Business Insurance
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
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