Business Insurance
In an eagerly awaited decision, Delaware’s Supreme Court has unanimously overturned a lower court ruling and held that companies’ charters can require actions filed under federal securities law to be filed only in federal court.
Posted: Mar 18, 2020
New York lawmakers and Gov. Andrew Cuomo agreed on Wednesday to legislation that will expand paid sick leave and disability payments for workers who have contracted or been exposed to COVID-19 in the workplace.
Posted: Mar 18, 2020
Several states have issued statements and created websites to help workers understand whether they may be eligible for workers compensation and disability payments if they are exposed to or contract COVID-19 in the workplace.
Posted: Mar 18, 2020
A.M. Best & Co. on Wednesday said it will stress-test the balance sheets of its rated insurers to gauge the impact of the coronavirus pandemic fallout on their risk-adjusted capital levels, investment portfolios, reserve adequacy among other aspects.
Posted: Mar 18, 2020
An Argo Group unit is obligated to defend a Missouri county in a case where its police officers had arrested a man who was subsequently exonerated for his wife’s murder, says a federal appeals court, in affirming a lower court ruling.
Posted: Mar 18, 2020
(Reuters) — Insurance companies should take measures to preserve their capital position and be prudent about dividend and bonus payments as the coronavirus outbreak disrupts households and businesses, the European insurance watchdog said.
Posted: Mar 18, 2020
Insurers believe most business interruption policies will not be triggered by the coronavirus, according to a report Wednesday from investment bank Piper Sandler & Co.
Posted: Mar 18, 2020
At least one state is clearing the way for more telemedicine visits in workers compensation to limit contact between individuals in light of coronavirus quarantines and at least two providers of services for injured workers are increasing remote offe...
Posted: Mar 18, 2020
(Reuters) — A former prosecutor who ran the sex crimes unit in the Manhattan District Attorney’s office in 1989 sued Netflix on Wednesday for defamation over her portrayal in "When They See Us," claiming the miniseries about the “Central Park Five” f...
Posted: Mar 18, 2020
Hong Kong-based Cathay Pacific Airways Ltd. lost more than $2 billion Hong Kong ($258 million) in February due to the coronavirus outbreak.
Posted: Mar 18, 2020
Analysts at U.S.-based financial services provider JMP Securities LLC expect loss development from Japanese typhoon Hagibis to be less severe than that of typhoon Jebi which hit Japan in 2018.
Posted: Mar 18, 2020
Japan-based Nissan Motor Co. Ltd. has suspended production at its Sunderland plant in the United Kingdom in the wake of the coronavirus outbreak.
Posted: Mar 18, 2020
Austria-based Vienna Insurance Group AG's pre-tax profit increased nearly 7.5% to €522 million ($578 million) last year.
Posted: Mar 18, 2020
A report by U.S.-based consultancy firm Deloitte Touche Tohmatsu Ltd. said that significant insurance mergers and acquisitions opportunities are likely to emerge in Australia this year as banks evaluate strategic options for non-core assets.
Posted: Mar 18, 2020
South Africa-based insurer Sanlam Ltd.'s profit fell 19% last year due to higher claims in markets it recently entered.
Posted: Mar 18, 2020
A 5.6 magnitude earthquake hit Chile on March 17.
Posted: Mar 18, 2020
The coronavirus pandemic could lead to increased medical malpractice claims, but much remains uncertain at this point, including the possibility of federal and state governments acting to relieve health care provider liability, say observers.
Posted: Mar 17, 2020
Occupational health service company ODG, a division of Seattle-based MCG Health LLC, has named Patrick Robinson vice president and director of governmental affairs.
Posted: Mar 17, 2020
Harrison, New York-based insurtech firm Integrated Specialty Coverages Inc. has acquired wholesaler Access Partners LLC, a multi-line wholesale broker.
Posted: Mar 17, 2020
(Reuters) — Volkswagen AG said its diesel cheating scandal has cost it 31.3 billion euros ($34.69 billion) in fines and settlements, and the German carmaker expects cash outflows to continue until 2021, adding that these have already been provisioned...
Posted: Mar 17, 2020
A New Orleans restaurant facing operating restrictions due to the coronavirus pandemic filed suit Monday seeking a declaratory judgment that its insurer should cover related business interruption losses.
Posted: Mar 17, 2020
(Reuters) — Lloyd’s of London has asked its member firms to provide estimates of their potential current and final losses from coronavirus, a spokesman said on Tuesday, to help the insurance market understand its possible overall losses from the impa...
Posted: Mar 17, 2020
Bermuda-based Aspen Insurance Holdings Ltd. on Monday named Kevin Chidwick group chief financial officer from May 1, as it reported a net loss after tax of $241.7 million in 2019.
Posted: Mar 17, 2020
The 9th U.S. Circuit Court of Appeals feels The Walt Disney Co. did not steal a child development expert’s idea for a show about color coding one’s feelings when it created the 2015 film “Inside Out,” according to a ruling issued Monday.
Posted: Mar 17, 2020
Workers compensation courts and offices throughout the U.S. have announced closures and changes to schedules and processes as the country grapples with the uncertainty surrounding coronavirus.
Posted: Mar 17, 2020