Business Insurance
A putative class-action securities lawsuit was filed Friday against a Chinese real estate firm that had its initial public offering in January, charging it made only an oblique reference to the already raging coronavirus pandemic in its offering docu...
Posted: Apr 27, 2020
A federal appeals court has reinstated a lawsuit filed by a former community college women’s softball coach, stating the reasons given for his firing may have been pretext for retaliation for his complaints about athletic association rule violations.
Posted: Apr 27, 2020
The Illinois Workers Compensation Commission unanimously voted Monday morning to repeal an emergency rule that would have allowed most workers in the state who contract COVID-19 to seek coverage for the virus under workers compensation.
Posted: Apr 27, 2020
The U.S. Equal Employment Opportunity Commission on Friday said Baltimore County will pay about $5.4 million to more than 2,000 county employees to resolve a 13-year-old age discrimination lawsuit filed against it by the agency.
Posted: Apr 27, 2020
Axis Capital Holdings estimates it will pay first-quarter catastrophe-related claims of $300 million, including $235 million in COVID-19 claims based on global shelter-in-place orders remaining in effect through July 31, 2020.
Posted: Apr 27, 2020
Aon PLC is imposing an approximately 20% salary cut on about 70% of staff due to the COVID-19 crisis, and CEO Greg Case and other senior executives will take 50% cuts, Mr. Case said in a letter to Aon staff Monday.
Posted: Apr 27, 2020
Jonathan Zaffino, who was named president and CEO of Everest Re Group Ltd.’s insurance unit just over two years ago has resigned to pursue another opportunity.
Posted: Apr 27, 2020
Jonathan Zaffino, who was named president and CEO of Everest Re Group Ltd.’s insurance unit just over two years ago has resigned to pursue another opportunity.
Posted: Apr 27, 2020
Turkey's sovereign wealth fund has purchased all the shares of the six public insurers operating in the country for more than 6.5 billion Turkish lira ($930 million) as part of a consolidation plan.
Posted: Apr 27, 2020
Australian victims are planning to sue Royal Caribbean International cruise line over last year's volcano eruption on New Zealand's White Island, which killed 21 people and injured several others.
Posted: Apr 27, 2020
KC Suri, director of U.K.-based cinema chain Reel Cinemas Ltd., said that French insurer Axa SA has refused to pay up to £7 million ($9 million) for claims related to the coronavirus lockdown.
Posted: Apr 27, 2020
Food delivery workers went on strike in the Brazilian city of Sao Paulo on April 17, joining strikes in several countries over unsafe working conditions in the face of the coronavirus pandemic.
Posted: Apr 27, 2020
Data from the Financial and Capital Market Commission of Latvia showed that local insurers' premiums grew more than 13% year-over-year to nearly €857 million ($927 million) in 2019.
Posted: Apr 27, 2020
South Africa-based insurer Sanlam Ltd. has suspended its plans to expand into Ethiopia and Egypt due to the COVID-19 pandemic.
Posted: Apr 27, 2020
The International Air Transport Association said that the COVID-19 pandemic is expected to cost European airlines up to $89 billion in lost revenues.
Posted: Apr 27, 2020
The disruption to Japan's auto industry from the coronavirus outbreak is expected to continue even after the Golden Week holidays which start from April 29.
Posted: Apr 27, 2020
An earthquake of magnitude 5.6 hit New Zealand's South Island on April 27.
Posted: Apr 27, 2020
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