Business Insurance
The U.S. Equal Employment Opportunity Commission has officially sanctioned employer use of COVID-19 testing, but its updated guidance on the issue raises several unanswered questions, an expert says.
Posted: Apr 24, 2020
Everest Re Group Ltd. estimated its first-quarter earnings will be hit by $150 million in pretax losses from the COVID-19 pandemic, mainly from its reinsurance business.
Posted: Apr 24, 2020
Liability cannot be allocated across multiple insurers and policy periods when damage occurred at a discernible time, said the Ohio Supreme Court Thursday, in ruling in favor of an American International Group Inc. unit in a dispute with a chemical c...
Posted: Apr 24, 2020
An Illinois judge issued a temporary restraining order that halts workers compensation expansions for employees who acquire COVID-19 from taking effect in the state.
Posted: Apr 24, 2020
Stefan Lippe, CEO of Swiss Re Ltd. from 2009 to 2012 and a veteran executive who worked at the reinsurer for more than 30 years, has died of complications from COVID-19, according to Swiss press reports. He was 65.
Posted: Apr 24, 2020
New York City Comptroller Scott Stringer on Friday urged the executives of three large insurance companies to end their ties with the coal industry.
Posted: Apr 24, 2020
Several business groups this week are calling on California Gov. Gary Newsom to be cautious in issuing an executive order that would clear red tape for worker compensation benefits to essential workers suffering from COVID-19, as other states have do...
Posted: Apr 24, 2020
Several business groups this week are calling on California Gov. Gary Newsom to be cautious in issuing an executive order that would clear red tape for worker compensation benefits to essential workers suffering from COVID-19, as other states have do...
Posted: Apr 24, 2020
England’s Duke and Duchess of Sussex, now known as Harry and Meghan and living in Los Angeles, dialed into a London high court hearing on Friday to prepare for Meghan Markel's lawsuit against Associated Newspapers, which she claims violated her right...
Posted: Apr 24, 2020
Past changes to the federal terrorism insurance backstop have reduced the government’s exposure to the program and the market for coverage remains stable, but there is potential for confusion over coverage issues should a loss occur, according to rep...
Posted: Apr 24, 2020
Past changes to the federal terrorism insurance backstop have reduced the government’s exposure to the program and the market for coverage remains stable, but there is potential for confusion over coverage issues should a loss occur, according to rep...
Posted: Apr 24, 2020
Fifty-four percent of employers intend to reduce the number of onsite employees when planning return-to-work strategies amid the ongoing coronavirus pandemic, according to survey results released Thursday by Mercer Human Resource Consulting.
Posted: Apr 24, 2020
Apple Inc. said on Thursday it has found "no evidence" a flaw in its email app for iPhones and iPads has been used against customers, and that it believes the flaw does "not pose an immediate risk to our users."
Posted: Apr 24, 2020
Interest in COVID-19 litigation is running high, as businesses across a range of industries sue insurers seeking payment of business interruption claims. Topping this week’s Top 10 is a report on Travelers striking back with a claims denial suit.
Posted: Apr 24, 2020
The 2020 Rendez-Vous de Septembre, the annual international reinsurance meeting held in Monte Carlo, Monaco, since 1957, has been canceled due to the coronavirus pandemic.
Posted: Apr 24, 2020
George Nassaouati, head of natural resources Asia at U.K.-based insurance broker Willis Towers Watson PLC, said that upstream energy insurance capacity in Singapore has fallen significantly since last year.
Posted: Apr 24, 2020
The U.K.'s cruise industry is expected to lose nearly £2.4 billion ($3 billion) as a result of a 90-day suspension of services due to the COVID-19 pandemic.
Posted: Apr 24, 2020
The COVID-19 pandemic has hit Latin America's tourism and hospitality sector hard, with most countries imposing strict curfews, travel restrictions and mandatory lockdowns.
Posted: Apr 24, 2020
Indian ratings firm Crisil Ltd. said that the COVID-19 pandemic could have cost local refiners 250 billion Indian rupees (3.3 billion) during the first quarter as oil prices slumped due to a fall in demand.
Posted: Apr 24, 2020
German flag carrier Deutsche Lufthansa AG's operating loss widened to €1.2 billion ($1.3 billion) in the first quarter, compared with a loss of €336 million in the previous year, due to the coronavirus pandemic.
Posted: Apr 24, 2020
Bermuda-based insurer and reinsurer Sompo International Holdings Ltd. is offering crop insurance in Portugal via its agriculture platform AgriSompo.
Posted: Apr 24, 2020
The U.S. Geological Survey has said that an earthquake of magnitude 5.5 hit Puerto Madero in Mexico on April 24.
Posted: Apr 24, 2020
Companies can expect higher directors and officers liability insurance rates, lower limits and more exclusions in their policies due to the coronavirus pandemic, experts say.
Posted: Apr 23, 2020
Aon PLC on Thursday said it would not cut its workforce due to the coronavirus pandemic.
Posted: Apr 23, 2020
The U.S. Supreme Court on Thursday rejected arguments by President Donald Trump's administration in a Hawaii case brought by environmentalists by saying that polluters are sometimes required to obtain permits under a landmark water pollution law for...
Posted: Apr 23, 2020