Business Insurance
U.S.-based Moody’s Investors Service Inc. has revised its outlook for Dutch property and casualty insurers to “stable” from “negative” as it expects rising premiums to offset claims inflation, and a positive impact from increasing interest rates.
Posted: Jun 07, 2022
The Bangladesh Inland Container Depots Association said that the financial loss from the explosion at Dutch-Bangladesh firm BM Container Depot Ltd.’s inland container depot in Bangladesh might exceed $110 million.
Posted: Jun 07, 2022
Emerging tools such as artificial intelligence and natural language processing are being used in the insurance sector, but costs remain high and there are questions about bias being introduced into machine learning, according to a speaker at the Publ...
Posted: Jun 07, 2022
Concerns over inflation and reduced property catastrophe capacity made June 1 reinsurance renewals difficult and protracted, with many ceding insurers facing double-digit rate increases, sources said.
Posted: Jun 07, 2022
Ransomware’s loss frequency and severity has resulted in the coverage’s cost almost doubling from last year, says a report released Monday.
Posted: Jun 06, 2022
Southwest Airlines Co. cannot force a baggage handler's class action lawsuit over overtime pay into private arbitration, the U.S. Supreme Court ruled on Monday in a decision with costly potential implications for companies including Amazon.com Inc. a...
Posted: Jun 06, 2022
Training and technology are important parts of a successful municipal fleet management program, according to experts who spoke Monday at the Public Risk Management Association’s annual meeting.
Posted: Jun 06, 2022
American International Group Inc. has named Jesse DeCouto chief underwriting officer of reinsurance unit Validus Re.
Posted: Jun 06, 2022
Four U.S. Circuit Courts of Appeal continued insurers’ unbroken winning record in COVID-19-related business interruption cases on Friday and Monday, with all unanimously ruling against policyholders in six cases.
Posted: Jun 06, 2022
One of Mariah Carey’s most popular songs is hitting a sour note with an artist who only wants credit — and $20 million.
Posted: Jun 06, 2022
A divided Iowa Supreme Court on Friday ruled the post-traumatic stress disorder suffered by a 911 dispatcher who answered a phone call from a mother screaming after her infant was killed with a claw hammer is compensable under the state’s workers com...
Posted: Jun 06, 2022
Chubb Ltd. on Monday named Leigh Anne Sherman specialty officer for North America middle market and said Jim Shevlin would succeed her as division president of ESIS Inc., its third-party administrator.
Posted: Jun 06, 2022
A rejected male applicant for a University of Cincinnati professorship can still proceed with his gender discrimination litigation even though the position he sought was never filled, a federal appeals court said Friday.
Posted: Jun 06, 2022
A study by the Khalifa University said that the frequency of tropical cyclones hitting Gulf nations is likely to grow due to climate change.
Posted: Jun 06, 2022
U.S.-based hospitality company Marriott International Inc. has decided to suspend all operations in Russia as the sanctions imposed on the country by the U.S., the U.K. and the European Union are hampering Marriott’s operations in Russia.
Posted: Jun 06, 2022
Hong Kong-based Peak Reinsurance Co. Ltd. has closed its 144A catastrophe bond issuance, raising $150 million in retrocessional reinsurance cover for Japanese typhoons.
Posted: Jun 06, 2022
Singapore-based insurance technology company JA Assure Pte Ltd. has partnered with Chubb Ltd. to launch the Haxsafe cyber insurance platform for small and medium-sized enterprises.
Posted: Jun 06, 2022
A fire and explosion at inland container depot of BM Container Depot Ltd. in Kadamrasul, Bangladesh, on June 4 killed at least 35 people while injuring more than 450 others.
Posted: Jun 06, 2022
Up to 15 ships trapped in Ukraine could be declared as constructive total losses (CTLs) if the war waged by Russia continues until August, resulting in tens of millions of dollars’ worth of losses for marine insurers.
Posted: Jun 06, 2022
The website of Russia’s Ministry of Construction, Housing and Utilities appeared to have been hacked, with an internet search for the site leading to a “Glory to Ukraine” sign in Ukrainian.
Posted: Jun 06, 2022
A resolution that would create a task force to study policies regarding employment and medical marijuana was introduced Sunday in the Louisiana House of Representatives.
Posted: Jun 06, 2022
A divided Florida appellate court found that a former part-time correctional officer who suffered a heart attack was not entitled to a workers compensation presumption because he did not have a second pre-employment physical before he was hired full...
Posted: Jun 06, 2022
The 11th U.S. Circuit Court of Appeals in Atlanta on Friday continued its recent flurry of pro-insurer, COVID-19 business interruption rulings by deciding against an Acworth, Georgia-based restaurant in its litigation against a Nationwide Mutual Insu...
Posted: Jun 03, 2022
The Department of Atmospheric Science at Colorado State University in Fort Collins has increased its forecast to a well-above-average Atlantic basin hurricane season this year.
Posted: Jun 03, 2022
A bank’s terminated, 64-year-old senior vice president provided sufficient evidence to survive summary judgment dismissing his age discrimination case, a federal appeals court ruled Thursday, in overturning a lower court ruling and reinstating the li...
Posted: Jun 03, 2022