Business Insurance
Japan-based Panasonic Corp.'s net profit fell nearly 21% year-over-year to around 226 billion Japanese yen ($2.1 billion) in the financial year ended March 31, due to weak sales of home appliances and auto electronic parts as a result of the coronavi...
Posted: May 19, 2020
Japan-based Subaru Corp.'s suspension of operations at plants in the United States and Japan in April due to the coronavirus pandemic resulted in a production loss of 150,000 vehicles.
Posted: May 19, 2020
Egypt-based Petroleum Pipelines Co. has launched an insurance policy tender of 2.5 billion Egyptian pounds ($158 million) to cover its assets.
Posted: May 19, 2020
The Supreme Court of Victoria has fined Australia-based Hazelwood Power Corp. Pty. Ltd. nearly $2 million Australia ($1.3 million) over the 2014 Latrobe Valley mine fire which burned for 45 days.
Posted: May 19, 2020
The U.A.E. Insurance Authority is considering launching a stimulus package to support the insurance sector amid the COVID-19 pandemic.
Posted: May 19, 2020
An earthquake of magnitude-4.1 hit the Swedish city of Kiruna on May 18 and knocked out water pumps at mining firm Luossavaara-Kiirunavaara Aktiebolag's iron ore mine.
Posted: May 19, 2020
Egypt-based Delta Insurance Co. SAE's insurance premiums increased nearly 33% year-over-year to more than $38 million in the nine months ended March 31.
Posted: May 19, 2020
U.S.-based equity firm TA Associates LP has agreed to buy a stake in Australian insurance broker Honan Insurance Group Pty. Ltd.
Posted: May 19, 2020
A nationwide alcohol ban to combat the coronavirushas crushed the South African glass container industry and its supply chains.
Posted: May 19, 2020
A legal services firm sued its broker in addition to its insurer last week in a claims dispute over coronavirus-related losses.
Posted: May 18, 2020
Former Los Angeles Lakers superstar Magic Johnson, concerned that minority-owned businesses are being overlooked in applying for loans through the Paycheck Protection Program, said his life insurance company EquiTrust Life Insurance Co. will shoot ov...
Posted: May 18, 2020
NFP Corp. acquired LFG Inc., DBA Team Scotti, in a transaction that closed Dec. 1, NFP said in a statement Monday.
Posted: May 18, 2020
A federal appeals court has affirmed a Zurich Insurance Group unit was obligated to defend a car dealership operator in a family dispute, in a case that led to a $4.3 million award against the insurer.
Posted: May 18, 2020
California’s insurance commissioner issued an order Friday requiring insurers to return partial insurance premiums to consumers and businesses. This is the second such order issued to provide businesses with financial relief while shuttered due to th...
Posted: May 18, 2020
A Louisiana lawmaker is pushing for the state to adopt a resolution creating a pilot program to address opioid abuse among those seeking lower-back pain care management.
Posted: May 18, 2020
Lawmakers in two states over the weekend were divided in passing COVID-19-related bills that would affect workers compensation benefits.
Posted: May 18, 2020
California saw an 11.3% drop in workers compensation independent medical review letters in 2019 when compared with 2018, according to a report issued by the California Workers’ Compensation Institute on Sunday.
Posted: May 18, 2020
Medical diagnostic firm PerkinElmer Inc. faces a federal investigation into its role in an alleged Medicare fraud involving tens of thousands of unnecessary genetic cancer tests, according to three sources with knowledge of the probe and documents re...
Posted: May 18, 2020
U.K.'s Financial Conduct Authority has announced temporary measures to help insurance policyholders in financial difficulty because of coronavirus pandemic to maintain their coverage.
Posted: May 18, 2020
The European Parliament has suffered a cyber attack in which data of 1,200 elected officials and staff as well as 15,000 other European Union affairs professionals were released online.
Posted: May 18, 2020
Nonlife insurers in South Korea reported better-than-expected earnings in the first quarter despite the COVID-19 pandemic.
Posted: May 18, 2020
China Pacific Insurance (Group) Co. Ltd.'s insurance premiums increased nearly 3.5% year-on-year to around 154 billion Chinese yuan ($22 billon) in the first four months of 2020.
Posted: May 18, 2020
Germany-based Mercedes-Benz AG could be sued by some 75,000 taxi drivers in the United Kingdom for over its emissions-cheating scandal.
Posted: May 18, 2020
Adel Al-Eisa, spokesman of insurers at the Saudi Arabian Monetary Authority, has said that the fallout from the COVID-19 pandemic will accelerate the ongoing mergers and acquisitions discussions in the insurance sector.
Posted: May 18, 2020
Norway-based marine insurer Assuranceforeningen Skuld's net profit more than doubled to $25 million in the financial year ended Feb. 20, compared with $11 million reported in the previous year.
Posted: May 18, 2020