Business Insurance
A new report by the National Council on Compensation Insurance found that three state trends could impact the industry moving forward: independent contractors/gig economy, single-payer health insurance and the legalization of marijuana.
Posted: Jun 22, 2022
A federal appeals court has reinstated an age discrimination lawsuit filed by a worker who was the alleged victim of a “relentless and ruthless” age-based harassment campaign, in a divided opinion.
Posted: Jun 21, 2022
AmTrust Financial Services Inc. on Tuesday said Jeff Duncan has joined the company from Liberty Mutual Insurance Co. as executive vice president, commercial lines.
Posted: Jun 21, 2022
A New Jersey state appeals court, ruling on six COVID-19-related business interruption cases, held Monday that policies issued by several insurers did not cover business losses incurred by policyholders that were forced to close or limit their operat...
Posted: Jun 21, 2022
CAC Specialty said Tuesday it hired Gabe Levitt, formerly of Marsh LLC, as executive vice president with its private equity team.
Posted: Jun 21, 2022
Insurers and the federal government’s terrorism risk insurance may not be able to cover cyberattacks that target critical infrastructure, with cyber insurers having taken steps to limit their losses in such cases, says the U.S. Government Accountabil...
Posted: Jun 21, 2022
A Black former elevator operator at Tesla Inc.'s flagship California assembly plant on Tuesday rejected a $15 million award in his lawsuit alleging racial abuse by co-workers, opening the door for a new trial after a judge slashed a $137 million jury...
Posted: Jun 21, 2022
Safety National Casualty Corp. said Tuesday that former president Duane Hercules has become CEO, succeeding former chairman and CEO Mark Wilhelm, who has been named executive chairman of the company.
Posted: Jun 21, 2022
Long COVID, with its varying and unpredictable symptoms and no known cure, leaves health care providers vulnerable to liability risks stemming from misdiagnoses, medical malpractice insurer The Doctors Co. said in a report released Tuesday.
Posted: Jun 21, 2022
Roddy Barnett, head of political and trade credit risks at Beazley, discusses the insurer's recent report on risk and resilience and how companies can better manage their political risk exposures.
Posted: Jun 21, 2022
Marsh & McLennan Cos. Inc. said Tuesday it has promoted two executives to newly created senior leadership roles, effective July 1.
Posted: Jun 21, 2022
Former Tesla Inc. employees have filed a lawsuit against the U.S. electric car company alleging its decision to carry out a “mass layoff” violated federal law as the company did not provide advance notice of the job cuts.
Posted: Jun 21, 2022
The U.S. Supreme Court on Tuesday rejected a challenge brought by a former Xerox Corp. executive and backed by Elon Musk to a Securities and Exchange Commission rule requiring people who agree to settlements with the agency not to deny its allegation...
Posted: Jun 21, 2022
Data from the Slovak Insurance Association said that aggregate gross written premium of its member insurers in Slovakia increased by more than 4% year-on-year to €679.5 million ($713 million) in the first quarter of the year.
Posted: Jun 21, 2022
U.K.-based marine insurer The Standard Club Ltd. said that its combined ratio improved to 105% in the year ended Feb. 20, 2022, compared to 121% seen in the previous financial year.
Posted: Jun 21, 2022
U.S.-based Moody’s Investors Service Inc. is looking to downgrade the A3 insurance financial strength rating of Hong Kong-based Peak Reinsurance Co. Ltd. from “stable,” due to concerns of contagion risks from the weakening credit profile of its major...
Posted: Jun 21, 2022
U.K.-based Howden Broking Group Ltd. said that increasing numbers of secondary catastrophes have driven up insurance losses and rates while adversely affecting capacity in the first quarter of the year.
Posted: Jun 21, 2022
Greece has filed a €214 million ($224.6 million) lawsuit against Swiss pharmaceutical firm Novartis AG, accusing the company of engaging in illicit activities to drive up its sales in Greece.
Posted: Jun 21, 2022
Japanese carmaker Toyota Motor Corp. is appealing the Australian Federal Court’s April class-action ruling that could make Toyota liable to pay around $2 billion in damages to more than 260,000 customers in Australia for faults in their Toyota vehicl...
Posted: Jun 21, 2022
The European Union’s top court has sided with Spain, ordering U.K.-based marine insurer The London P&I Club to pay a multi-million dollar claim for the damage caused by a major oil spill from a Greek oil tanker in 2002.
Posted: Jun 21, 2022
Spain on Monday won backing from Europe’s top court in its multimillion euros damage claim against The London Steam-Ship Owners’ Mutual Insurance Association Ltd. for a massive oil spill on its northwestern coast two decades ago.
Posted: Jun 21, 2022
A Louisiana appeals court’s refusal to dismiss policyholder litigation in a COVID-19-related business interruption case is a significant ruling and is expected to be influential, policyholder attorneys say.
Posted: Jun 21, 2022
Taiwan’s Central Weather Bureau said that a 6.0-magnitude earthquake struck Hualien County in Taiwan on June 20, rattling most parts of Taiwan including Taipei, and even mainland China’s Fujian province.
Posted: Jun 20, 2022
Research firm Counterpoint Technology Market Research’s report said that European smartphone market declined 12% in the first quarter of the year after recording the lowest shipments for the period in almost a decade mainly due to component shortages...
Posted: Jun 20, 2022
Data from the Central Bank of Hungary showed that local insurers’ aggregate gross profit plummeted by more than 11% year-on-year to almost 22 billion Hungarian forint ($57.3 million) in the first quarter of the year.
Posted: Jun 20, 2022