Business Insurance
Jason Mezyk, former vice president of risk and insurance at Revantage Corporate Services, a Blackstone Inc. unit, has joined RiskRelease, an insurtech focused on coverage of multifamily real estate units, as CEO.
Posted: Jun 16, 2022
CJ TMI Manufacturing America LLC, a Robbinsville, New Jersey-based frozen food manufacturer, faces $368,513 in proposed fines after a contractor using faulty equipment suffered fatal injuries from a fall.
Posted: Jun 16, 2022
A derecho that swept through southern Ontario and parts of Quebec, Canada, in May caused over CAD $875 million ($675.9 million) in insured damage, according to initial estimates by Catastrophe Indices and Quantification Inc.
Posted: Jun 16, 2022
Activision Blizzard Inc.’s board and external advisers said Thursday there was no evidence to suggest that senior executives intentionally ignored or attempted to downplay reported instances of gender harassment.
Posted: Jun 16, 2022
The U.S. Securities and Exchange Commission on Wednesday requested information on the activities of financial information providers amid growing concerns over their influence on investment decisions, despite not being fully regulated.
Posted: Jun 16, 2022
First-quarter commercial auto liability direct premiums written rose 19.1% year over year to $12.37 billion in 2022 and have risen steadily over the past five years, according to a report Thursday from S&P Global Inc.
Posted: Jun 16, 2022
Ascot Group Ltd. said Thursday that Elizabeth Johnson has been promoted to the newly created role of chief operating officer, North America insurance.
Posted: Jun 16, 2022
Aon PLC on Thursday named Howard Byrne head of its Cayman Islands captive and broking operations, replacing Melissa Thomas, who is leaving the firm.
Posted: Jun 16, 2022
Insurer Croatia Osiguranje dd's net profit increased 9% year-on-year to 164 million Croatian kuna ($23 million) in the first four months of the year.
Posted: Jun 16, 2022
A consumer rights campaigner has filed a class action lawsuit against Apple Inc. in the U.K., seeking £768 million ($935 million) in damages for alleged throttling of the performance of iPhones.
Posted: Jun 16, 2022
Gillian Tan, assistant managing director at Monetary Authority of Singapore, said that Singapore is actively looking to capitalize on the expanding insurance-linked securities market in Asia and build financial resilience against new uncertainties.
Posted: Jun 16, 2022
U.S.-based credit ratings agency S&P Global Ratings Inc. has downgraded the outlook for Taiwan’s nonlife insurance sector to “negative” as the country relaxes its zero COVID-19 policy, raising risk of infections that could lead to pandemic-related lo...
Posted: Jun 16, 2022
Businesses in South Korea have suffered around 2.5 trillion South Korean won ($1.9 billion) worth of losses from the cargo truckers’ week-long strike, which finally ended on June 15.
Posted: Jun 16, 2022
A federal appeals court affirmed a lower court ruling in favor of a Beazley PLC unit in litigation filed by a property owner, holding that the policyholder’s request for additional insurance proceeds was too late.
Posted: Jun 15, 2022
A Louisiana state appeals court overturned a lower court Wednesday in a divided opinion and held that a New Orleans restaurant is entitled to COVID-19-related business interruption coverage because of ambiguous policy language.
Posted: Jun 15, 2022
Beazley PLC said Wednesday it has introduced CryptoGuard, a directors and officers liability insurance policy tailored specifically for crypto companies.
Posted: Jun 15, 2022
Axa SA, France-based parent company of Axa XL, said Wednesday it will develop a digital commercial platform featuring risk management and climate functionality.
Posted: Jun 15, 2022
In a rare policyholder win, a New York state appeals court on Tuesday upheld a lower court decision and held that the New York Botanical Garden is entitled to COVID-19-related business interruption coverage from an Allied World Assurance Co. Holdings...
Posted: Jun 15, 2022
An attempt by a Florida business owner accused of health care fraud to flee to Cuba is dead in the water after U.S. agents caught him on a Jet Ski south of Key West.
Posted: Jun 15, 2022
Willis Towers Watson PLC said Wednesday it has hired James Martuscelli, formerly with Sompo International Holdings Ltd., as head of the real estate and hospitality industry practice for corporate risk and broking, North America.
Posted: Jun 15, 2022
French reinsurer Scor SE has named Stuart McMurdo as new chief executive of its property and casualty reinsurance division, succeeding Michel Blanc, who is set to retire in January 2023.
Posted: Jun 15, 2022
South Korean carmaker Hyundai Motor Co.’s domestic operations in South Korea posted an operating loss of more than 356 billion South Korean won ($278.5 million) in the first quarter of the year, due to surging raw material costs and high wages.
Posted: Jun 15, 2022
India-based general insurer Go Digit General Insurance Ltd., which is backed by Canadian insurer Fairfax Financial Holdings Ltd., is seeking a reinsurance business license in India.
Posted: Jun 15, 2022
Elon Musk on Wednesday appealed a judge’s refusal to end his 2018 agreement with the U.S. Securities and Exchange Commission requiring a Tesla Inc. lawyer to vet some of his posts on Twitter.
Posted: Jun 15, 2022
A report by insurance broker Marsh Ltd. said that cyber insurance rates continue to increase in the U.K. while the insurers add more exclusions, limit coverage and impose stricter underwriting requirements.
Posted: Jun 15, 2022