Business Insurance
A bipartisan Pennsylvania Senate bill that does not explicitly state that insurers must cover COVID-19 business interruption claims would nonetheless force insurers to pay claims that standard property policies do not cover, according to insurance in...
Posted: May 07, 2020
Employers cannot exclude employees from working simply because they have an underlying medical condition that the Centers for Disease Control says may pose a higher risk of severe illness if they contract COVID-19, the U.S. Equal Employment Opportuni...
Posted: May 07, 2020
Britain's Financial Conduct Authority aims to get business interruption insurance policies examined by a court as soon as July, a member of a policyholder action group said on Thursday.
Posted: May 07, 2020
An injured worker’s jury award after he was fired following a workplace injury was upheld Tuesday by a New Mexico appellate court.
Posted: May 07, 2020
The COVID-19 pandemic is intensifying the already-challenging issues facing the cannabis industry, experts say.
Posted: May 07, 2020
California Gov. Gavin Newsom issued an executive order Wednesday extending workers compensation to essential workers who contract COVID-19 on the job.
Posted: May 07, 2020
AF Group named Ian Podmore director of captive operations at AF Specialty, the Lansing, Michigan-based insurer announced in a statement Thursday.
Posted: May 07, 2020
North American commercial insurance buyers will continue to pay more across most lines of business and see their coverage terms and conditions scrutinized, as the industry braces for a potential loss of up to $80 billion from COVID-19, according to a...
Posted: May 07, 2020
Bala Siva Srikanth Adivi, an occupational health, safety and environment expert at the Kuwait Oil Co. and 12-year member of the American Society of Safety Professionals, was named ASSP’s 2020 Safety Professional of the Year, the organization announce...
Posted: May 07, 2020
Tornadoes and hailstorms in the United States during April caused more than $2 billion in insured losses, according to a report by Aon PLC released Thursday.
Posted: May 07, 2020
The U.S. securities regulator on Wednesday said Bloomberg Tradebook LLC has agreed to pay a $5 million penalty to settle charges it made "material misrepresentations" over how the broker-dealer handled certain customer trade orders.
Posted: May 07, 2020
Forcing retroactive payouts to cover business disruption losses resulting from the coronavirus pandemic could ultimately put financial stability at risk, global insurance regulators say.
Posted: May 07, 2020
A truck driver in Lincoln, Nebraska, is barred from workers compensation benefits in a firecracker mishap he said was the result of entertaining a warehouse manager on his route, the Nebraska Court of Appeals ruled Tuesday.
Posted: May 07, 2020
Munich Re said on Thursday it expects to receive claims for cancelled or postponed events because of the coronavirus crisis in excess of €1 billion ($1.08 billion) this year after it posted a 65% drop in first-quarter profit.
Posted: May 07, 2020
Germany-based reinsurer Hannover Re SE has set aside €220 million ($238 million) in reserves for potential claims related to the COVID-19 pandemic.
Posted: May 07, 2020
Gas leaked from South Korean chemicals firm LG Chem Ltd.'s polymer plant in the Indian city of Visakhapatnam on May 7, killing at least 10 people and sickening more than 5,000 others.
Posted: May 07, 2020
More than 70 listed companies in China plan to buy directors and officers liability insurance for directors and supervisors this year after scandal-hit coffeehouse chain Luckin Coffee Inc. claimed $25 million in insurance coverage.
Posted: May 07, 2020
The French Prudential Supervisory and Resolution Authority has launched an investigation into business interruption insurance market following the coronavirus pandemic.
Posted: May 07, 2020
A survey found that more than half a million businesses in the United Kingdom are at risk of going bust due to the coronavirus pandemic.
Posted: May 07, 2020
Indonesia's meteorological and geophysics agency said that a 7.3-magnitude earthquake shook Maluku province on May 6.
Posted: May 07, 2020
The COVID-19 pandemic has opened up a potential new market for insurers in India as business across a number of sectors are enquiring about business interruption cover.
Posted: May 07, 2020
A storm ripped through Western Australia on May 6 and caused power outage at nearly 40,000 properties, razed fences, blew trampolines and damaged roofs.
Posted: May 07, 2020
Frederik Bisbjerg, an insurance expert, said that a false sense of stability prevails in the Middle East and North Africa insurance market, with insurers lacking motivation to adapt to changes on a scale required to stay competitive.
Posted: May 07, 2020
A putative class action lawsuit alleging violation of Illinois’ Biometric Information Privacy Act can be heard in federal court, rather than in more plaintiff-friendly state court, said a federal appeals court Tuesday, in overturning a lower court ru...
Posted: May 06, 2020
A New Jersey lawmaker introduced a bill Monday to provide supplemental workers compensation benefits to the dependents of essential employees who dies from COVID-19 in the course of employment.
Posted: May 06, 2020