Business Insurance
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
Precision Castparts Corp., a unit of Warren Buffett's Berkshire Hathaway Inc., has been awarded 643 million euros ($700 million) in arbitration for having been fraudulently induced to buy a German maker of pipes and fittings.
Posted: Apr 15, 2020
The question wasn’t how many licks it takes to get to the center of a Tootsie Pop, it was how much the 124-year-old Tootsie Roll Industries Inc. should receive in attorney’s fees after the withdrawal of a case alleging it underfilled boxes of its can...
Posted: Apr 15, 2020
Arkansas Republican Gov. Asa Hutchinson signed an executive order Monday expanding workers compensation for occasional exposure to COVID-19 to first responders and health care workers.
Posted: Apr 15, 2020
In a proposal unveiled Monday, two lawmakers are calling for better protections and “premium pay” for essential workers on the front lines, naming such workers as those in health care, grocery, retail and food service as facing a greater threat.
Posted: Apr 15, 2020
Legislation proposed by House Democrats that would nullify existing exclusions and force insurers to cover business interruption losses from viral pandemics would be the end of the market, insurer groups say.
Posted: Apr 15, 2020
Zoox Inc. said on Tuesday it had settled a lawsuit with Tesla Inc. after admitting that some new hires from the electric carmaker were in possession of certain Tesla documents when they joined the U.S. self-driving car startup.
Posted: Apr 15, 2020
Washington state's attorney general filed a second lawsuit against Facebook Inc. over political ads on Tuesday, saying the social media giant once again failed to make disclosures required under the state's campaign finance laws.
Posted: Apr 15, 2020
Fox News commentators’ statements on the coronavirus were “core political speech” protected by the First Amendment, Fox News said in a motion filed Tuesday seeking to dismiss a lawsuit filed by a Washington state group that charges the news organizat...
Posted: Apr 15, 2020
Fairfax Financial Holdings Inc., which owns Crum & Forster, Allied World Assurance Co. Holdings Ltd. and several other insurers, expects to post a $1.4 billion loss for the first quarter of 2020 due to coronavirus-related investment losses.
Posted: Apr 15, 2020
Most insurance policies bought by smaller United Kingdom companies do not cover disruption caused by the coronavirus pandemic, but those that do should make interim pay-outs quickly, a watchdog said on Wednesday, as insurers come under fire for being...
Posted: Apr 15, 2020
Telemedicine is catching on in workers comp amid the COVID-19 pandemic, as patients and providers grow more comfortable with the technology and state regulators eliminate barriers to its adoption.
Posted: Apr 15, 2020
Several states have expanded or are considering widening access to workers compensation coverage for COVID-19 beyond first responders and health care workers to include all workers labeled essential.
Posted: Apr 15, 2020
Amazon France has been ordered to ship only essential products for the next month and will be fined €1 million ($1.1 million) for each violation of the order.
Posted: Apr 15, 2020
Organized crime cartels are targeting Mexican mining companies, which are winding down their operations to comply with a government-imposed lockdown to contain the spread of the virus.
Posted: Apr 15, 2020
Energy firm Energias de Portugal has suffered a ramsomware attack, in which more than 10TB of sensitive files were stolen.
Posted: Apr 15, 2020
Thailand’s banking sector expects to lose 1.3 trillion Thai baht ($40 billion) due to the coronavirus pandemic.
Posted: Apr 15, 2020
Chinese regulators have issued new rules allowing insurers that want to establish a branch or their change address in the Shanghai Free Trade Zone – or withdraw from zone – to file the necessary documents without first obtaining approval.
Posted: Apr 15, 2020
Malaysia-based RAM Rating Services Berhad expects the coronavirus pandemic to cripple the growth of the local insurance and takaful industry this year.
Posted: Apr 15, 2020
Mexico's National Civil Protection Coordination said that the Popocatepetl volcano erupted on April 13 and spewed incandescent fragments.
Posted: Apr 15, 2020
James A. Kelley has been appointed president of Hanover Specialty Industrial Property, the Hanover Insurance Group Inc. said Tuesday.
Posted: Apr 14, 2020
Alera Group has acquired Silver Spring, Maryland-based Georgetown Insurance Services Inc., the brokerage announced Tuesday.
Posted: Apr 14, 2020
Axis Capital Holdings Ltd. said Tuesday it will donate $1 million and partner with nonprofit organizations to provide pandemic relief globally, as well as in communities in which Axis operates, the insurer and reinsurer said in a statement.
Posted: Apr 14, 2020
A group of Pennsylvania Democratic lawmakers is urging Congress to reimburse property/casualty insurers for costs related to the payment of business interruption insurance claims during the COVID-19 pandemic from federal stimulus funds.
Posted: Apr 14, 2020
Risk Placement Services Inc., the wholesale brokerage operation of Arthur J. Gallagher & Co., has partnered with Munich Re Specialty Insurance to launch a program offering first dollar, low deductible coverage for public entities and special district...
Posted: Apr 14, 2020