Business Insurance
U.S.-based Facebook Inc. could be fined up to $529 billion Australia ($351 billion) in Australia for allegedly breaching privacy law by disclosing the personal details of more than 300,000 users for political profiling.
Posted: Mar 10, 2020
Wayne Byres, chairman of the Australian Prudential Regulation Authority, said that claims related to the natural disasters that struck the nation during the summer are expected to surpass $5 billion Australia ($3.3 billion).
Posted: Mar 10, 2020
German flag carrier Deutsche Lufthansa AG plans to ground its entire fleet of Airbus A380 aircraft until May amid a decline in bookings due to the coronavirus outbreak.
Posted: Mar 10, 2020
The Korea Civil Aviation Association has said that the coronavirus outbreak could cost local airlines around 5.875 trillion South Korean won ($5 billion) in lost sales in the first half of the year.
Posted: Mar 10, 2020
Senegalese insurers have formed Oil & Gas Risk Insurance Pool to win large insurance contracts in the fossil fuels sector.
Posted: Mar 10, 2020
The Sindh Environmental Protection Agency has ordered Pakistan-based conglomerate Engro Corp. to halt operations at its subsidiary Engro Polymer & Chemicals Ltd.'s plant in Port Qasim following a leak of toxic chlorine gas on March 6.
Posted: Mar 10, 2020
(Reuters) — A Florida couple who were passengers on the Grand Princess ocean liner linked to the coronavirus outbreak have sued the ship's owner for more than $1 million for putting the couple's health at risk, according to a lawsuit filed on Monday.
Posted: Mar 09, 2020
The insurance industry has created a “fake” crisis allegedly generated by high jury awards, although it is enjoying a record surplus, say two consumer organizations, in a report issued Monday.
Posted: Mar 09, 2020
Posted: Mar 09, 2020
The proposed combination of Aon PLC and Willis Towers Watson PLC must clear regulatory hurdles in many jurisdictions but senior executives expressed confidence Monday that the deal will be approved.
Posted: Mar 09, 2020
Aon PLC’s proposed acquisition of Willis Towers Watson PLC will create a huge brokerage but other rivals will likely pick up personnel and business from the firms as the purchase is digested, observers say.
Posted: Mar 09, 2020
Aon PLC’s proposed acquisition of Willis Towers Watson PLC will create the world’s largest insurance brokerage, outstripping rival Marsh & McLennan Cos. Inc.
Posted: Mar 09, 2020
Risk managers responded cautiously to the news of the planned nearly $30 billion merger between Aon PLC and Willis Towers Watson PLC, pointing out it raises concerns about the reduced competition among brokers.
Posted: Mar 09, 2020
Hospital costs in workers compensation continue to decrease, likely due to fewer surgeries, changes in reimbursement and a shift from hospital in-patient care to outpatient care, according to research presented Friday at the Workers Compensation Rese...
Posted: Mar 09, 2020
An injured worker’s personal injury claims are barred by the Workers Compensation Act, an appellate court in Georgia held Friday.
Posted: Mar 09, 2020
CAC Specialty named former Marsh & McLennan Cos. Inc. executive Carrie O’Neil to the newly created position of senior vice president of financial lines legal and claims practice, the broker said in a statement Monday.
Posted: Mar 09, 2020
The Supreme Court of South Carolina on Wednesday ruled that the live-in girlfriend of a man who drowned while operating a boat for a historic plantation museum is not eligible for death benefits because she could not prove dependency.
Posted: Mar 09, 2020
(Reuters) — Faulty systems on a Boeing 737 MAX plane were singled out in Ethiopian investigators' interim report on last year's Ethiopian Airlines crash that killed 157 people, pressuring the U.S. manufacturer on the eve of the disaster's anniversary...
Posted: Mar 09, 2020
Posted: Mar 09, 2020
A report by U.S.-based insurance rating agency A.M. Best Co. Inc. has said that the coronavirus outbreak could put European insurers’ balance sheets under stress, although the biggest impact is likely to come from the ensuing economic fallout rather...
Posted: Mar 09, 2020
Wayne Byres, chairman of the Australian Prudential Regulation Authority, said that the regulator has been focused on the adequacy of insurers' reinsurance arrangements.
Posted: Mar 09, 2020
Italy's decision to put up to 16 million people under quarantine in northern Italy, to contain the coronavirus, will effectively shut down a significant part of the economy.
Posted: Mar 09, 2020
Bulgarian reinsurer EIG Re EAD has received approval from the Financial Supervision Commission to provide ship and surety ship insurance.
Posted: Mar 09, 2020
Sunday Thomas, acting commissioner at the National Insurance Commission of Nigeria, said the risks arising from the macro-economic environment, including high inflation and interest rates and foreign exchange instability, threaten the local insurance...
Posted: Mar 09, 2020
A survey by Allianz Global Corporate & Specialty SE found that the Philippine executives named business interruption the top risk facing local firms.
Posted: Mar 09, 2020