Business Insurance
A survey by French trade group ANIA found more than 70% of food makers suffered losses due to the COVID-19 pandemic, with 22% of respondents losing more than 50% compared to before the outbreak.
Posted: May 18, 2020
South African regulators have categorized business interruption insurance into standard insurance which requires physical damage as a trigger for the policy to respond; and BI insurance that contains a specific extension for infectious/contagious dis...
Posted: May 18, 2020
Businesses are urging U.S. lawmakers to shield companies from what they fear could be a flood of lawsuits by workers and consumers blaming employers for exposing them to the new coronavirus.
Posted: May 15, 2020
Mexico has delayed the reopening of automotive plants and the mining sector, creating confusion among companies about how soon they can reconnect supply chains tied to U.S. manufacturing.
Posted: May 15, 2020
Dodi Susanto, operations director of Indonesian insurer PT Asuransi Jasa Indonesia, said that the insurer will pay claims related to the a lost owned by PT Palapa Satelit Nusa Sejahtera.
Posted: May 15, 2020
South Korea-based Samsung Fire & Marine Insurance Co. Ltd.'s net profit fell 29% year-over-year to more than 164 billion South Korean won ($133 million) in the first quarter.
Posted: May 15, 2020
German travel firm TUI AG's net loss widened more than four-fold to €740 million ($800 million) in the first quarter due to the COVID-19 pandemic.
Posted: May 15, 2020
The Insurance Business Regulatory Board of Myanmar has given approval to insurers to provide reinsurance services as well as offer industrial all risk and construction all risk coverage.
Posted: May 15, 2020
French insurer Credit Agricole Assurances SA's premiums fell nearly 17% year-over-year to around €9 billion ($9.7 billion) in the first quarter.
Posted: May 15, 2020
A federal appeals court has overturned a lower court ruling and reinstated a race discrimination lawsuit against an automaker, in a case in which a terminated black employee claimed he was treated less favorably than a white employee in a comparable...
Posted: May 14, 2020
Recent legislative developments that eased restrictions on hemp production have helped elements of the cannabis industry expand but compliance issues still complicate risk management efforts in the sector, a panel of experts said.
Posted: May 14, 2020
A federal appeals court overturned a $3.5 million jury verdict for wrongful detention against a Detroit police officer who arrested an innocent man with a name similar to the fugitive being sought, stating the plaintiff had sued the wrong man.
Posted: May 14, 2020
Liberty Mutual Holdings Co. reported a net income of $519 million for first-quarter 2020, $150 million less than net income reported in first-quarter 2019, but a rebound from the nearly $300 million net loss the insurer reported in fourth-quarter 201...
Posted: May 14, 2020
A coalition of 20 attorneys general sent a letter to President Donald Trump on Tuesday asking the president to issue enforceable measures to protect the safety and health of meatpacking and poultry processing workers from COVID-19.
Posted: May 14, 2020
Cyber insurer and security company Coalition Inc. said Thursday it is expanding its offering to Canada-based companies, providing cybersecurity products and services as well as cyber and technology errors and omissions insurance.
Posted: May 14, 2020
McGriff Insurance Services Inc. and McGriff, Seibels & Williams Inc., the retail insurance subsidiaries of BB&T Insurance Holdings, announced Wednesday the rebranding of their businesses to McGriff.
Posted: May 14, 2020
Itsy-bitsy spider is an insect and, to add insult to injury, the hapless creature is vermin, too, a federal appeals court ruled Monday in a fight over insurance coverage.
Posted: May 14, 2020
Berkshire Hathaway Specialty Insurance Co. on Thursday announced it is providing Defense Base Act insurance on a global basis through its DBA-dedicated underwriting and claims team in Dubai.
Posted: May 14, 2020
The U.S. Securities and Exchange Commission said on Thursday it has charged two companies and a chief executive officer with making misleading claims related to COVID-19, the disease caused by the novel coronavirus.
Posted: May 14, 2020
Lloyd's of London is likely to pay out $3.0 billion to $4.3 billion in insurance claims related to the coronavirus pandemic, similar to losses from the 9/11 attacks, it said on Thursday.
Posted: May 14, 2020
Measures to help customers struggling to pay premiums on insurance policies during the coronavirus crisis will come into effect on Monday, Britain's Financial Conduct Authority said on Thursday.
Posted: May 14, 2020
Zurich Insurance Group AG's property/casualty gross written premiums increased more than 5% year-on-year to nearly $10 billion in the first quarter.
Posted: May 14, 2020
Japan-based Sony Corp.'s profit fell 86% year-over-year to nearly 13 billion Japanese yen ($121 million) in the first quarter as the COVID-19 pandemic delayed music and movie releases and disrupted product supply chains.
Posted: May 14, 2020
A report by Marsh LLC said that insurance pricing increased 6% year-over-year in Asia in the first quarter.
Posted: May 14, 2020
The Monetary Authority of Singapore has approved Japan-based trading firm Mitsui & Co. Ltd.'s investment in Lloyd's insurance and reinsurance broker Pana Harrison (Asia) Pte. Ltd.
Posted: May 14, 2020