Business Insurance
Analysts at A.M. Best Co. Inc. said Kazakhstan’s insurance market demonstrated great resilience against COVID-19 related economic challenges, recording over 43% year-on-year growth in total gross written premium to 815 billion Kazakhstani tenge ($1.9...
Posted: Jul 04, 2022
Christos Adamantiadis, CEO Middle East and Africa at Marsh LLC, said that soaring inflation has made it difficult for companies to accurately estimate the value of their assets and subsequent business interruption costs.
Posted: Jul 04, 2022
Bosnia and Herzegovina-based insurer Central Osiguranje dd is looking to merge with local counterpart ASA Osiguranje dd.
Posted: Jul 04, 2022
The Dubai Sports Council has made insurance compulsory for all the sports events, effective Sept. 1.
Posted: Jul 04, 2022
World’s largest chocolate maker Barry Callebaut AG suspended production at its chocolate factory in the Belgian town of Wieze after a salmonella outbreak.
Posted: Jul 01, 2022
Data from the Russian Central Bank said that local insurers’ aggregate gross written premium dropped almost 2% year-on-year to 452.3 billion Russian rubles ($8.4 billion) in the first quarter of the year due to weakening foreign trade and financial c...
Posted: Jul 01, 2022
U.K.-based PricewaterhouseCoopers LLP expects U.K. businesses to face up to a 20% increase in their annual insurance bills as insurers hike premium rates to cover the climbing cost of claims resulting from surging inflation and supply chain disruptio...
Posted: Jul 01, 2022
Leadership changes at Everest Insurance, the insurance division of Everest Re Group, top this week’s news. Also of note: An analysis of the potential exposures employers could face for covering the travel costs of employees who go to other states for...
Posted: Jul 01, 2022
Policy committees in the California Senate passed a bill that would extend COVID-19 presumptions for two years.
Posted: Jul 01, 2022
Marsh LLC on Friday named Stephen Horstkamp U.S. chemical practice leader, effective immediately, succeeding Mary Russell, who is retiring from the company.
Posted: Jul 01, 2022
The U.S. Occupational Safety and Health Administration is extending its revised National Emphasis Program for COVID-19, set to expire July 7, until further notice and doubling its inspections goal, the Department of Labor announced Thursday.
Posted: Jul 01, 2022
Catastrophe bond issuance remained buoyant in the first half of this year, with $7.7 billion in new issuance following a record year in 2021, according to a report released Friday by Moody’s Investors Service Inc.
Posted: Jul 01, 2022
Three Black coaches who have accused the National Football League in a lawsuit of racist hiring practices want to question league Commissioner Roger Goodell under oath as they try to keep the case in federal court rather than move to arbitration.
Posted: Jul 01, 2022
Mid-year reinsurance renewals showed hefty increases in U.S. property business and more modest casualty rate movements, according to a report Friday from Gallagher Re, the reinsurance business of Arthur J. Gallagher & Co.
Posted: Jul 01, 2022
Marsh LLC said Thursday the London-market arms of American International Group Inc., Berkshire Hathaway Specialty Insurance, Sompo International, Starr Insurance Cos., Hartford Financial Services Group Inc. and Zurich Insurance Group are participatin...
Posted: Jun 30, 2022
A federal appeals court Wednesday affirmed a lower court ruling in a Munich Re unit’s favor in a coverage dispute with a Florida public entity risk management program that contended the reinsurer was forbidden from second-guessing its decision to pay...
Posted: Jun 30, 2022
Everest Insurance, the insurance division of Everest Re Group Ltd., on Thursday said Erik Nikodem, president of global property, will retire in mid-July and appointed three executives to take over his responsibilities.
Posted: Jun 30, 2022
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