Business Insurance
(Reuters) — The chief executive of Japan Post Holdings Co. Ltd., Hiroya Masuda, said on Friday that the conglomerate could not say when it would resume selling insurance products, after being banned from doing so by the government.
Posted: Jan 31, 2020
Australia-based insurer Suncorp Group Ltd. has said that "unprecedented" catastrophes will drive recoveries across its reinsurance program, including its main program, drop-downs and aggregate reinsurance including its stop-loss.
Posted: Jan 31, 2020
The eruption of Taal volcano is expected to cost the economy of Calabrazon region in the Philippines 6.7 billion Philippine pesos ($131 million).
Posted: Jan 31, 2020
China's automobile production is set to fall sharply as automakers withdraw staff fearing a coronavirus epidemic.
Posted: Jan 31, 2020
A 5.1-magnitude earthquake hit the Mexican city of Acapulco on Jan. 29.
Posted: Jan 31, 2020
Data from the Albanian Financial Supervisory Authority showed that gross written premiums grew more than 4% year-on-year to 17.6 billion Albanian leks ($157 million) last year.
Posted: Jan 31, 2020
The Insurance Commission of the Philippines has signed a memorandum of understanding to set up a catastrophe insurance facility for the private sector.
Posted: Jan 31, 2020
An insurer is obligated to defend a contractor in arbitration over a construction project under a provision in its commercial general liability policy, says a federal appeals court, in affirming a lower court ruling.
Posted: Jan 30, 2020
MS Amlin has named four division heads for its new specialty business, the insurer and reinsurer said in a statement Thursday.
Posted: Jan 30, 2020
The second state in a week to see a bill that would provide workers compensation benefits to first responders diagnosed with post-traumatic stress disorder, lawmakers in South Dakota on Wednesday unveiled their own legislation.
Posted: Jan 30, 2020
Liberty Mutual Insurance Co. named Tracy Ryan president of global risk solutions, North America, on Thursday.
Posted: Jan 30, 2020
Two men charged with multiple insurance fraud counts stemming from bogus screenings and prescriptions for injured workers surrendered to authorities last week, the California Department of Insurance announced Wednesday.
Posted: Jan 30, 2020
(Reuters) — Facebook Inc. said on Wednesday it reached a $550 million settlement in principle related to a lawsuit that claimed it illegally collected and stored biometric data for millions of users without their consent.
Posted: Jan 30, 2020
(Reuters) — A lawyer for Michael Avenatti told a jury that Nike Inc. was being probed by the U.S. Securities and Exchange Commission over claims that it made illicit payments to elite youth basketball players, Bloomberg reported on Wednesday.
Posted: Jan 30, 2020
(Reuters) — U.S. refineries and petrochemical plants are cutting back on insurance because several years of severe accidents have driven up the cost of coverage, industry and insurance sources said.
Posted: Jan 30, 2020
Marsh & McLennan Cos. Inc. reported a jump in revenue for the fourth quarter of 2019, largely due to the addition of business from Jardine Lloyd Thompson Group PLC, but organic growth was more modest as integration of the two businesses continued, th...
Posted: Jan 30, 2020
Except in fiction, rarely do tornado stories feature happy endings. But this tale out of Garland, Texas, rings true.
Posted: Jan 30, 2020
The Insurance Council of Australia expects at least 41,000 claims related to hailstorms that struck eastern Melbourne, the Australian Capital Territory and parts of New South Wales on Jan. 19 and Jan. 20.
Posted: Jan 30, 2020
The global film industry's box office revenue is expected to take a hit of up to $2 billion as China shutters 70,000 movie screens to limit the spread of coronavirus.
Posted: Jan 30, 2020
The Popocatepetl volcano in Mexico erupted on Jan. 27, spewing smoke and incandescent material.
Posted: Jan 30, 2020
Tunisia-based reinsurer La Societe Tunisienne de Reassurance's (Tunis Re) premiums increased 11% year-over-year to nearly 158 million Tunisian dinar ($55.7 million) last year.
Posted: Jan 30, 2020
Mohamed Mahran, managing director of Allianz Insurance-Egypt, said that the insurer expects improved economic growth to enhance its presence in Egypt.
Posted: Jan 30, 2020
Mohamed Mahran, managing director of Allianz Insurance-Egypt, said that the insurer expects improved economic growth to enhance its presence in Egypt.
Posted: Jan 30, 2020
A bushfire in south Canberra is being considered as the most serious bushfire threat to the Australian capital since 2003.
Posted: Jan 30, 2020
Valdis Dombrovskis, vice president of the European Commission, has said that insurers in Europe may need to put aside money to protect their policyholders should they become insolvent.
Posted: Jan 30, 2020