Business Insurance
A U.S. appeals court on Thursday threw out a more than $2.75 billion award against Cisco Systems Inc., saying the trial judge should have disqualified himself after learning that his wife owned Cisco stock.
Posted: Jun 23, 2022
A former electrician who was claiming benefits for a 2013 injury evidently forgot the internet era’s first rule of disability fraud – don’t let anyone post anything about you on social media ever.
Posted: Jun 23, 2022
Insurance sector deal activity has slowed by almost a third in the front half of 2022 but is expected to turn back up, according to a report Thursday from PricewaterhouseCoopers LLP.
Posted: Jun 23, 2022
The California Assembly Insurance Committee passed a bill that would shave 15 days off the time that employers have to accept liability on first responders’ claims for conditions that are presumed to arise out of employment.
Posted: Jun 23, 2022
Specialty Lloyd's of London reinsurance broker MNK Re Ltd. has named Steven Oluoch as chief executive of its new subsidiary located in Nairobi, Kenya.
Posted: Jun 23, 2022
Lebanese reinsurance broker Chedid Re has signed a five-year partnership with U.K.-based catastrophe modeling firm JBA Risk Management Ltd. to offer flood risk insights to its customers.
Posted: Jun 23, 2022
Ongoing semiconductor shortage has forced Netherlands-based carmaker Stellantis NV to suspend production at several factories, with the company announcing it latest production cut at Rennes-La Janais Citroen plant in Brittany, France.
Posted: Jun 23, 2022
Data from Latvia’s Finance and Capital Market Commission showed that local insurers’ aggregate net profit plunged almost 73% year-on-year to €2.8 million ($3 million) in the first quarter of the year.
Posted: Jun 23, 2022
Torrential rainfall in southern and eastern provinces of China, including Guangdong and Jiangxi, has triggered landslides and record-high floods, causing an estimated 470 million Chinese yuan ($70.2 million) in economic damage.
Posted: Jun 23, 2022
Swiss miner Glencore PLC’s British subsidiary Glencore Energy UK Ltd. recently pleaded guilty in a U.K. court to bribery in five African countries to illicitly secure access to crude oil.
Posted: Jun 23, 2022
U.S. prosecutors on Wednesday added a new wire fraud charge to their criminal case accusing Trevor Milton, the founder and former chief executive of Nikola Corp., of defrauding investors by lying about the electric- and hydrogen-powered truck maker.
Posted: Jun 23, 2022
Everest Reinsurance, Everest Re Group Ltd.’s reinsurance division, said Wednesday that Brent Hoffman, formerly Axa XL’s chief claims officer, will join the company as senior vice president, head of claims and chief operations officer at the end of Ju...
Posted: Jun 22, 2022
A New Jersey appeals court that ruled against policyholders on six COVID-19-related business interruption cases on Tuesday followed up with another such ruling against a country club on Wednesday.
Posted: Jun 22, 2022
Willis Towers Watson PLC said Wednesday it has named Elizabeth Carabas and Jennifer Wheeler as global client advocates.
Posted: Jun 22, 2022
Business associations for top U.S.-listed companies have pushed back against a landmark proposal by the Securities and Exchange Commission to make corporate America disclose a range of greenhouse gas emission figures.
Posted: Jun 22, 2022
A Liberty Mutual Insurance Co. unit does not have to pay a judgment against a now-bankrupt clothing retailer based on a prior acts exclusion in its coverage, a federal appeals court said Wednesday, affirming a lower court ruling.
Posted: Jun 22, 2022
A discrimination case brought by three Black coaches accusing the National Football League of racist hiring should be resolved in a closed arbitration proceeding rather than in open court, the league said in court papers late Tuesday.
Posted: Jun 22, 2022
Russian government hackers recently carried out multiple cyber espionage operations targeting countries allied with Ukraine since its February invasion, Microsoft said in a report on Wednesday, illustrating the scale of Moscow’s ongoing hacking activ...
Posted: Jun 22, 2022
Acrisure LLC said Wednesday it has acquired Russell Scanlan Ltd., a commercial insurance brokerage and risk manager based in Nottingham, England.
Posted: Jun 22, 2022
Aura Underwriting, a subsidiary of U.K.-based specialty managing general agency Rokstone Group Ltd., has launched a pan-Caribbean parametric product which offers reinsurance protection against damage from hurricanes in the region.
Posted: Jun 22, 2022
Aggregate gross direct premiums of 33 nonlife insurers in India increased nearly 23% year-on-year to 336.8 billion Indian rupees ($4.7 billion) in April and May.
Posted: Jun 22, 2022
Fitch Ratings Inc. said that Turkish insurers are facing one of the most challenging operating environments in a decade that could adversely affect their capital adequacy and earnings.
Posted: Jun 22, 2022
A group of customers has filed a class-action lawsuit against car making partners Renault SA and Nissan Motor Co. Ltd. in France for faulty 1.2 liter gasoline engines that were fitted in 400,000 European vehicles between 2012 and 2016.
Posted: Jun 22, 2022
State-owned reinsurer General Insurance Corporation of India has agreed to participate in the new 5 billion Indian rupees ($64 million) fertilizer insurance pool created by a group of Indian insurers to insure fertilizer and oil and gas imports from...
Posted: Jun 22, 2022
Germany faces an inevitable recession if Russian gas supplies come to a complete halt.
Posted: Jun 22, 2022