Business Insurance
Aviation insurers in Nigeria are calculating their losses following the cancellation of local and international flights to curb the spread of the COVID-19 pandemic.
Posted: Apr 29, 2020
Data from Swiss catastrophe loss data provider Perils AG shows that the value of insured property exposed to European windstorms increased more than 4% year-over-year to nearly €60 trillion ($65 trillion) in 2019.
Posted: Apr 29, 2020
U.K.-based architecture firm Zaha Hadid Architects has said it will refuse to pay a ransom to keep hackers from releasing the data they stole on April 21.
Posted: Apr 29, 2020
Petrochemical company Taiwan VCM Corp. has been ordered to shut down its chemical plant in Kaohsiung city following a gas leak on April 23, which killed a worker and injured nine others.
Posted: Apr 29, 2020
Qatar Insurance Co.'s gross written premiums increased 5% year-over-year to nearly 4 billion Qatari rial ($1.1 billion) in the first quarter.
Posted: Apr 29, 2020
As parts of the country re-open after closing up for nearly six weeks because of coronavirus, construction is also ramping up. But for workers, daily life on the job site will look significantly different for the foreseeable future, experts say.
Posted: Apr 29, 2020
A University of California student filed a putative class-action lawsuit against the university Monday, stating it has refused to return fees paid for the spring semester even though students are no longer on campus.
Posted: Apr 28, 2020
There’s obeying the law of supply and demand, and then there’s charging $86 for a package of toilet paper.
Posted: Apr 28, 2020
Tesla Inc. said in a financial filing Tuesday that it is not renewing its directors and officers liability insurance policy for the 2019-2020 policy year because of the “disproportionately high” premiums quoted by insurers.
Posted: Apr 28, 2020
A Pennsylvania appeals court has ruled against an insurer that issued a reservation of rights letter, but failed to tell its policyholder for 18 months that coverage was excluded under its policy.
Posted: Apr 28, 2020
All “frontline workers” in Vermont — including first responders, health care and child care providers, and pharmacy and grocery workers — would be eligible for workers compensation benefits if they test positive for COVID-19 under a bill now advancin...
Posted: Apr 28, 2020
Liberty Mutual Holding Co. Inc. said Tuesday that COVID-19’s impact on first-quarter earnings will be on the order of a “moderately sized” catastrophe.
Posted: Apr 28, 2020
Liberty Mutual Holding Co. Inc. said Tuesday that COVID-19’s impact on first-quarter earnings will be on the order of a “moderately sized” catastrophe.
Posted: Apr 28, 2020
Brown & Brown Inc. late Monday reported 2020 first-quarter revenue of $698.5 million, up 12.8% from the year-earlier period, but said it would be drawing down $250 million on its existing revolving line of credit to strengthen liquidity and shore up...
Posted: Apr 28, 2020
Seventy-seven percent of chief financial officers surveyed recently anticipate changing workplace safety measures upon returning to on-site work, according to a report released Tuesday by PricewaterhouseCoopers International Ltd.
Posted: Apr 28, 2020
Amazon.com Inc. may have violated safety measures and labor practices amid the coronavirus pandemic as it fired a warehouse protest leader last month, New York Attorney General Letitia James's office wrote in a letter to the company last week.
Posted: Apr 28, 2020
Senate Majority Leader Mitch McConnell on Monday called for businesses and health care workers to be protected from “opportunistic lawsuits” as companies reopen after the coronavirus lockdown.
Posted: Apr 28, 2020
Brokers and risk managers are in discussions with commercial insurers over potential recalculation of exposure values, premium rebates and premiums payment plans as economic activity has fallen significantly during the COVID-19 lockdown, sources say.
Posted: Apr 28, 2020
The Association of British Insurers expects U.K. insurers to receive around £1.2 billion ($1.5 billion) worth of COVID-19 pandemic-related claims.
Posted: Apr 28, 2020
Australian duty-free retailer James Richardson Corp. Pty. Ltd. faces a 500 million Israeli shekels ($142 million) lawsuit for conspiring with a German travel retailer to fix a 2013 tender for operating duty-free stores at Ben Gurion Airport in Israel...
Posted: Apr 28, 2020
The German tourism industry association has said that the lockdown cost the industry €24 billion ($26 billion) in March and April.
Posted: Apr 28, 2020
Furoebi Akene, chairman of the Center for Environmental Preservation and Development, has accused of Shell Petroleum Development Co. of discharging toxic chemicals in the Atlantic Ocean off the Niger Delta coastline in Nigeria.
Posted: Apr 28, 2020
Insurance experts expect Indian airlines to demand refund of premium from general insurers for the "lay-up period" due to the COVID-19 lockdown.
Posted: Apr 28, 2020
Data from the Insurance Association of Turkey showed that premiums grew nearly 25% year-over-year to around 22 billion Turkish lira ($3.2 billion) in the first quarter.
Posted: Apr 28, 2020
The Japan Meteorological Agency said that Sakurajima volcano erupted on April 24 and sent ash plumes around 11,000 feet into the air.
Posted: Apr 28, 2020