Business Insurance
The Insurance Council of Australia declared the latest floods affecting the Australian east coast as a “significant event,” as authorities in New South Wales order the evacuation of over 50,000 people amid the deluge.
Posted: Jul 06, 2022
The number of Chinese listed 'A'-share companies opting for directors and officers liability insurance is increasing, with nearly 260 companies announcing plans to buy D&O cover in the first half of the year, up from 248 companies that did so in the...
Posted: Jul 06, 2022
Arthur J. Gallagher & Co.’s reinsurance business, Gallagher Re said that property reinsurance rates increased by up to 25% in Australia in some cases during the mid-year reinsurance renewals.
Posted: Jul 06, 2022
The first of three Business Insurance Break Out Awards events took place in New York on Tuesday, June 7, 2022. Honorees attended the event with colleagues and family.
Posted: Jul 06, 2022
Florida workers filed 368 claims for COVID-19 in May, up from 234 in April and 105 in March, according to the latest report from the Division of Workers’ Compensation.
Posted: Jul 06, 2022
New York Gov. Kathy Hochul signed a bill allowing the state’s workers compensation insurer of last resort to issue a policy to a former policyholder even when that business has an unpaid balance from a previous policy.
Posted: Jul 06, 2022
One year after devastating floods in two western states in Germany, a quarter of the insurance claims are still open, and 40% of the total damages of €8.5 billion ($8.7 billion) have not yet been paid out, insurers said Wednesday.
Posted: Jul 06, 2022
Environmental groups are suing KLM, the Dutch subsidiary of Air France, over an advertising campaign they allege breaches European consumer law by misleading the public over how sustainable its flights are.
Posted: Jul 06, 2022
Payments for medical-legal services used to resolve medical disputes over compensability issues in California workplace injury claims have risen “sharply” under the new medical-legal fee schedule that took effect in 2021, according to a CWCI study.
Posted: Jul 05, 2022
A former managing director at Archegos Capital Management LP has sued the private investment firm and its indicted founder Bill Hwang, claiming a loss of tens of millions of dollars when the firm collapsed, causing huge losses for banks.
Posted: Jul 05, 2022
A North Carolina state appeals court on Tuesday overturned a lower court ruling in policyholders’ favor in a COVID-19 business interruption case.
Posted: Jul 05, 2022
A federal appeals court overturned a lower court Tuesday and held a plaintiff who charged a Connecticut motel with violating the Americans with Disability Act cannot pursue her litigation because she had no definite plans to visit the facility.
Posted: Jul 05, 2022
Terri Rhodes, CEO of Disability Management Employer Coalition, discusses how absence management has evolved and the challenges employers face in navigating disability benefits.
Posted: Jul 05, 2022
JPMorgan Chase & Co. will have to pay an $850,000 penalty to the U.S. Commodity Futures Trading Commission for allegedly failing to report certain foreign currency swaps, the regulator said Tuesday.
Posted: Jul 05, 2022
Blank-check firm Digital World Acquisition Corp. said on Friday former U.S. President Donald Trump’s social media firm was served with two separate subpoenas over its merger plans.
Posted: Jul 05, 2022
Average U.S. commercial property/casualty rates rose 5.9% in the second quarter, MarketScout Corp. reported Tuesday.
Posted: Jul 05, 2022
An attorney charged with embezzling funds from lottery winners is entitled to defense costs under his professional liability policy, a U.S. District Court ruled last week.
Posted: Jul 05, 2022
Transport unions in Peru have called for an indefinite nationwide strike starting July 4, which is likely to cause business and transport disruptions, especially in Lima and Callao.
Posted: Jul 05, 2022
More than 100 flights to and from Lisbon airport in Portugal were canceled over the weekend, affecting thousands of travelers, with some blaming the cancelations on the country’s flag carrier TAP Air Portugal.
Posted: Jul 05, 2022
Ireland-based Ardonagh Europe, a subsidiary of U.K.-based insurance broker The Ardonagh Group Ltd., has agreed to acquire Netherlands-based insurance broker and consultancy services provider Leons Group.
Posted: Jul 05, 2022
A report by Swiss Re Institute said that China is increasing its resilience against natural catastrophes, with the government and insurers taking collaborative measures to boost awareness around protection against natural disasters, and mitigate wide...
Posted: Jul 05, 2022
Australian insurer Suncorp Group Ltd. has adjusted its reinsurance program for the fiscal year ending June 30, 2023, raising its natural hazard allowance to $1.16 billion Australian ($790.6 million) after recording significantly high natural disaster...
Posted: Jul 05, 2022
French insurance holding company Axa SA has completed merger with its captive reinsurer, Axa Global Re to facilitate its transformation into an internal reinsurer for its insurance business.
Posted: Jul 05, 2022
Nomination deadline for the 2022 U.S. Insurance Awards is July 11.
Posted: Jul 05, 2022
Marsh & McLennan Agency LLC, the middle-market subsidiary of Marsh LLC, said Tuesday it has acquired CS Insurance Strategies Inc., a Chicago-based minority-owned brokerage.
Posted: Jul 05, 2022