Business Insurance
Signet Jewelers Ltd. has reached a $240 million settlement of class action securities litigation related to the #MeToo movement and an in-house financing program, the bulk of which will be covered by insurance, according to court and financial docume...
Posted: Mar 30, 2020
New York lawmakers have joined Ohio, Massachusetts and New Jersey in introducing a bill that would force insurers to retroactively cover business interruption claims due to COVID-19.
Posted: Mar 30, 2020
Lockton Cos. LLC said Monday it is opening a new Cleveland office and has named Kyle Anthony to serve as president.
Posted: Mar 30, 2020
A Houston crane company whose worker was electrocuted while dismantling a construction crane too close to a power line was appropriately cited for safety violations, according to a U.S. Occupational Safety and Health Review Commission decision releas...
Posted: Mar 30, 2020
The COVID-19 crisis sweeping the nation, which is battering the economy and pummeling interest rates, has led many to wonder about the ability of insurers to pay claims from individuals and businesses that will inevitably arise from the pandemic.
Posted: Mar 30, 2020
Zurich-based Swiss catastrophe loss data provider Perils AG on Monday said the initial estimate of the insured property market loss for extratropical cyclone Victoria is 286 million euros ($315.14 million).
Posted: Mar 30, 2020
The Bermuda Captive Conference committee has rescheduled its annual conference from June to September due to the global impact of the COVID-19 pandemic.
Posted: Mar 30, 2020
A small New York law firm that specializes in tenant law and is unable to make its $23,000 monthly rent due to the city’s coronavirus shutdown is beating the landlord to the punch.
Posted: Mar 30, 2020
Australian insurer QBE Insurance Ltd. on Monday withdrew its 2020 financial targets due to COVID-19 uncertainty.
Posted: Mar 30, 2020
Risk managers must undertake a fine balancing act in dealing with the coronavirus when it comes to the Americans with Disabilities Act, but are being aided by some leniency on the part of the U.S. Equal Employment Opportunity Commission, say experts.
Posted: Mar 30, 2020
The U.S. Supreme Court on Monday ordered a lower court to reconsider its decision to let comedian-turned-media executive Byron Allen's $10 billion lawsuit accusing cable television operator Charter Communications Inc. of discriminating against black-...
Posted: Mar 30, 2020
New Zealand-based Tower Insurance Ltd. has sued the Earthquake Commission for more than $80 million New Zealand ($48 million) that it spent fixing earthquake-damaged homes in Canterbury.
Posted: Mar 30, 2020
Analysts at U.K.-based investment banking firm Barclays PLC expect the lockdown in India due to the coronavirus outbreak to cost $120 billion.
Posted: Mar 30, 2020
China Taiping Insurance Holdings Co. Ltd.'s premiums grew 12% year-over-year to more than $223 billion Hong Kong ($29 billion) in 2019.
Posted: Mar 30, 2020
Insurance Australia Group Ltd. expects to book a profit of around $310 million in the second half of fiscal year ending June 30.
Posted: Mar 30, 2020
Five insurers have bid for Cairo Opera House's insurance policy tender of 1.8 billion Egyptian pounds ($114 million) to insure its buildings and fleet vehicles.
Posted: Mar 30, 2020
Don Nakornthab, director of economic policy at Thailand's central bank, said that the coronavirus outbreak is expected to cost the tourism industry 250 billion Thai baht ($7.6 billion) in lost revenue this year.
Posted: Mar 30, 2020
U.A.E-based takaful insurer Islamic Arab Insurance Co.'s gross written premiums grew more than 6% year-over-year to 1.1 billion United Arab Emirates dirhams ($301 million) in 2019.
Posted: Mar 30, 2020
Organizations’ average investment in technology/software for risk management, excluding human resources, saw an average increase in the past year of 8.24%, or $234,589, according to a Business Insurance online survey on technology used in risk manage...
Posted: Mar 30, 2020
A Chubb Ltd. unit must pay $998,618 plus other expenses to a textiles company under a marine policy in connection with the nonpayment for goods sent to customer that went bankrupt, a federal court ruled Thursday.
Posted: Mar 27, 2020
North Dakota Gov. Doug Burgum signed an executive order Wednesday that extends worker compensation coverage to first responders and health care providers who contract coronavirus on the job. The order covers an estimated 80,000 workers in the state.
Posted: Mar 27, 2020
With the coronavirus pandemic and massive quarantines producing a spike in telecommuting, employment experts say employers should reintroduce anti-harassment training and protocols because those unused to communicating solely online may cross a line.
Posted: Mar 27, 2020
Insurers doing business in California have until April 9 to submit data regarding business interruption coverage provided under their existing commercial insurance policies related to COVID-19 under an order issued Thursday by Insurance Commissioner...
Posted: Mar 27, 2020
Thousands of London's underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won't need them.
Posted: Mar 27, 2020
With much of everyday society driven into quarantine, could the coronavirus pandemic drive down car insurance premiums? With fewer cars on the road, that’s what consumer advocacy groups are calling for.
Posted: Mar 27, 2020