Business Insurance
Ramesh Juneja, regional chairman of Indian Council of Leather Exports, has said that the COVID-19 pandemic could cost the local leather industry $1.5 billion in lost exports.
Posted: May 14, 2020
A report said that insurance industry premiums fell nearly 5% year-over-year to more than $1.6 billion in Lebanon in 2019.
Posted: May 14, 2020
Two companies involved in constructing emergency coronavirus hospitals in the United Kingdom have been hit by cyber attacks this month.
Posted: May 14, 2020
Omani insurers' total gross written premiums decreased nearly 2% year-over-year to more than 149 million Omani riyal ($386 million) in the first quarter.
Posted: May 14, 2020
Research by U.K.-based internet service provider Beaming Ltd. revealed that the number of cyber attacks on local businesses increased more than 30% year-over-year in the first quarter.
Posted: May 14, 2020
The latest economic stimulus package introduced in the U.S. House of Representatives on Tuesday includes previously proposed measures that would protect insurers covering cannabis businesses in states where the drug is legal from prosecution under fe...
Posted: May 13, 2020
Louisiana lawmakers on Wednesday scrapped a bill that would have forced insurers to cover retroactive business interruption claims due to COVID-19.
Posted: May 13, 2020
A man who settled a disputed workers compensation claim for $2,500 over a slipped-disc injury he suffered while on his first day of work at a furniture company cannot reopen his claim over complaints that his back pain worsened, an appeals court in M...
Posted: May 13, 2020
Posted: May 13, 2020
The Association of British Insurers on Wednesday stressed that forcing insurers to pay for COVID-19 related claims that aren’t covered in contracts would be “a shortcut to insolvency.”
Posted: May 13, 2020
The Missouri Senate and House on Tuesday approved a bill that would limit when punitive damages can be awarded.
Posted: May 13, 2020
The U.S. Justice Department and Securities and Exchange Commission must review whether an ex-Royal Bank of Scotland employee is owed a whistleblower payout and provide documents relating to his case, a federal U.S. court said on Tuesday.
Posted: May 13, 2020
China-linked hackers are breaking into American organizations carrying out research into COVID-19, U.S. officials said on Wednesday, warning both scientists and public health officials to be on the lookout for cyber theft.
Posted: May 13, 2020
The U.S. Securities and Exchange Commission has handled a surge in tips, complaints and referrals and opened hundreds of new probes since mid-March despite being forced to work remotely due to the coronavirus outbreak, an official said on Tuesday.
Posted: May 13, 2020
Britain said on Wednesday it would temporarily guarantee business-to-business transactions until December for companies struggling to pay trade credit insurance during the coronavirus pandemic.
Posted: May 13, 2020
French insurer Covea has walked away from its planned $9 billion purchase of PartnerRe, the Bermuda-based reinsurer owned by Exor, the holding firm of Italy's Agnelli family, saying it could no longer buy under the terms of their agreement.
Posted: May 13, 2020
Insurance company Brit and Google Cloud are together launching the first digital Lloyd’s of London syndicate, accessible from anywhere and at any time.
Posted: May 13, 2020
Years of profitable underwriting and healthy reserves in 2019 in the workers compensation sector will help the industry weather coronavirus-related claims and lower premium in the coming months, officials with the National Council for Compensation In...
Posted: May 13, 2020
Vijay Bhupathiraju, retail analyst at U.K.-based data analytics firm GlobalData PLC, said that the COVID-19 pandemic has cost the Chinese retail industry 3 trillion Chinese yuan ($423 billion) in lost sales.
Posted: May 13, 2020
Hamdi Al-Tabba, head of the Arab Businessmen Union, said that Arab nations could lose nearly $323 billion due to the COVID-19 pandemic.
Posted: May 13, 2020
Data from the Financial Services Authority of Indonesia showed that overall premiums fell more than 7.5% year-over-year to 17.5 trillion Indonesian rupiah ($1.2 billion) in the first quarter.
Posted: May 13, 2020
A report by PricewaterhouseCoopers LLP said that cyber attacks on Indian firms have doubled between January and March, with remote work infrastructure being heavily targeted, along with identity theft and malicious payload delivery.
Posted: May 13, 2020
Eddie Efekoha, president of the Chartered Insurance Institute of Nigeria, expects the deadline for insurers to recapitalize to be extended further due to the COVID-19 pandemic.
Posted: May 13, 2020
Directors and officers liability insurance pricing rose dramatically in the first quarter with the price per million for Aon PLC clients, increasing 73% when adjusted for certain items.
Posted: May 12, 2020
The range of businesses taking insurers to court for coronavirus-related losses continued to expand last week with a New Orleans-based hotel group and a day care center in New York suing their insurers.
Posted: May 12, 2020