Business Insurance
South Korea's Fair Trade Commission has fined 15 Korean and foreign shippers 80 billion South Korean won ($63.6 million) in total for their involvement in a 17-year-long freight rate fixing scheme for South Korea-Japan routes.
Posted: Jun 09, 2022
The California Workers’ Compensation Institute on Wednesday said new data shows the types of drugs used to treat injured workers have shifted dramatically over the last 10 years, with opioids becoming less prevalent and anti-inflammatory drugs accoun...
Posted: Jun 09, 2022
A federal appeals court is asking the Massachusetts Supreme Court to consider whether insurers must cover costs incurred to prevent an imminent covered loss, even if the costs themselves are not covered by the policy.
Posted: Jun 08, 2022
Tesla Inc. cannot pause a California civil rights agency's lawsuit alleging widespread race discrimination at an assembly plant as it separately challenges the agency's ability to sue employers, a judge ruled on Wednesday.
Posted: Jun 08, 2022
A former Better.com executive is suing the company and its CEO, Vishal Garg, alleging they provided misleading statements to investors about the digital mortgage company’s financial prospects and performance.
Posted: Jun 08, 2022
The U.S. Occupational Safety and Health Administration has cited two Dollar General stores in Ohio and Wisconsin for endangering the safety of their employees after inspectors found that emergency exits were not accessible.
Posted: Jun 08, 2022
Insurers need to plug data gaps to be better prepared for the impact of climate change on their operations, and further work may be needed on how much capital they should hold, the Bank of England said Wednesday.
Posted: Jun 08, 2022
Japan is weighing what steps it can take after the European Union's banned insuring and financing seaborne transport of Russian oil to third countries as it will make it difficult for Japan to maintain imports of Russian crude oil.
Posted: Jun 08, 2022
Torrential rain and floods since May 28 have wreaked havoc in 80 counties of China's Jiangxi province, damaging 76,300 hectares of cropland and causing direct economic losses of 1.16 billion Chinese yuan ($174 million).
Posted: Jun 08, 2022
The U.S. has asked Mexico to probe alleged worker rights violations at Teksid Hierro de Mexico auto-parts plant owned by Netherlands-based carmaker Stellantis N.V.
Posted: Jun 08, 2022
German insurer Ergo Group AG's Thai subsidiary ThaiSri Insurance Public Co. Ltd. has appointed Till Bohmer as its chief executive.
Posted: Jun 08, 2022
Almost 200 flights into the U.K. airports were cancelled last weekend, with aviation bosses blaming ongoing staff shortages and bad weather for the disruption.
Posted: Jun 08, 2022
Although demand for political violence and terrorism cover in South Africa is increasing, the risk for reinsurers operating in this space is also increasing.
Posted: Jun 08, 2022
Dmitry Medvedev, deputy chairman of Russia's Security Council, said that Russia can bypass the European Union ban on insuring and financing seaborne deliveries of Russian oil to third countries by using state guarantees within the framework of inters...
Posted: Jun 08, 2022
Aaron Aanenson, senior director and cyber insurance thought leader at cyber security rating firm BitSight, discusses changes in cyber market and what underwriters examine when they consider a cyber risk.
Posted: Jun 07, 2022
The U.S. Supreme Court on Monday refused to consider a COVID-19-related business interruption case.
Posted: Jun 07, 2022
A bipartisan pair of U.S. senators unveiled a bill on Tuesday that would establish new rules for cryptocurrency, and hand the bulk of their oversight to the Commodity Futures Trading Commission.
Posted: Jun 07, 2022
Hub International Ltd. said Tuesday it has acquired the assets of Physicians Risk Associates Insurance Agency.
Posted: Jun 07, 2022
The family of the author whose article inspired the 1986 Tom Cruise movie “Top Gun” on Monday sued Paramount Pictures for copyright infringement over this year’s blockbuster sequel “Top Gun: Maverick,” according to Reuters.
Posted: Jun 07, 2022
The U.S. Securities and Exchange Commission is investigating whether crypto exchange Binance Holdings Ltd.'s initial coin offering in 2017 broke the agency's rules, Bloomberg reported, citing people familiar with the matter.
Posted: Jun 07, 2022
Tesla Inc. filed a complaint on Tuesday accusing a California civil rights agency that is suing the electric car maker for race discrimination of rushing to file lawsuits against businesses without conducting proper investigations.
Posted: Jun 07, 2022
South Korea’s unionized cargo truckers staged a nationwide, indefinite strike starting June 6, causing logistics disruptions.
Posted: Jun 07, 2022
Dutch automobile firm Stellantis NV has halted production at its Melfi plant in Italy due to a shortage of semiconductors.
Posted: Jun 07, 2022
A report by U.A.E.-based market research firm Insurance Monitor said that the aggregate gross written premium of 81 insurers listed in the Gulf Cooperation Council nations increased by 18% year-on-year to $9.2 billion in the first quarter.
Posted: Jun 07, 2022
A survey by Japan-based credit research firm Teikoku Databank Ltd. found that more than 50% of Japanese companies are struggling to source raw materials and other commodities due to supply chain disruptions resulting from the Russia-Ukraine war.
Posted: Jun 07, 2022