Business Insurance
Socials, dues, candlelit ceremonies are all the things of college Greek life. Yet one essential component barely makes the list: insurance.
Posted: May 05, 2020
A German federal court judge cast doubt on Volkswagen AG's reasoning after the carmaker urged the court to dismiss a claim for damages brought by an owner of a diesel-powered VW Sharan family van.
Posted: May 05, 2020
USI Insurance Services LLC has agreed to acquire Minnetonka, Minnesota-based broker Associated Benefits and Risk Consulting in a $266 million cash deal, seller Associated Banc-Corp said Monday.
Posted: May 05, 2020
WeWork co-founder Adam Neumann filed a lawsuit against Japan's SoftBank Group Corp. and its Vision Fund on Monday for terminating a $3 billion tender offer to the office-sharing startup's shareholders.
Posted: May 05, 2020
Business software group SAP SE disclosed on Tuesday that some of its cloud products did not meet contractual or statutory security standards and said it would take remedial action to fix the problem as soon as possible.
Posted: May 05, 2020
U.S. Equal Employment Opportunity Commission guidance that sanctions employer use of COVD-19 testing raises more questions than it answers, and increased employment practices liability claims may be inevitable, say many observers.
Posted: May 05, 2020
Germany-based insurer Allianz SE expects its net income to fall by around 30% year-over-year to €1.4 billion ($1.5 billion) in the first quarter due to the coronavirus pandemic.
Posted: May 05, 2020
U.K.'s Night Time Industries Association has teamed up with an organization called Hiscox Action Group to pressure insurer Hiscox Ltd. to pay out on business interruption policies held by companies affected by the COVID-19 pandemic.
Posted: May 05, 2020
Wildfires have spread across 1.2 million acres of land in Siberia since the beginning of the year, compared with 944,000 acres in the previous year.
Posted: May 05, 2020
The General Insurance Association of Japan estimates said that local insurers have paid out more than $10 billion in claims related to typhoons Faxai and Hagibis as well as heavy rains that followed the storms.
Posted: May 05, 2020
A report by technology firm Data Labs India Solutions Pvt. Ltd. said that India is expected to lose $320 billion due to 40 days of lockdown to contain the spread of COVID-19 pandemic.
Posted: May 05, 2020
A string of wildfires have hit storage tanks and pumping stations in Venezuela's Orinoco oil belt, forcing some producing areas to temporarily halt output.
Posted: May 05, 2020
The U.A.E. Insurance Authority has said that insurers can merge in order to sustain operations in the difficult situation caused by the COVID-19 pandemic.
Posted: May 05, 2020
Taiwan-based oil firm CPC Corp. suffered a malware attack on May 4, resulting in the crash of the company's website and temporary closure of its gas stations.
Posted: May 05, 2020
There has been a rise in the number of piracy and armed robbery incidents in Mexican waters in the Gulf of Mexico.
Posted: May 05, 2020
American International Group Inc. on Monday posted a 93% drop in quarterly adjusted profit, as it set aside money to cover claims related to the COVID-19 outbreak, which it called the single largest catastrophe loss the industry has ever seen.
Posted: May 04, 2020
Cover Whale Insurance Solutions Inc. has been approved as a coverholder at Lloyd's of London and is working with Lloyd's syndicates to provide commercial auto coverage for trucks in the U.S., the Rancho Santa Margarita, California-based insurtech bro...
Posted: May 04, 2020
CNA Financial Corp. on Monday reported a net loss of $61 million in the first quarter of 2020 compared with a $342 million profit in the same quarter of last year as coronavirus-related market turmoil hit the insurer’s investments.
Posted: May 04, 2020
Brokerage IMA Financial Group Inc. has completed its acquisition of Kittanning, Pennsylvania-based ESS NexTier Insurance Group, in a deal expanding its energy practice and presence in the Northeast.
Posted: May 04, 2020
The Supreme Court of Iowa on Friday denied compensation for cumulative trauma injuries suffered by a custodian who slipped on wet grass in 2008 and continued to suffer after surgery and continued work.
Posted: May 04, 2020
Maryland Gov. Larry Hogan has named Kathleen A. Birrane as commissioner of the Maryland Insurance Administration.
Posted: May 04, 2020
More insurtech deals were completed in the first quarter, compared with the year-earlier period, but overall funding declined 54% to $912 million amid the coronavirus pandemic, according to Willis Towers Watson’s Quarterly InsurTech Briefing released...
Posted: May 04, 2020
A Baltimore police officer is eligible for a disability retirement for injuries suffered in the line of duty after he was diagnosed with memory loss and attention deficits following a work-related concussion, an appeals court in Maryland ruled Friday...
Posted: May 04, 2020
Producers for the television show “Love Island” have vowed to keep producers and contestants safe, but insurers aren’t having it, according to media outlets in the U.K.
Posted: May 04, 2020
Insurers are normally great with numbers. But the coronavirus pandemic has them struggling to estimate how many billions of dollars in losses they face, and what the fallout will be for their massive investment portfolios.
Posted: May 04, 2020