Business Insurance
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
Woodruff Sawyer & Co. said Thursday that CEO Andy Barrengos has assumed the added title of chairman, while chairman Stan Loar has become chairman emeritus.
Posted: May 21, 2020
A firefighter’s hearing loss is not covered by workers compensation because it was cumulative and not triggered by a single incident, an appellate court held Wednesday.
Posted: May 21, 2020
A U.S. District Court judge in San Jose, California, has refused to dismiss age discrimination claims in a class-action lawsuit filed against HP Inc. and Hewlett Packard Enterprise Co. by former employees, stating they had provided sufficient evidenc...
Posted: May 21, 2020
Italy's biggest insurer, Generali, expects its operating profit to be “resilient” this year, but to fall short of last year due to the COVID-19 pandemic, it said on Thursday.
Posted: May 21, 2020
Austria-based Vienna Insurance Group AG's insurance premiums grew more than 7% to surpass €3 billion ($3.3 billion) in the first quarter, driven by strong demand in Austria and Poland during the first two months.
Posted: May 21, 2020
A German court has ended proceedings against the chairman and chief executive of Volkswagen AG after the carmaker agreed to pay a fine of €9 million ($10 million) over the diesel emissions scandal.
Posted: May 21, 2020
Cyclone Amphan, which hit India and Bangladesh on May 20, has killed at least 14 people and caused widespread damage.
Posted: May 21, 2020
A group of hospitality firms in the United Kingdom plan to sue insurers Aviva PLC and QBE Insurance Ltd. after failing to secure payouts following business interruption due to the coronavirus pandemic.
Posted: May 21, 2020