Business Insurance
It’s rare for a workers compensation recipient to voluntarily partake in opportunities that might prove fraud via video recordings.
Posted: Jul 12, 2022
USI Insurance Services LLC on Monday filed a request for expedited discovery in noncompete litigation it filed against a former employee who formed his own brokerage.
Posted: Jul 12, 2022
The National Reinsurance Corp. of the Philippines expects better earnings this year as economic conditions in the Philippines show signs of improvements after relaxation of COVID-19 restrictions.
Posted: Jul 12, 2022
German commercial insurance broker MRH Trowe AG recently completed acquisitions as it tries to strengthen its position across various insurance segments and regions.
Posted: Jul 12, 2022
Moody’s Investors Service Inc. has upgraded German insurer Allianz SE’s outlook to “positive” from “stable” based on its strong capitalization and earnings that are expected to help the insurer withstand pressure from macroeconomic headwinds.
Posted: Jul 12, 2022
The Insurance Council of Australia said the number of insurance claims related to the latest floods in New South Wales have surpassed 10,500, reflecting a 25% increase over the previous figure of approximately 8,400.
Posted: Jul 12, 2022
Oman-based National Life and General Insurance Co. SAOG has completed its acquisition of property and casualty insurer Royal & Sun Alliance Insurance (Middle East) BSC.
Posted: Jul 12, 2022
Investment banking firm Jefferies International Ltd. said that Lloyd’s of London underwriters face ‘benign’ catastrophe losses but continue to benefit from rate hikes as capacity withdrawals drive up prices.
Posted: Jul 12, 2022
States have been moving further away from the National Commission on State Workers’ Compensation recommendations to better serve injured workers, panelists said Monday at a Department of Labor event in Washington commemorating the 50th anniversary of...
Posted: Jul 12, 2022
NFP Corp. said Tuesday it has set up a captive management company in Alberta following the enactment of captive legislation in the Canadian province.
Posted: Jul 12, 2022
Willis Towers Watson PLC endured a challenging year in 2021 that saw it shift gears and regroup as an independent brokerage, change its senior leadership and largely exit the reinsurance brokerage business, after its proposed merger with Aon PLC was...
Posted: Jul 12, 2022
Nearly a year after its long-planned acquisition of rival Willis Towers Watson PLC was scuttled due to regulatory concerns, Aon PLC has revamped its organizational structure and is continuing with its strategy of seeking to offer clients multiple fin...
Posted: Jul 12, 2022
Marsh & McLennan Cos. Inc. delivered double-digit organic revenue growth last year on the back of continued strong insurance pricing, while it also capitalized on disruption in the broking sector to ramp up hiring.
Posted: Jul 12, 2022
Business Insurance’s annual Broker Profiles highlight market trends and profiles the leading brokerages.
Posted: Jul 12, 2022
Rate increases for general liability and umbrella coverage moderated in the first half of 2022 to low double-digit price hikes as more capacity entered the sector, industry experts say.
Posted: Jul 12, 2022
Commercial property insurance rates increased again at midyear renewals, albeit at a more moderate pace, and the overall cost of programs is rising as inflation pushes up values and premium costs.
Posted: Jul 12, 2022
Policyholders saw rate decreases of up to 35% in the July renewals for directors and officers liability risks, fueled by significant capacity in excess layers and increased competition, experts say.
Posted: Jul 12, 2022
30 years after Hurricane Andrew devastated parts of Florida, the insurance sector continues to feel the effects of the catastrophe
Posted: Jul 12, 2022
A Louisiana appeals court’s refusal to dismiss policyholder litigation in a COVID-19-related business interruption case is significant and expected to be influential, policyholder attorneys say.
Posted: Jul 12, 2022
Juan C. Andrade joined Everest Re Group Ltd. as chief operating officer in September 2019 and became CEO of the Bermuda-based insurer and reinsurer on Jan. 1, 2020.
Posted: Jul 12, 2022
Mergers and acquisitions activity among insurance agents and brokers remains as strong as ever, despite increased general economic concerns.
Posted: Jul 12, 2022
The war exclusion has received a lot of attention over the past year, particularly since Russia invaded Ukraine in February. Policyholders’ concern that insurers will assert the exclusion as a basis to deny coverage is increasing in light of recent c...
Posted: Jul 12, 2022
The U.S. Supreme Court decision to overturn Roe v. Wade leaves businesses and their leadership facing tough choices.
Posted: Jul 12, 2022
There’s nothing like experience to change perspectives.
Posted: Jul 12, 2022