Business Insurance
Data from Egypt's Financial Regulatory Authority showed that the average retention rate of property/casualty insurers increased 2.5 percentage points year-over-year to nearly 60% in the financial year ended June 30, 2019.
Posted: Apr 01, 2020
Australia-based risk and reputation consulting firm First Light Consulting has formed a crisis response team to help businesses address the impacts of the coronavirus outbreak.
Posted: Apr 01, 2020
Ireland-based insurer FBD Holdings PLC has appointed Paul D'Alton as its interim chief executive.
Posted: Apr 01, 2020
A 4.4-magnitude earthquake hit the Eastern Caribbean region on March 31.
Posted: Apr 01, 2020
A federal appeals court, overturning a lower court ruling, held that Travelers Cos. units must indemnify a Kentucky city in connection with its wrongful conviction of a man for murder.
Posted: Mar 31, 2020
Seventy-one percent of employers surveyed recently say they did not have a pre-existing pandemic management plan or emergency management plan activated in response to COVID-19, according to a report released Monday by the employment law firm BlankRom...
Posted: Mar 31, 2020
Marriott International Inc. said Tuesday that data on about 5.2 million of its guests may have been hacked.
Posted: Mar 31, 2020
More than 30 policyholder groups from retail and other sectors hard-hit by the COVID-19 pandemic on Tuesday joined with major insurance organizations to call on the Trump administration and Congress to create a federal recovery fund to provide liquid...
Posted: Mar 31, 2020
Added to the list of corporate cancellations in light of COVID-19: April Fools’ Day. For the first time in history, Google Inc. plans to cancel its annual April Fools’ Day spoofs due to COVID-19, according to Reuters.
Posted: Mar 31, 2020
European Union states are giving guarantees to credit insurers in a bid to keep coronavirus-hit companies afloat, as some firms cut cover for trade involving bloc members such as Italy and Spain, sources said.
Posted: Mar 31, 2020
Single-payer state workers compensation systems have started seeing claim activity related to COVID-19, although initial reports show that some of the applicants may not qualify, according to at least two states.
Posted: Mar 31, 2020
Lawmakers in Alaska have fast-tracked a comprehensive coronavirus-related bill that would in part grant workers compensation benefits to first responders and health care providers presumably exposed to COVID-19.
Posted: Mar 31, 2020
A Munich Re unit is not obligated to defend or indemnify two organizers of a rum and reggae festival that were sued by an attendee who was injured at the event by an extra-large beach ball, said a federal appeals court Monday, in affirming a lower co...
Posted: Mar 31, 2020
A group of Chicago-based restaurants and movie theaters sued their insurer in federal court Friday seeking coverage for lost revenue due to forced closures during the coronavirus pandemic.
Posted: Mar 31, 2020
Shares of Amarin Corp. plunged nearly 70% on Tuesday after the drugmaker lost a major U.S. patent battle for its heart drug Vascepa, opening the door for generic competition to its main revenue contributor.
Posted: Mar 31, 2020
Willis Re, the reinsurance division of Willis Towers Watson PLC, has named Charles Rumball to the new role of head of specialty-North America, effective April 1, Willis Re said in a statement Tuesday.
Posted: Mar 31, 2020
Insurers, brokers and commercial buyers are adapting to the challenge of negotiating and completing insurance policy renewals while working remotely and avoiding close contact amid the COVID-19 pandemic.
Posted: Mar 31, 2020
Under Australia's WorkSafe ACT, insurers need to make arrangements for workers’ compensation claims should employees contract coronavirus while on the job.
Posted: Mar 31, 2020
Lloyd's of London's gross written premiums increased slightly to nearly £36 billion ($45 billion) last year from £35.5 billion in 2018.
Posted: Mar 31, 2020
U.K.-based telecommunication firm Virgin Media Ltd. could pay up to £4.5 billion ($5.6 billion) in compensation to customers affected in a cyber breach that exposed the personal details of around 900,000 people.
Posted: Mar 31, 2020
The Insurance Council of Australia expects claims related to storms that hit the country's east coast in February to have reached $677 million Australia ($416 million).
Posted: Mar 31, 2020
The People's Insurance Company (Group) of China Ltd.'s premiums grew more than 11% year-over-year to nearly $78 billion in 2019.
Posted: Mar 31, 2020
Saudi Reinsurance Co.'s gross written premiums grew 10% year-on-year to 792 million Saudi riyal ($210 million) in 2019.
Posted: Mar 31, 2020
The China Banking and Insurance Regulatory Commission's Shanghai unit said than 36 property/casualty insurers have paid compensation of nearly 9 million Chinese yuan ($1.3 million) to 271 corporate customers affected by the coronavirus outbreak.
Posted: Mar 31, 2020
Data from the Jordan Insurance Federation showed that marine insurance premiums declined nearly 10% year-over-year to around 18 million Jordanian dinar ($25 million) in 2019 from nearly JOD 20 million in 2018.
Posted: Mar 31, 2020