Business Insurance
Aberdeen Restaurant Enterprises Ltd., owner of Hong Kong’s iconic Jumbo Floating Restaurant that capsized recently, has said that it will not receive any insurance payout for the capsized vessel as it is covered under a policy that warrants cover for...
Posted: Jun 27, 2022
U.K.-based insurance broker PIB Group Ltd. has agreed to acquire Irish general insurance brokerage Sullivan Insurances (Limerick) Ltd. to further strengthen its foothold in Ireland.
Posted: Jun 27, 2022
Ecuador's Energy Minister Xavier Vera-Grunauer issued a warning on June 26 stating that the country’s oil production has reached a "critical" level and could be halted completely within 48 hours if onging protests and roadblocks continue.
Posted: Jun 27, 2022
The French Federation of Insurance said that the recent spate of thunderstorms, hail and other severe weather events have caused an estimated €1.3 billion ($1.4 billion) in insured and reinsured losses in France.
Posted: Jun 27, 2022
A report by U.S.-based investment bank Goldman Sachs Group Inc. said that Swiss Reinsurance Co. Ltd. has lowered down its insured loss estimates for the Ukraine-Russia war to $10 billion from the previous estimate of $15 billion.
Posted: Jun 27, 2022
The Delaware Supreme Court on Thursday upheld a determination that an injured worker’s prescribed narcotic pain medications were no longer compensable.
Posted: Jun 27, 2022
The Florida Division of Workers’ Compensation on Friday reported a significant drop in COVID-19 claims in March and April.
Posted: Jun 27, 2022
A New York state regulator on Friday fined cruise line operator Carnival Corp. $5 million for “significant” cybersecurity violations, following four security breaches from 2019 to 2021 that exposed substantial amounts of sensitive customer data.
Posted: Jun 24, 2022
CAC Specialty said Friday it has added four former Alliance Insurance Group executives to its newly formed senior living practice.
Posted: Jun 24, 2022
A New Jersey appeals court overturned a lower court and ruled against an Atlantic City casino and in favor of units of Zurich Insurance Group Ltd., American International Group Inc. and Allianz SE in COVID-19-related business interruption coverage Th...
Posted: Jun 24, 2022
Arthur J. Gallagher & Co. said Friday it has acquired Wexford, Ireland-based INNOVU Group Holding Co. Ltd.
Posted: Jun 24, 2022
U.S. crypto firm Harmony said on Friday that thieves stole around $100 million worth of digital coins from one of its key products, the latest in a string of cyber heists on a sector long targeted by hackers.
Posted: Jun 24, 2022
Hoping a photo of the voluptuous “Baywatch” star Carmen Electra in its advertisements would spark the interest of potential customers at the DiCarlo Gentleman’s Club in Colonie, New York, the owners now say the fallout of a lawsuit filed by the actre...
Posted: Jun 24, 2022
Despite the strong push for COVID-19 workers compensation presumptions in the early stages of the pandemic, fewer than half of the 18 states that enacted legislation or saw executive orders still have the provisions in place, according to a report re...
Posted: Jun 24, 2022
Argo Group International Holdings Ltd. on Thursday named Thomas A. Bradley as CEO, replacing Kevin J. Rehnberg, who had been on leave for health reasons since March.
Posted: Jun 24, 2022
The Monetary Authority of Singapore has approved Bermuda-based reinsurer Everest Re Group Ltd.’s insurance division application to operate in Singapore.
Posted: Jun 24, 2022
Walgreens Boots Alliance Inc. agreed to pay $105 million to settle a long-running class-action lawsuit accusing it of misleading shareholders about how rising generic drug prices and reimbursement pressures would hurt its pharmacy business.
Posted: Jun 24, 2022
A report by U.S.-based credit ratings agency S&P Global Ratings Inc. said property and casualty insurers in Australia are expected to post about 6% growth in gross written premiums per year across commercial and personal lines.
Posted: Jun 24, 2022
Russian media and communications regulator Roskomnadzor said that U.S.-based Google LLC may be fined up to 10% of its turnover in Russia for repeated failures to delete banned content.
Posted: Jun 24, 2022
Analysts at A.M. Best Co. Inc. have warned London market insurers and reinsurers against the claims impact of surging costs of lawsuits and court judgments.
Posted: Jun 24, 2022
The Workers Compensation Research Institute reported the use of telemedicine services that increased substantially in the second quarter of 2020 was already decreasing by the third quarter and has stabilized in subsequent quarters.
Posted: Jun 24, 2022
An Italian company’s hacking tools were used to spy on Apple Inc. and Android smartphones in Italy and Kazakhstan, Alphabet Inc.’s Google said in a report Thursday.
Posted: Jun 23, 2022
A bipartisan group of U.S. senators plans to introduce legislation on Thursday that would give the Biden administration the power to block exports of U.S. personal data to countries like China that they say pose national security risks.
Posted: Jun 23, 2022
California’s top state court has agreed to decide whether employers can be held liable under state law when their workers contract COVID-19 on the job and spread it to their relatives.
Posted: Jun 23, 2022
Lockton Re, the reinsurance business of broker Lockton Cos. LLC, said Thursday that Kathy McCann has joined from Guy Carpenter LLC as senior broker.
Posted: Jun 23, 2022