Business Insurance
Many insurance agents and brokers reported rapid growth in 2021 as rates continued to rise, economic activity recovered from the lockdowns of the prior year, and mergers and acquisitions activity hit record levels.
Posted: Jul 12, 2022
A Great American Insurance Group unit has prevailed in insurance coverage litigation over the sale of a facility that was allegedly overrun by a Mexican drug cartel.
Posted: Jul 11, 2022
The Nebraska Supreme Court on Friday largely overturned a lower court and held an insurer must pay extra expenses associated with a business that moved to a renovated facility after a fire.
Posted: Jul 11, 2022
The number of injured workers using opioids has continued to decline, from 33.3% of all injured workers in 2020 to 30.3% in 2021, according to a report released Monday by Enlyte Group LLC subsidiary Mitchell International Inc.
Posted: Jul 11, 2022
A Florida franchisee of Applebee's Restaurants LLC has agreed to pay $100,000 to settle a sexual orientation and race discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission, the agency said Monday.
Posted: Jul 11, 2022
Chubb Ltd. said Monday that Natalie Chiaramonte has been promoted to division president of Sovereign Risk Insurance Ltd., a Chubb company that underwrites political risk insurance and reinsurance.
Posted: Jul 11, 2022
New York-based insurtech Kalepa Corp. said Monday it is introducing a managing general agency, Kalepa Insurance Services, with capacity provided by units of Ambac Financial Group Inc.
Posted: Jul 11, 2022
Rocket engine maker Aerojet Rocketdyne has agreed to pay $9 million to resolve allegations it misrepresented its compliance with cybersecurity requirements in federal contracts, the U.S. Justice Department said Friday.
Posted: Jul 11, 2022
There will be no Billy Joel concerts, Radio City Rockettes or Knicks games for attorneys involved in litigation against the owner of several prominent entertainment and sports venues in New York.
Posted: Jul 11, 2022
A German regional court’s ruling in the favor of Finnish mobile company Nokia Corp. in its 4G/5G patent dispute against Chinese company Guangdong Oppo Mobile Telecommunications Corp. Ltd. has resulted in a ban on Oppo and OnePlus devices in Germany.
Posted: Jul 11, 2022
Severe wildfires in Portugal injured 29 people and forced the country’s government to declare a heightened state of alert until July 15, as more than 3,000 firefighters continue to tackle the active blazes.
Posted: Jul 11, 2022
Nigeria’s National Insurance Commission has warned that it would revoke the licenses of errant insurers to maintain discipline in the insurance industry and protect policyholders.
Posted: Jul 11, 2022
A report by investment bank RBC Capital Markets LLC said that European reinsurers are best placed to underwrite natural catastrophe risks due to their strong capitalization, and as higher interest rates strengthen their solvency positions.
Posted: Jul 11, 2022
The Insurance Council of Australia said that insurers have received more than 8,400 claims related to damage from the latest floods in Sydney, with initial insured losses estimated at $97.9 million Australian ($67 million).
Posted: Jul 11, 2022
Ireland-based aircraft lessor SMBC Aviation Capital is writing off $1.6 billion worth of aircraft now stuck in Russia following the country’s seizure of jets amid its war in Ukraine.
Posted: Jul 11, 2022
New York’s attorney general on Monday said Teva Pharmaceutical Industries Ltd. lied to evade accountability for helping fuel the state’s opioid crisis.
Posted: Jul 11, 2022
Applied Underwriters Inc. said Monday it would raise staff salaries across the board by 10% to keep up with inflation, effective retroactively to June 20.
Posted: Jul 11, 2022
Requiring a job candidate who had been out of work for six months to sign a pre-employment arbitration agreement as a condition of employment was not “unconscionable,” a federal appeals court said Friday in overturning a lower court decision.
Posted: Jul 08, 2022
A federal judge in Charlotte, North Carolina, on Thursday issued a preliminary injunction against a group of former Willis Towers Watson PLC surety brokers who last month joined rival Alliant Insurance Services Inc.
Posted: Jul 08, 2022
The Occupational Safety and Health Administration assessed a cushion manufacturer $227,907 in penalties after a worker suffered a severe arm injury at a plant in Temple, Texas.
Posted: Jul 08, 2022
Sentry Insurance said Friday that it has named Heather Schenker, formerly vice president of underwriting at Nationwide Insurance, to the newly created position of head of specialty.
Posted: Jul 08, 2022
The third of three Business Insurance Break Out Awards events took place in Los Angeles on Thursday, June 30 2022. Honorees attended the event with colleagues and family.
Posted: Jul 08, 2022
Lloyd’s of London hopes to stay in its financial district tower but will make a final decision later this year, the commercial insurance market said on Friday.
Posted: Jul 08, 2022
Three former JPMorgan Chase & Co employees face a federal trial in Chicago on Friday on accusations they helped turn their trading desk into a criminal enterprise that faked precious metals futures orders to manipulate prices.
Posted: Jul 08, 2022