Business Insurance
Ongoing civil unrest in Ecuador against the government’s social and economic policies have caused an estimated $50 million in losses to the country’s production sector, as the protestors damage infrastructure and businesses.
Posted: Jun 20, 2022
The Rail, Maritime and Transport union’s planned strike this week in the U.K. is likely to cause an estimated £1 billion ($1.2 billion) in losses to the tourism, leisure and theatre industries in the country.
Posted: Jun 20, 2022
Lebanese insurance broker Chedid Capital Holding’s subsidiary, Chedid Insurance Brokers Egypt has received a license to operate in Cairo.
Posted: Jun 20, 2022
South Africa’s government has allocated 22 billion South African rand ($1.4 billion) to state-owned insurer South African Special Risk Insurance Association SOC Ltd. to help the insurer maintain its solvency following huge losses from the July 2021 r...
Posted: Jun 20, 2022
Lockton Cos. Inc. has recruited former Marsh & McLennan Cos. Inc. executive Machua Millett as chief innovation officer and alternative investment practice leader in its financial services group.
Posted: Jun 17, 2022
A federal district court in California has refused for the second time to dismiss COVID-19 related litigation filed by a hotel group against a Sompo International Holdings Ltd. claiming coverage under an environmental policy.
Posted: Jun 17, 2022
John Hampton, professor of business at St. Peter’s University in Jersey City, New Jersey, and former executive director of the Risk & Insurance Management Society Inc., died Monday at age 79.
Posted: Jun 17, 2022
State securities regulators in Alabama, Kentucky, New Jersey, Texas and Washington are investigating crypto lender Celsius Network’s decision this week to suspend customer redemptions, Joseph Rotunda, enforcement director at the Texas State Securitie...
Posted: Jun 17, 2022
A teacher who injured her back at work and who had surgery out of state and out of her employer’s network is due compensation for her surgery because the school district had originally denied her claim, the Supreme Court of South Dakota unanimously r...
Posted: Jun 17, 2022
Law enforcement in the United States, Germany, the Netherlands and Britain dismantled a global network of internet-connected devices that had been hacked by Russian cybercriminals and used for malicious purposes, the U.S. Justice Department said Thur...
Posted: Jun 17, 2022
Africa’s largest retail chain Shoprite Holdings Ltd.’s IT systems were recently compromised in a recent ransomware attack by RansomHouse.
Posted: Jun 17, 2022
Data from the Czech Insurance Association showed that local insurers’ aggregate written premium increased almost 9% year-on-year to nearly 41 billion Czech koruna ($1.8 billion) in the first quarter of the year.
Posted: Jun 17, 2022
The Mexican Employers Federation said that a group of armed robbers stole 20 containers loaded with gold, silver ore, and televisions from a Mexican freight yard earlier this month.
Posted: Jun 17, 2022
It’s been another big week for executive changes, led by moves at Chubb. Also of note: A rare win by a policyholder in COVID-19-related business interruption litigation.
Posted: Jun 17, 2022
A Tesla Inc. shareholder sued the electric car maker, CEO Elon Musk and its board, accusing them of neglecting to tackle complaints about workplace discrimination and harassment and engendering a “toxic workplace culture.”
Posted: Jun 17, 2022
Tokio Marine Kiln Group Ltd. said Friday it will sell Tokio Marine Highland’s U.S. construction division to Intact Insurance Group USA LLC.
Posted: Jun 17, 2022
Business Insurance is accepting nominations for the 2022 Women to Watch Awards.
Posted: Jun 17, 2022
The COVID-19 pandemic is not a natural disaster that exempts employers from complying with the Worker Adjustment and Retraining Act, the 1989 law that requires companies to give affected employees 60 days’ notice of a plant closing or mass layoff, a...
Posted: Jun 16, 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 for conspiring to bribe doctors to prescribe addictive opioids and defraud insur...
Posted: Jun 16, 2022
Officials with the Workers’ Compensation Insurance Rating Bureau of California, testifying in support of a recommendation to increase the advisory pure premium rate by 7.6%, said savings from reforms passed nearly a decade ago have run their course.
Posted: Jun 16, 2022
Partner Re said Thursday that Sima Ruparelia, who had held the position of chief actuary for an American International Group Inc. unit, will join the reinsurer, effective June 27, as chief actuarial and risk officer, the company said.
Posted: Jun 16, 2022
Turns out the placement of fences, walls and hedges is causing problems between neighbors, at least across the pond.
Posted: Jun 16, 2022
A federal appeals court on Wednesday affirmed a lower court ruling in favor of a Munich Re unit in litigation over its coverage denial for a marine vessel’s failed engine.
Posted: Jun 16, 2022
London-based insurance broker BMS Group Ltd. said Thursday it has acquired Australian retail brokerage SRG Group Pty Ltd.
Posted: Jun 16, 2022
Tracy Ryan will leave her position as president of global risk solutions, North America, at Liberty Mutual Insurance Co. later this year, a company spokesman said Thursday.
Posted: Jun 16, 2022