Business Insurance
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
Iran Insurers Syndicate is seeking financial aid from the government to prevent the collapse of the insurance network due to the COVID-19 pandemic.
Posted: Apr 28, 2020
A parliamentary committee in Australia will review the insurance sector's response to the COVID-19 pandemic.
Posted: Apr 28, 2020
In what is believed to be the first ruling of its kind, a federal district court in New York has ruled that retailers cannot be sued under Title III of the Americans with Disabilities Act for not offering braille gift cards.
Posted: Apr 27, 2020
Jonathan Zaffino, former head of Everest Re Group Ltd.’s insurance operations, will join Ascot Group Ltd. as group president, the Bermuda-based insurer and reinsurer announced Monday.
Posted: Apr 27, 2020
Crawford & Co. said Monday it has named Rohit Verma, who is now its global chief operating officer, as CEO.
Posted: Apr 27, 2020
Simon Hodge has joined McGriff Seibels & Williams Inc. in the new position of executive vice president and co-sales leader of its executive risk advisory group, the Birmingham, Alabama-based broker said Monday.
Posted: Apr 27, 2020
The effect of COVID-19 on workers compensation could range from $1 billion to $80 billion, according to a National Council on Compensation Insurance study that modeled the potential impacts of the virus.
Posted: Apr 27, 2020
Those who wanted to take their insurance planner examinations at the Seokyeong University in Seoul, South Korea, on Saturday were put to the test when COVID-19 protections called for their taking the test outside on a cold soccer field, according to...
Posted: Apr 27, 2020