Business Insurance
Shares of Ericsson fell 2.5% on Friday as the chance of it suffering a higher fine increased with the U.S. Securities and Exchange Commission starting a separate investigation into the company’s handling of misconduct in Iraq.
Posted: Jun 10, 2022
CAC Specialty said Friday it has launched a senior living practice and added two former Alliance Insurance Group executives with industry expertise.
Posted: Jun 10, 2022
The world’s biggest insurers and reinsurers have set their sight on the African continent, which still has very low insurance penetration; however, climate change could hinder their quest for profits.
Posted: Jun 10, 2022
Data from Hong Kong’s Insurance Authority showed that local insurers’ aggregate gross premiums written inched up 0.5% year-on-year to more than $158 billion Hong Kong ($20 billion) in the first quarter of the year.
Posted: Jun 10, 2022
French reinsurer Scor SE expects reinsurers to absorb the majority of the estimated $2 billion in claims arising from last year’s grounding of the Ever Given vessel in the Suez Canal.
Posted: Jun 10, 2022
Swiss catastrophe data provider Perils AG has increased its insured and reinsured loss estimates for the floods that struck Australia’s New South Wales and Queensland earlier this year by 23% to almost $4.9 billion Australian ($3.5 billion).
Posted: Jun 10, 2022
There was big news out of Axis Capital Holdings this week as it announced it will stop writing property reinsurance and that Axis Re CEO Steve Arora will leave the company at the end of the year. Also of note: Liberty Mutual detailed its CEO successi...
Posted: Jun 10, 2022
Michigan lawmakers will be considering a bill that would expire the legal immunity given to employers who follow workplace safety regulations and whose employees contract COVID-19.
Posted: Jun 10, 2022
The U.S. Supreme Court could announce as soon as Monday whether it will hear Bayer’s bid to dismiss claims its Roundup weedkiller causes cancer as the company seeks to avoid potentially billions of dollars more in damages and payouts.
Posted: Jun 10, 2022
State-controlled Russian National Reinsurance Co. is now the main reinsurer of Russian ships, including Sovcomflot’s fleet, after Western insurance companies withdrew cover for Russian shipowners, three people familiar with the matter told Reuters.
Posted: Jun 10, 2022
London-based insurance and reinsurance broker Howden Group Holdings Ltd. said Thursday it has acquired U.S. reinsurance brokerage TigerRisk Partners LLC.
Posted: Jun 09, 2022
The National Highway Traffic Safety Administration on Thursday said it was upgrading its probe into 830,000 Tesla vehicles with its advanced driver assistance system Autopilot, a required step before it could seek a recall.
Posted: Jun 09, 2022
A federal appeals court affirmed a ruling in favor of a Travelers Cos. Inc. unit that denied a property owner’s claim involving a pool’s roof, stating the damage was known before the policy period.
Posted: Jun 09, 2022
Marsh LLC said Thursday it has named Andrew Fiscella and John Umbach as SPAC co-leaders within Marsh Specialty’s U.S. financial and professional liability practice.
Posted: Jun 09, 2022
Commercial insurance rates increased in all major lines except workers compensation in May, but the sizes of the increases were mixed, Tampa, Florida-based Ivans Insurance Services reported Thursday.
Posted: Jun 09, 2022
Signet Jewelers Ltd. on Thursday announced a $175 million settlement of long-running gender bias litigation, resolving claims on behalf of 68,000 female Sterling Jewelers employees that the retailer paid women less and promoted them less often than m...
Posted: Jun 09, 2022
Aon PLC has agreed to sell its e-discovery practice to legal and cyber services provider Technology Concepts & Design Inc.
Posted: Jun 09, 2022
An agriculture supplies manufacturer in New York is facing $203,039 in penalties following investigation of a November 2021 incident that nearly killed a worker in a grain silo, the Occupational Safety and Health Administration announced Wednesday.
Posted: Jun 09, 2022
David H. Long will retire as CEO of Liberty Mutual Insurance Co. at the end of 2022 and will be succeeded by longtime Liberty Mutual executive Timothy M. Sweeney, the insurer announced Thursday.
Posted: Jun 09, 2022
U.S. commercial insurance prices increased by 6% overall in the first quarter, around one point lower than the aggregate increase in the fourth quarter of 2021, according to Willis Towers Watson PLC’s latest pricing survey.
Posted: Jun 09, 2022
Chilean state-owned copper mining company Codelco suspended operations at its Ventanas smelter and refinery in Chile on June 6 after an environmental emergency was declared following signs of poisoning from sulfur dioxide emissions in people from nea...
Posted: Jun 09, 2022
Mauritius-based insurer, The Mauritius Union Assurance Cy. Ltd. (MUA), intends to grow its operations in several East African countries and hold 10% share of the East African insurance markets in the upcoming years.
Posted: Jun 09, 2022
U.K.-based claims and insurance management firm Charles Taylor Adjusting has acquired Peru-based loss adjuster Herrera DKP S. Civil de RL.
Posted: Jun 09, 2022
The Korea Cargo Workers Union has expanded its strike to the automobile sector by refusing to handle the delivery of auto parts from June 8 in addition to steel and cement, dealing a blow to the already troubled automobile sector.
Posted: Jun 09, 2022
A massive wildfire in the popular Spanish province of Malaga has prompted the local authorities to declare a Level 2 forest fire emergency, as the wildfire rages across the hills burning down properties along its way.
Posted: Jun 09, 2022