Business Insurance
Admitting to sensational, unproven claims that their detox teas would help one lose weight, fight cancer, clear clogged arteries, decrease migraines, treat and prevent flus, and treat colds, the marketers of “detox” drinking teas have settled with th...
Posted: Mar 06, 2020
The board of directors of Texas’ Surplus Lines Stamping Office has named former risk manager Greg Brandon as its executive director, effective Monday.
Posted: Mar 06, 2020
A Nevada-domiciled risk retention group aimed at the cannabis sector launched Thursday.
Posted: Mar 06, 2020
(Reuters) — Virgin Media, owned by Liberty Global, on Thursday reported a breach that allowed unauthorized access to the cable company's database that contained personal information of about 900,000 customers.
Posted: Mar 06, 2020
The AFL-CIO is calling on the U.S. Occupational Safety and Health Administration to create an emergency temporary standard to protect workers from the potential coronavirus pandemic and future infectious agents.
Posted: Mar 06, 2020
Washington Gov. Jay Inslee on Thursday announced immediate changes to the state’s workers compensation rules to provide comp coverage for health care workers and first responders who are quarantined following exposure to the coronavirus.
Posted: Mar 06, 2020
Coronavirus dominated this week's news, accounting for five stories in the Business Insurance Top 10. The most highly read story, though, focused on the acceleration in commercial insurance rate hikes in February.
Posted: Mar 06, 2020
Posted: Mar 06, 2020
U.S.-based Property Claim Services Inc. said that reinsurers are likely to look for hedging solutions, including insurance-linked securities, following a rise in claims from the riots that took place in Chile last year.
Posted: Mar 06, 2020
The International Air Transport Association said that the coronavirus outbreak has cost the Middle East airlines nearly $100 million in lost revenue.
Posted: Mar 06, 2020
Insurance Australia Group Ltd. has said that the chances of a category four cyclone hitting Brisbane, the Gold Coast and northern New South Wales, and causing tens of billions of dollars in damage, is higher than ever.
Posted: Mar 06, 2020
U.S.-based insurance rating agency A.M. Best Co. Inc. expects strong growth in the Latin American reinsurance market this year.
Posted: Mar 06, 2020
Austrian insurer Grazer Wechselseitige Versicherung (GRAWE) has received approval from North Macedonia's Insurance Supervision Agency to acquire a more than 75% stake in local insurer Eurolink Osiguruvanje AD for an undisclosed amount.
Posted: Mar 06, 2020
According to Malaysian Industrial Development Finance Research, the local insurance sector might be entering a soft market cycle as insurers' premiums and earnings experienced tapering growth or a decline in the fourth quarter of last year.
Posted: Mar 06, 2020
Ilan Noy, chairman in the Economics of Disasters at Victoria University of Wellington, has said that New Zealand's Earthquake Commission should expect to pay up to 25% more for future weather-related damage claims as climate change exacerbates storm...
Posted: Mar 06, 2020
Insurers, brokers and others say they are cautiously monitoring the situation with regards to the coronavirus, with some imposing limited travel restrictions and canceling events.
Posted: Mar 05, 2020
BOSTON —The increasing number of people remaining in the workforce past traditional retirement age presents challenging questions for the workers compensation industry, according to research presented Thursday at the Workers Compensation Research Ins...
Posted: Mar 05, 2020
The excess and surplus lines market is seeing a strong flow of insurance submissions as standard markets cut back on coverage, said attendees at the Wholesale & Specialty Insurance Association’s underwriting summit earlier this week.
Posted: Mar 05, 2020
The U.S. Occupational Safety and Health Administration on Tuesday announced it has again cited Dollar Tree Stores Inc. for exit and storage hazards — this time at a store in Bethlehem, Pennsylvania, tallying $296,861 in penalties.
Posted: Mar 05, 2020
(Reuters) — The European Central Bank has asked euro zone banks to review their business continuity plans and the actions they can take to prepare for and minimize the potential adverse effects of the coronavirus, a letter seen by Reuters shows.
Posted: Mar 05, 2020
When Nationwide told customers in commercials it would be on their side it’s doubtful the insurer thought such marketing language would help a federal judge make a point and rule against the company for not living up to its promise.
Posted: Mar 05, 2020
Josh Lamberg, founder and CEO of Lamb Insurance Services, has formed a New Jersey-based managing general agency focused on nonprofit and social service organizations.
Posted: Mar 05, 2020
(Reuters) - U.K.-based insurer Aviva PLC shares jumped on Thursday as it posted a record profit in its first year under CEO Maurice Tulloch, although he said the coronavirus outbreak added uncertainty to the outlook.
Posted: Mar 05, 2020
The Association of British Insurers has said that thousands of businesses may not be able to claim losses due to the coronavirus outbreak, despite the government reclassifying the illness as a "notifiable disease."
Posted: Mar 05, 2020
Swiss catastrophe loss data provider Perils AG expects property insurance claims related to the hailstorms that struck Australia in January to total $670 million Australia ($443 million).
Posted: Mar 05, 2020