
Posted: Jun 02, 2020
Nayib Bukele, president of El Salvador, said that storm Amanda has caused $200 million worth of damage and killed at least 14 people, BBC reports. The storm hit the country May 31.
Posted: Jun 02, 2020
The total net loss of firms listed in Japan totaled nearly 1.5 trillion Japanese yen ($14 billion) in the fiscal quarter ended March 31 due to the COVID-19 pandemic.
Posted: Jun 02, 2020
A hailstorm hit north Portugal on May 31, causing more than €20 million ($22 million) worth of damage to fruit crops.
Posted: Jun 02, 2020
A huge fire has razed U.K.-based potato chip manufacturer Corkers Crisps Ltd.'s factory in Pymoor village.
Posted: Jun 02, 2020
South Africa-based telecommunications firm Telkom SA SOC Ltd. suffered a ransomware attack, which led to outages across of its several systems.
Posted: Jun 02, 2020
A federal appeals court has reinstated putative class action litigation filed by cancer treatment providers against a biopharmaceutical company that charged the firm with mislabeling a breast cancer drug.
Posted: Jun 01, 2020
The deadline to submit an entry for the Business Insurance Innovation Awards is June 16.
Posted: Jun 01, 2020
A judge with U.S. District Court for the District of Maryland had this to say to two University of Maryland basketball players who sued the makers of the popular Fortnite video game over claims the company stole their “Running Man” dance: You can’t t...
Posted: Jun 01, 2020
More than one-third of workers said they would sue their employer if they believed they contracted coronavirus from a co-worker, according to a survey released Monday.
Posted: Jun 01, 2020
Aon PLC named Brent Rieth U.S. practice leader of its cyber solutions E&O/cyber broking team, the broker said in a statement Monday.
Posted: Jun 01, 2020
Commercial property insurers will likely pay property damage losses resulting from the civil unrest in cities across the United States, but business interruption loss calculations will be complicated by ongoing issues with coronavirus lockdowns.
Posted: Jun 01, 2020
The U.S. Supreme Court on Monday refused to hear a bid by major banks and companies including Koch Industries Inc. to prevent a trustee chasing money for victims of imprisoned Ponzi scheme swindler Bernard Madoff from recouping funds that were transf...
Posted: Jun 01, 2020
Seeking to deter further shipments of Iranian fuel to Venezuela, the Trump administration has quietly warned foreign governments, seaports, shipping companies and insurers that they could face stiff U.S. sanctions if they aid the tanker flotilla, the...
Posted: Jun 01, 2020
As U.S. businesses reopen after weeks of pandemic lockdowns, many have been posting coronavirus disclaimers or requiring employees and patrons to sign waivers before entering.
Posted: Jun 01, 2020
As the insurance and risk management sector responds to unprecedented challenges, a new generation of leaders is coming through the ranks to respond to the upheavals facing the market. Business Insurance profiles some of the most promising up-and-com...
Posted: Jun 01, 2020