Business Insurance
A titanium products manufacturer for the commercial and military aerospace industry sued its insurer in federal court Monday seeking coverage for business income losses related to the COVID-19 pandemic.
Posted: Apr 23, 2020
Ping An Insurance (Group) Co. of China Ltd, on Thursday reported a 42.7% drop in first-quarter profit, its biggest fall in quarterly profits in more than eight years, as the coronavirus outbreak disrupted its businesses.
Posted: Apr 23, 2020
The Croatian government said that the 5.3-magnitude earthquake that struck the capital city of Zagreb on March 22 caused around 42 billion Croatian kuna ($6 billion) worth of damage.
Posted: Apr 23, 2020
Mark Mobius, founder of U.K.-based asset manager Mobius Capital Partners LLP, said that companies around the world will alter their supply chains to be less dependent on China following the coronavirus pandemic.
Posted: Apr 23, 2020
Germany-based Hannover Re SE has withdrawn its profit guidance for the current year due to the COVID-19 pandemic.
Posted: Apr 23, 2020
France-based reinsurer Scor SE experienced a 6.6% increase in pricing, while premiums written rose nearly 6% at the April reinsurance renewals.
Posted: Apr 23, 2020
Airline Aerovias de Mexico SA de CV posted a loss of more than 2.5 billion Mexican pesos ($102 million) in the first quarter due to the coronavirus pandemic.
Posted: Apr 23, 2020
A database containing information about 3,000 employees of Italian bank UniCredit SpA has been available for sale on cybercrime forums since April 19.
Posted: Apr 23, 2020
Sal Zaffino, former chairman of Guy Carpenter & Co. LLC, died on Sunday. He was 74.
Posted: Apr 22, 2020
Business Insurance has commissioned our third annual survey on the property insurance market, which is conducted by Signet, an independent research company.
Posted: Apr 22, 2020
Hackers working in support of the Vietnamese government have attempted to break into Chinese state organizations at the center of Beijing's effort to contain the coronavirus outbreak, U.S. cybersecurity firm FireEye said on Wednesday.
Posted: Apr 22, 2020
A Missouri Department of Transportation worker who witnessed death on the job and claims she suffered post-traumatic stress disorder leading to permanent disability can submit new evidence after the Supreme Court of Missouri in 2017 reversed her awar...
Posted: Apr 22, 2020
Chubb Ltd. posted first-quarter net income of $252 million compared with $1.04 billion a year ago, as the company saw a reduction of more than $900 million in adjusted net realized losses, according to its earnings release Tuesday.
Posted: Apr 22, 2020
You may want to resist that smiley face emoji, the frown, the thumbs up or down, or the cute one with the eyeglasses if you want to seem professional in business communications.
Posted: Apr 22, 2020
Ten of the world's largest banks, including JPMorgan Chase & Co. and Bank of America Corp., have been sued for allegedly conspiring over nearly 14 years to rig prices in the $9.6 trillion U.S. corporate bond market, costing ordinary investors billion...
Posted: Apr 22, 2020
Missouri became on Tuesday the first U.S. state to sue the Chinese government over its handling of the coronavirus, saying that China's response to the outbreak that originated in the city of Wuhan brought devastating economic losses to the state.
Posted: Apr 22, 2020
AssuredPartners Inc. has acquired Transportation Insurance Advisors LLC, a specialist trucking agency in Sanford, Florida.
Posted: Apr 22, 2020
nsurer Beazley PLC estimated coronavirus-related claims at $170 million on Wednesday and said it was rejecting claims from small companies for business interruption in the crisis, while also reporting a $55 million loss in the first quarter due to th...
Posted: Apr 22, 2020
TigerRisk Partners LLC has sold an unspecified stake in the reinsurance brokerage to private equity investment firm Flexpoint Ford LLC, the firms announced Tuesday.
Posted: Apr 22, 2020
The coronavirus pandemic has created constantly changing safety challenges for employers operating businesses considered essential, such as grocery stores, delivery companies and food-processing plants, experts say.
Posted: Apr 22, 2020
More than 75% of companies in Germany's engineering sector do not expect the supply-chain disruptions caused by the coronavirus pandemic to ease in the next three months.
Posted: Apr 22, 2020
Australia-based timber firm Kangaroo Island Plantation Timbers Ltd. has received a second progress claims payment of $10 million Australia ($6.3 million) from its tree crop insurance policy following the summer bushfires that damaged 95% of its crop.
Posted: Apr 22, 2020
Data from the Financial Supervisory Service showed that net profit of South Korean insurers' overseas branches tripled year-over-year to nearly $70 million in 2019.
Posted: Apr 22, 2020
New Zealand-based insurer Tower Ltd. expects cyclone Harold-related claims of up to $10 million New Zealand ($6 million) before tax.
Posted: Apr 22, 2020
Kevin Roberts, chief executive of Australia's cricket governing body, said that it could lose hundreds of millions of dollars if this year's Test match tour by India is called-off because of the coronavirus pandemic.
Posted: Apr 22, 2020