Business Insurance
Commercial insurance premiums increased by 8.9% in the second quarter of 2023, up slightly from an 8.8% hike in the first quarter, according to the Council of Insurance Agents & Brokers’ latest pricing survey released late Wednesday.
Posted: Aug 16, 2023
Specialty insurer The Fortegra Group Inc. on Wednesday said that former Liberty Mutual Insurance Co. executive Edward Peña has been named chief financial officer, effective Aug. 28, 2023.
Posted: Aug 16, 2023
A corrections officer isn’t entitled to an increase in workers compensation benefits received for injuries suffered in a 2002 preplanned prison attack, the California Court of Appeals ruled Monday.
Posted: Aug 16, 2023
Among the most popular casualties in an Iowa school district's move to ban books were “The Handmaid’s Tale” by Margaret Atwood, “Beloved” by Nobel Prize winner Toni Morrison (pictured) and “The Kite Runner” by Khaled Hosseini.
Posted: Aug 16, 2023
The U.S. Department of Labor said Tuesday that it reached a settlement with a former New York contractor cited after a worker died in a trench collapse in Brooklyn in September 2018.
Posted: Aug 16, 2023
RSC Insurance Brokerage Inc., which does business as Risk Strategies Co., said Wednesday it has acquired Bisnett Insurance, an Oregon-based brokerage.
Posted: Aug 16, 2023
The Financial Crimes Enforcement Network on Tuesday issued a notice to financial institutions to help federal law enforcement identify construction firms engaged in payroll tax evasion and workers compensation insurance fraud, crimes the U.S. Departm...
Posted: Aug 16, 2023
Oran Vongsurapichet, chief executive of Thai Reinsurance Public Co. Ltd., said that the reinsurer’s net profit grew by 425% year-on-year to 65 million Thai baht ($1.84 million) in the second quarter of this year, Asia Insurance Review reported citing...
Posted: Aug 16, 2023
A major dollar shortage in Pakistan has forced local and foreign businesses operating in the country to halt production for weeks, as the problem bars them from importing raw materials, BNN Bloomberg reported citing Bloomberg. The assembler of Suzuki...
Posted: Aug 16, 2023
Data from actuarial consulting firm Badri Management Consultancy showed that the aggregate gross written premiums of 26 listed insurers in Saudi Arabia increased by 29% year-on-year to 34 billion Saudi Arabian riyals ($9.05 billion) in the first half...
Posted: Aug 16, 2023
Typhoon Lan made a landfall at the southern tip of Japan’s Wakayama prefecture on Aug. 15, triggering evacuations of thousands of people and prompting airlines to cancel nearly 900 flights, Reuters reported. The slow-moving typhoon brought heavy rain...
Posted: Aug 16, 2023
Qatar Insurance Company S.A.Q.’s net profit increased 180% year-on-year to 325 million Qatari riyals ($89.26 million) in the first half of this year, Reinsurance News reported. The insurer’s gross written premiums declined by 12.7% year-on-year to QA...
Posted: Aug 16, 2023
AMC Entertainment Inc. was hit with a class-action lawsuit on behalf of preferred shareholders challenging its stock conversion plan, just days after the cinema operator ended a bruising legal fight with a different group of investors.
Posted: Aug 16, 2023
The controversial trend of tacking on automatic tips, or “service charges,” to customer bills will likely have a trickle-down effect on workers compensation premiums, which are likely to increase for some employers, according to experts.
Posted: Aug 16, 2023
Rod Harvey, director of industrial hygiene and field services at RHP Risk Management, discusses how heat waves elevate property and liability risks and what risk management steps can be taken to mitigate the exposure.
Posted: Aug 15, 2023
Karen Clark & Co. on Tuesday estimated the insured property losses from wildfires that hit Maui and the Big Island of Hawaii Aug. 8-10 will be around $3.2 billion.
Posted: Aug 15, 2023
Orrick, Herrington & Sutcliffe LLP is being sued in a putative class-action lawsuit in federal district court in which it is charged with inadequate cybersecurity and not informing 152,818 clients of a cyber breach that revealed their personally iden...
Posted: Aug 15, 2023
A federal appeals court Monday partially overturned a lower court ruling and reinstated a lawsuit filed by a consumer who charged a credit reporting agency with violating the Fair Credit Reporting Act by not correcting an error.
Posted: Aug 15, 2023
An Australian personal lines insurer is betting on the marketing ploy that if you make ’em laugh with relatable scenarios, they’ll buy your product.
Posted: Aug 15, 2023
Fort Worth, Texas-based brokerage Higginbotham said Tuesday it has bought Iscential Inc. of Houston.
Posted: Aug 15, 2023
The New York State Insurance Fund has returned $585 million in workers compensation premiums to businesses across the state, New York Gov. Kathy Hochul announced Monday.
Posted: Aug 15, 2023
U.A.E.-based insurer Orient Insurance PJSC made a net profit of 377 million United Arab Emirates dirhams ($103 million) in the first half of the year, up 19% year-on-year, Middle East Insurance Review reported. The insurer’s insurance income rose 26%...
Posted: Aug 15, 2023
German insurer Talanx AG’s group net income grew by 21% year-on-year to €827 million ($905 million) in the first half of 2023, marking the best six-month results in the insurer’s history, Reinsurance News reported. Insurance revenue climbed 9% to €20...
Posted: Aug 15, 2023
Japanese insurer Tokio Marine Holdings Inc. is planning to sell its operations in Southeast Asia for $1 billion to major South Korean insurers and financial holding companies, The Korea Economic Daily reported. The insurer plans to send information m...
Posted: Aug 15, 2023
Lockton Cos. LLC said Tuesday it has hired former Guy Carpenter & Co. LLC executive Greg Spore as U.S. financial services markets leader.
Posted: Aug 15, 2023