Business Insurance
The Washington State Department of Labor and Industries announced that employers will be required to monitor temperatures and air quality throughout the summer and take steps to protect workers from heat and smoke hazards.
Posted: Jun 03, 2022
Vermont will allow captives domiciled in the state to cover and buy parametric risk transfer products, which pay claims based on agreed triggers rather than incurred physical losses.
Posted: Jun 03, 2022
Allianz SE said on Friday it would sell a majority stake in its Russian operations to the owner of a Russian insurer as it sought to pare its footprint in the country after the invasion of Ukraine.
Posted: Jun 03, 2022
Sandy Bigglestone has been named to succeed David Provost as deputy commissioner of the captive insurance division of the Vermont Department of Financial Regulation in Montpelier.
Posted: Jun 03, 2022
Hylant Group Inc. said Thursday it has expanded its global captive solutions business to North Carolina and hired former Strategic Risk Solutions Inc. executive Julia Schroeck as senior account manager, based in Charlotte.
Posted: Jun 03, 2022
A ransomware attack on Taiwanese electronics contract manufacturing firm Foxconn Technology Co. Ltd.’s factory in Mexico’s Tijuana city on May 31 led to production disruptions.
Posted: Jun 03, 2022
A report by PricewaterhouseCoopers LLP showed that 64% of the U.K. companies experienced economic crime or fraud in the past two years, compared to a global average of 46% firms.
Posted: Jun 03, 2022
A report by German insurer Allianz SE showed that the Malaysian property and casualty insurance market grew 3% in 2021, returning to growth after a 0.6% decline in the previous year.
Posted: Jun 03, 2022
U.S.-based J.P. Morgan Chase & Co. said that European reinsurers and underwriters at Lloyd’s of London were severely affected by the COVID-19 pandemic-related losses but there could be greater clarity over actual losses two years down the line.
Posted: Jun 03, 2022
This week’s news has been dominated by executive moves and changes. Also of note: Cargo theft costs are rising in the U.S.
Posted: Jun 03, 2022
Rates for cyber insurance continued to climb, while the directors and officers market has gotten some needed capital, according to a report Friday from USI Insurance Services Inc.
Posted: Jun 03, 2022
The Oklahoma Supreme Court on Wednesday said a worker who was severely injured crossing a busy highway to get to work can sue his employer.
Posted: Jun 03, 2022
Willis Towers Watson PLC said Thursday that it has hired former Aon PLC executive Stephen J. Feick to its life sciences team and Jason C. Bertoldi, who previously worked at a hedge fund, to head its North American contingent risk business.
Posted: Jun 02, 2022
An Arch Insurance Group Inc. unit does not have to pay $3.18 million under a performance bond it issued to a subcontractor because a general contractor did not first terminate the subcontractor as required, a federal appeals court said Wednesday, in...
Posted: Jun 02, 2022
The U.S. Equal Employment Opportunity Commission is encouraging current and former Activision Blizzard Inc. employees to file a claim enabling them to get a share of an $18 million sexual harassment claim fund.
Posted: Jun 02, 2022
Tenaris SA, a global manufacturer of steel pipes, said on Thursday it will pay $78.1 million to resolve U.S. probes into its alleged payment of bribes to win business from Brazil's state-owned oil company Petrobras.
Posted: Jun 02, 2022
The Commodity Futures Trading Commission said Thursday it has unanimously voted to seek public comment on climate-related financial risk.
Posted: Jun 02, 2022
A federal appeals court on Thursday ruled in favor of a OneBeacon Insurance Group Co. unit in COVID-19-related business interruption litigation filed by gym franchisees.
Posted: Jun 02, 2022
The Biden administration must thoroughly analyze the climate impacts of oil and gas leasing on nearly 4 million acres of federal land in five states before drilling can take place, according to legal settlements reached late Wednesday.
Posted: Jun 02, 2022
A federal appeals court on Wednesday partially overturned a lower court ruling and held that a Starr Insurance Cos. unit must provide a defense in a dispute stemming over a real estate investment, but does not have a duty to indemnify under its direc...
Posted: Jun 02, 2022
The U.S. CFTC filed a federal lawsuit in New York on Tuesday accusing Gemini Trust Co. of making false and misleading statements concerning a bitcoin futures contract the firm was pursuing in 2017.
Posted: Jun 02, 2022
According to the company that has trademarked everything Elvis, the King might have to leave the lucrative and kitschy Las Vegas wedding chapel business.
Posted: Jun 02, 2022
RSC Insurance Brokerage Inc., which does business as Risk Strategies Co., on Thursday said former Marsh LLC executive Paul Evans has joined the firm as an executive vice president in its national entertainment practice.
Posted: Jun 02, 2022
China's proposed cybersecurity rules for financial firms could pose risks to operations of western companies by making their data vulnerable to hacking, among other things, a leading lobby group has said in a letter seen by Reuters.
Posted: Jun 02, 2022
Owners of vehicles equipped with so-called defeat devices have a right to compensation from the vehicle manufacturer, an adviser to the top EU court said on Thursday in a case brought against Mercedes-Benz.
Posted: Jun 02, 2022