Business Insurance
Mobile apps used by EU countries to contain the spread of the coronavirus should comply with the bloc's privacy rules and seek people's consent to use personal data, but exclude location data, the European Commission said on Thursday.
Posted: Apr 16, 2020
Arch Capital Group Ltd. expects to see pre-tax losses across its property/casualty insurance and reinsurance segments of $85 million to $95 million for claims incurred due to the COVID-19 pandemic as of March 31, net of reinsurance recoveries and rei...
Posted: Apr 16, 2020
The Federation of European Risk Management Associations on Thursday urged the European Commission to back the development of public-private partnerships to cover future pandemic risks.
Posted: Apr 16, 2020
Sedgwick Claims Management Services Inc. on Thursday announced the expansion of the company’s disability and absence solutions for mid-size employers in the market.
Posted: Apr 16, 2020
Medical payments per workers compensation claim increased in most states in 2018 after a period of relative stability, according to a series of studies released Thursday by the Workers Compensation Research Institute.
Posted: Apr 16, 2020
Catastrophe risk modeler AIR Worldwide has launched a COVID-19 projection tool, AIR said in a statement Wednesday.
Posted: Apr 16, 2020
Pennsylvania Gov. Tom Wolf signed an executive order on Wednesday defining the safety protections that will be required for critical workers authorized to maintain in-person operations during the pandemic.
Posted: Apr 16, 2020
Aon PLC remains mum on plans to rename the Willis Tower after it announced plans to purchase Willis Towers Watson PLC and to incorporate all the brokerage services under its own brand.
Posted: Apr 16, 2020
Wisconsin Gov. Tony Evers signed into law on Thursday a bill that expands workers compensation coverage for COVID-19 to first responders.
Posted: Apr 16, 2020
A federal judge said Tesla Inc. and Chief Executive Elon Musk must face a lawsuit claiming they misled shareholders when Mr. Musk tweeted that he had secured funding to take his electric car company private in a $72 billion transaction.
Posted: Apr 16, 2020
New York’s Metropolitan Transportation Authority on Wednesday announced an agreement with union leaders to give surviving family members of transit workers who die of COVID-19 complications $500,000.
Posted: Apr 16, 2020
COVID-19 has led to a multibillion-dollar loss for the contingency market, while coronavirus exclusions are being applied on all new and renewal health care business, according to a London market update from Miller Insurance Services LLP.
Posted: Apr 16, 2020
Posted: Apr 16, 2020
Malaysian insurer AMMB Holdings Berhad and Insurance Australia Group Ltd. are again looking to sell Malaysia-based AmGeneral Insurance Berhad for up to $1 billion.
Posted: Apr 16, 2020
Penasquito Polymetallic silver mine in Mexico has temporarily suspended operations to comply with government restrictions aimed at curbing the spread of coronavirus.
Posted: Apr 16, 2020
Bermuda-based insurer and reinsurer Sompo International Holdings Ltd. plans to consolidate its London presence into a single platform in January 2021.
Posted: Apr 16, 2020
Data showed that Indian nonlife insurers' gross written premiums fell more than 10% year-over-year to nearly 158 billion Indian rupees ($2 billion) in March.
Posted: Apr 16, 2020
Bermuda-based insurer Hiscox Ltd. said that none of the insurance-linked securities funds under its management are exposed to its U.K. small and medium-sized enterprise business interruption policies.
Posted: Apr 16, 2020
Ten days of forest fires have destroyed 30% of tourist attractions in the exclusion zone surrounding Chernobyl Nuclear Power Plant in Ukraine.
Posted: Apr 16, 2020
Saeed Ahmed, executive director of U.A.E.-based United Gulf Insurance Brokers LLC, said that local insurers are unable to offer sports insurance because of their lack of capacity and expertise in the field.
Posted: Apr 16, 2020
The statute of limitations in a case involving a forged check endorsement is based on when the bank customer reasonably discovers it, not when the customer receives the bank statement, says a federal appeals court, in reversing a lower court ruling a...
Posted: Apr 15, 2020
Beazley PLC named Bethany Greenwood global head of cyber and executive risk, effective in July.
Posted: Apr 15, 2020
An insurer on Monday filed a lawsuit asking a U.S. district court to rule it does not have to defend a Georgia hotel company for allegations it knew a woman was being sex-trafficked at one of its hotels because the insurance policy does not list the...
Posted: Apr 15, 2020
U.S. companies are grappling with how best to provide guidance on their earnings outlook as the novel coronavirus takes uncertainty to new heights and exposes them to potential shareholder lawsuits if forecasts prove misplaced.
Posted: Apr 15, 2020
Hiscox Ltd. said in a statement Wednesday that its “core policy wordings” for U.K. businesses do not cover most business interruption claims related to the coronavirus pandemic.
Posted: Apr 15, 2020