Business Insurance
Singapore-based reinsurer Asia Capital Reinsurance Group Pte. Ltd. has appointed Wei-Lyn Loh as its new chief executive.
Posted: Jun 14, 2022
Data from the Croatian Insurance Bureau showed that local insurers’ aggregate gross written premium increased by more than 6% year-on-year to 5.7 billion Croatian kuna ($792 million) in the first five months of the year.
Posted: Jun 14, 2022
Fleet lessor Orix Australia Corp. Ltd.’s former CEO John Carter has sued insurer Chubb Ltd. in Australia to recoup $3.2 million Australian ($2.3 million) in legal costs spent defending a corruption case that was dropped in 2019.
Posted: Jun 14, 2022
A report by insurance broker Crombie Lockwood (NZ) Ltd. said that New Zealand insurers are increasingly reviewing their exposures to individual risks, as inflation drives up property claims costs, especially in high seismic areas like Wellington.
Posted: Jun 14, 2022
Shanghai has once again imposed mass quarantine measure this past weekend amid a surge in COVID-19 cases, leading to the closure of highways that obstructed the movement of trucks carrying cargo to Shanghai’s port for export.
Posted: Jun 14, 2022
The cyber liability reinsurance market remains restricted, but more capacity is expected to enter the sector, albeit slowly and cautiously, from both traditional reinsurers and third-party capital sources.
Posted: Jun 14, 2022
Dozens of companies and business organizations sent a letter to U.S. Congress members on Monday, urging them to support a bill that would rein in the biggest tech companies such as Amazon.com and Alphabet’s Google.
Posted: Jun 13, 2022
Binance U.S. and its CEO were sued on Monday by a U.S. investor who alleges the cryptocurrency exchange falsely marketed Terra USD as a safe asset ahead of the so-called stablecoin’s collapse in value last month.
Posted: Jun 13, 2022
A federal appeals court on Friday reinstated a race discrimination charge filed by a fired university employee, questioning why a lower court dismissed it without addressing the issue in its ruling.
Posted: Jun 13, 2022
Google LLC has agreed to pay $118 million to settle a class-action gender discrimination lawsuit.
Posted: Jun 13, 2022
The U.S. Supreme Court on Monday rejected bids by Insys Therapeutics Inc. founder John Kapoor and another former executive of the drugmaker to overturn their convictions of conspiring to bribe doctors to prescribe addictive opioids and defraud insure...
Posted: Jun 13, 2022
Cannabis products with high levels of the psychedelic element found in marijuana – tetrahydrocannabinol, or THC — may be associated with improvements in chronic pain, according to a study published this month on the Annals of Internal Medicine.
Posted: Jun 13, 2022
U.S. medical professional liability results improved significantly last year, reversing a four-year trend of weakening performance, but still generated a 108% combined ratio, says Fitch Ratings Inc. in a report issued Monday.
Posted: Jun 13, 2022
The U.K.’s Competition and Markets Authority is looking to launch an investigation into the market dominance of Apple Inc. and Google LLC’s mobile browsers and their respective app store practices.
Posted: Jun 13, 2022
Marine insurers are struggling to interpret the latest set of European sanctions on Russia that imposes an insurance and reinsurance ban on ships carrying Russian oil.
Posted: Jun 13, 2022
South Korea’s Ministry of Trade, Industry and Energy has estimated that the ongoing truckers’ strike in the country has caused 1.6 trillion South Korean won ($1.24 billion) in businesses losses.
Posted: Jun 13, 2022
A report by the Swiss Re Institute said that European property and casualty insurers are facing more severe claims, especially in the property and motor insurance lines, as inflation hits new records.
Posted: Jun 13, 2022
Britain’s biggest pubs group, Stonegate, which is suing three insurers for £1 billion ($1.2 billion) over lockdown losses, battled the COVID-19 pandemic “day by day, venue by venue,” a London court heard Monday.
Posted: Jun 13, 2022
The U.S. Occupational Safety and Health Administration on Friday announced citations to two companies over amputation risks and other violations that posed serious injuries to workers.
Posted: Jun 13, 2022
The U.S. Securities and Exchange Commission on Monday said it charged three Charles Schwab Corp. investment adviser subsidiaries with failing to disclose less profitable fund allocations and misleading its robo-adviser clients.
Posted: Jun 13, 2022
Business leaders have shown an increased concern over the risks posed by economic uncertainty, inflation and geopolitical upheaval, according to a report Monday from Beazley PLC.
Posted: Jun 13, 2022
The U.S. Securities and Exchange Commission is looking into Goldman Sachs Group Inc.’s asset management division over its funds that look to invest based on environmental, social and governance standards, the Wall Street Journal reported.
Posted: Jun 13, 2022
Hub International Ltd. on Monday introduced a digital platform for personal lines coverage such as home and auto insurance.
Posted: Jun 13, 2022
A Connecticut state judge on Thursday dismissed COVID-19-related business interruption coverage litigation filed by a Native American tribal gaming authority against Factory Mutual Insurance Co.
Posted: Jun 10, 2022
Lawyers are investigating Meta Platforms Inc.’s outgoing operations chief Sheryl Sandberg’s use of company resources over several years, the Wall Street Journal reported on Friday, citing people familiar with the matter.
Posted: Jun 10, 2022