Business Insurance
What potential plaintiffs see: A person with a friendly face and a nice suit can get you money you deserve. What most insureds envision: Higher insurance rates and, possibly, a courtroom.
Posted: Jun 30, 2022
Specialty insurer and reinsurer Convex Group Ltd. said Thursday its board has named co-founder Paul Brand as group CEO, effective Friday.
Posted: Jun 30, 2022
The former top corporate lawyer at Apple Inc. pleaded guilty on Thursday to insider trading charges, for what prosecutors called a five-year scheme to trade ahead of the iPhone maker's quarterly earnings announcements.
Posted: Jun 30, 2022
Allianz SE said Thursday it has started a multiyear partnership with insurtech Coalition Inc., a managing general agent specializing in cyber risk.
Posted: Jun 30, 2022
The supermarket chain Wegmans agreed to pay $400,000 and upgrade its security practices over a data breach that exposed personal information of more than 3 million consumers nationwide, New York Attorney General Letitia James said on Thursday.
Posted: Jun 30, 2022
Tokio Marine Highland said Thursday it had named Chief Underwriting Officer Norman Heinrich as CEO.
Posted: Jun 30, 2022
U.S.-based credit ratings agency S&P Global Ratings Inc. expects the aggregate net income of Japan’s three major nonlife insurers to remain favorable this year after their net income more than doubled in 2021.
Posted: Jun 30, 2022
U.K.-based specialist insurer CFC Underwriting Ltd. said that growing technology company mergers and acquisitions present new business opportunities for insurance brokers.
Posted: Jun 30, 2022
Romanian energy company Black Sea Oil & Gas SA has officially launched its new Black Sea offshore gas platform, close to Ukraine, without any insurance.
Posted: Jun 30, 2022
South Africa-based insurer African Risk Capacity Group has committed to extend insurance cover to the African agriculture and green energy sectors.
Posted: Jun 30, 2022
According to U.K.-based data analytics firm GlobalData PLC, Mexico’s general insurance industry is expected to be worth $26.1 billion in 2026, up from $18.2 billion in 2021.
Posted: Jun 30, 2022
The U.K.’s Birmingham Crown Court fined brewery Carlsberg Supply Company UK Ltd. in Northampton £3 million ($3.7 million) over an “explosive release” of ammonia gas that killed one worker and injured around 20 others in November 2016.
Posted: Jun 30, 2022
The U.S. Supreme Court on Thursday turned away Alaska Airlines Inc.’s challenge to being bound by the employment laws of states where its workers are based, the central issue in its legal battle with California-based flight attendants.
Posted: Jun 30, 2022
Specialty broker BMS has hired a casualty team from Tysers to support its international clients.
Posted: Jun 30, 2022
Wealth manager and banking group UBS will pay $25 million to settle fraud charges relating to an options trading strategy, the U.S. Securities and Exchange Commission said on Wednesday.
Posted: Jun 29, 2022
The overall property/casualty insurance industry’s combined ratio is heading for more than 100% for the first time since 2017 due to inflationary pressures, but the commercial lines sector’s combined ratio is expected to remain well below that, Stand...
Posted: Jun 29, 2022
More insureds are recognizing they could become the victims of a cyberattack as insurers adjust their pricing to reflect the risks’ increased frequency and severity, says Marsh LLC in a report issued Wednesday.
Posted: Jun 29, 2022
The cost of buying insurance protection against mass shootings has spiked more than 10% in the United States this year following a string of deadly events, insurers said.
Posted: Jun 29, 2022
Acrisure Re, the reinsurance business of broker Acrisure LLC, said Wednesday that its facultative team has signed a preferred partnership broker agreement for Indian facultative business with Mahindra Insurance Brokers of Mumbai, a subsidiary of Mahi...
Posted: Jun 29, 2022
The Occupational Safety and Health Administration’s National Emphasis Program for worker safety in the COVID-19 pandemic will be extended past its upcoming July expiration date, Doug Parker, OSHA’s assistant secretary of labor, told attendees Wednesd...
Posted: Jun 29, 2022
U.K.-based specialty insurer Beazley PLC is offering global access to additional capacity through its Lloyd's of London Syndicate 4321 to the customers who opt for Marsh LLC’s Environmental, Social, and Governance Risk Rating tool.
Posted: Jun 29, 2022
Insurance broker Marsh Ltd. has launched its Cyber Incident Management service for the customers in the U.K. and Europe.
Posted: Jun 29, 2022
The Chinese National Meteorological Center reissued a yellow alert for rainstorms in several parts of southwest China where heavy rainfall and floods are expected this week.
Posted: Jun 29, 2022
The Frankfurt state prosecutor's office searched eight sites of South Korean carmakers Hyundai Motor Co. and Kia Motors Corp. in Germany and Luxembourg over allegations that the companies sold more than 210,000 diesel vehicles fitted with illegal emi...
Posted: Jun 29, 2022
Japan-based nonlife insurer Sompo Holdings Inc. has committed to stop insuring and investing in coal companies by 2025.
Posted: Jun 29, 2022