Business Insurance
A Louisiana state appeals court overturned a lower court Wednesday in a divided opinion and held that a New Orleans restaurant is entitled to COVID-19-related business interruption coverage because of ambiguous policy language.
Posted: Jun 15, 2022
Beazley PLC said Wednesday it has introduced CryptoGuard, a directors and officers liability insurance policy tailored specifically for crypto companies.
Posted: Jun 15, 2022
Axa SA, France-based parent company of Axa XL, said Wednesday it will develop a digital commercial platform featuring risk management and climate functionality.
Posted: Jun 15, 2022
In a rare policyholder win, a New York state appeals court on Tuesday upheld a lower court decision and held that the New York Botanical Garden is entitled to COVID-19-related business interruption coverage from an Allied World Assurance Co. Holdings...
Posted: Jun 15, 2022
An attempt by a Florida business owner accused of health care fraud to flee to Cuba is dead in the water after U.S. agents caught him on a Jet Ski south of Key West.
Posted: Jun 15, 2022
Willis Towers Watson PLC said Wednesday it has hired James Martuscelli, formerly with Sompo International Holdings Ltd., as head of the real estate and hospitality industry practice for corporate risk and broking, North America.
Posted: Jun 15, 2022
French reinsurer Scor SE has named Stuart McMurdo as new chief executive of its property and casualty reinsurance division, succeeding Michel Blanc, who is set to retire in January 2023.
Posted: Jun 15, 2022
South Korean carmaker Hyundai Motor Co.’s domestic operations in South Korea posted an operating loss of more than 356 billion South Korean won ($278.5 million) in the first quarter of the year, due to surging raw material costs and high wages.
Posted: Jun 15, 2022
India-based general insurer Go Digit General Insurance Ltd., which is backed by Canadian insurer Fairfax Financial Holdings Ltd., is seeking a reinsurance business license in India.
Posted: Jun 15, 2022
Elon Musk on Wednesday appealed a judge’s refusal to end his 2018 agreement with the U.S. Securities and Exchange Commission requiring a Tesla Inc. lawyer to vet some of his posts on Twitter.
Posted: Jun 15, 2022
A report by insurance broker Marsh Ltd. said that cyber insurance rates continue to increase in the U.K. while the insurers add more exclusions, limit coverage and impose stricter underwriting requirements.
Posted: Jun 15, 2022
U.S. chipmaker Qualcomm on Wednesday won its fight against a 997 million euro ($1.05 billion) fine imposed by EU antitrust regulators four years ago, dealing a major setback to EU antitrust chief Margrethe Vestager’s crackdown on Big Tech.
Posted: Jun 15, 2022
A California lawmaker has dropped a proposal to require employers to make liability determinations within 60 days for most claims and is instead proposing to shorten only the amount of time to accept or deny a first responder’s claim for a presumptiv...
Posted: Jun 15, 2022
The Federal Trade Commission has begun an investigation into SoftBank-backed mental health startup Cerebral Inc., the Wall Street Journal reported Tuesday, citing a letter the antitrust body sent to the company.
Posted: Jun 15, 2022
A surge of employees heading back to the office following pandemic shutdowns, combined with a spike in shootings and other violence affecting workers, is causing companies to revamp emergency plans or initiate anti-violence training, according to exp...
Posted: Jun 15, 2022
J.J. Perez, leader of corporate solutions at Nationwide, discusses the changing insured and uninsured risks that small and mid-sized businesses face and how they can effectively manage those exposures.
Posted: Jun 14, 2022
Canadian businesses operating in critical infrastructure sectors would be required to report cyberattacks to the federal government and would have to fortify their cyber systems under a new law introduced on Tuesday.
Posted: Jun 14, 2022
U.S. financial industry groups are pushing to water down a draft Securities and Exchange Commission rule aimed at reining-in special purpose acquisition companies, or SPACs, arguing it could kill the industry.
Posted: Jun 14, 2022
A heating, ventilation and air conditioning company whose owner allegedly sexually harassed female employees has agreed to pay $361,000 to settle a U.S. Equal Employment Opportunity Commission lawsuit.
Posted: Jun 14, 2022
Axa XL, the property/casualty insurance business of France’s Axa SA, said Tuesday it has named former Axis Capital Holdings Inc. executive Melissa Sowa as senior vice president, underwriting manager for miscellaneous professional liability.
Posted: Jun 14, 2022
A federal appeals court Tuesday affirmed a lower court ruling against a risk retention group that waited more than two years to seek a ruling disclaiming coverage in a construction worker’s death.
Posted: Jun 14, 2022
U.S. Securities and Exchange Commission Chair Gary Gensler said Tuesday that investors should beware of promised returns from crypto lending platforms and products that seem “too good to be true.”
Posted: Jun 14, 2022
Rising inflation, if unabated, will push up loss costs and ultimately have to be passed on through premium increases, Arthur J. Gallagher & Co said in a report released Tuesday.
Posted: Jun 14, 2022
U.S.-based insurer Berkshire Hathaway Specialty Insurance has launched directors and officers insurance policy for companies and their management in France.
Posted: Jun 14, 2022
Saudi Arabia-based Islamic Corporation for the Insurance and Investment of Export Credit’s board of governors have approved a capital increase of 600 million Islamic dinar ($805 million).
Posted: Jun 14, 2022