Business Insurance
The Risk and Insurance Management Society Inc. said Thursday it has added a Kentucky chapter, based in Louisville, effective immediately.
Posted: Jun 02, 2022
Iranian armed forces seized two Greek-flagged tankers in the Persian Gulf on May 27, raising concerns of further shipping disruptions especially in the Strait of Hormuz, which is an important waterway for global energy supplies.
Posted: Jun 02, 2022
Andriy Yermak, head of the Office of the President of Ukraine, said the European Union might impose an insurance ban on ships carrying Russian oil which could hurt Russian oil exports to Asia, as European insurers underwrite most of the world's oil t...
Posted: Jun 02, 2022
The U.K. government’s live events reinsurance program has backed around 150 events since its launch in August 2021, providing more than £100 million ($126.3 million) worth of cover supporting investments worth £400 million.
Posted: Jun 02, 2022
Santam Ltd. estimates it has 3.2 billion South African rand ($205 million) in gross exposure to the recent floods that struck South Africa’s KwaZulu-Natal province.
Posted: Jun 02, 2022
Marsh McLennan Agency, a unit of Marsh LLC, said Thursday it has bought Portland, Maine-based Clark Insurance.
Posted: Jun 02, 2022
A federal appeals court on Wednesday affirmed the dismissal of a COVID-19-related business interruption lawsuit filed by a commercial property owner against an Endurance Reinsurance Corp. unit.
Posted: Jun 02, 2022
NFP Corp. said Thursday that former Markel Corp. executive Emily Horsman has been appointed head of national broking in Canada.
Posted: Jun 02, 2022
Two federal appeals courts have issued additional rulings against policyholders in COVID-19-related business interruption cases, with both citing earlier decisions.
Posted: Jun 01, 2022
A Hiscox Ltd. unit does not have a duty to defend a medical practice that provided “regenerative” medical products and services which was sued by Georgia for unfair business acts, a federal appeals court ruled Tuesday, in affirming a lower court ruli...
Posted: Jun 01, 2022
The Wisconsin Supreme Court overturned a rare ruling in policyholders’ favor in COVID-19-related business interruption on Wednesday, and unanimously joined two other state supreme courts in ruling a group of restaurants were not entitled to COVID-19...
Posted: Jun 01, 2022
Hospital outpatient payments were higher and growing faster in states with percent-of-charge-based fee regulations or no fee schedules, according to a study released Tuesday by the Workers Compensation Research Institute.
Posted: Jun 01, 2022
The Workers Compensation Institute on Wednesday named former regulator Andrew Sabolic executive director.
Posted: Jun 01, 2022
The chief executive of top German asset manager DWS will step down next week, he said on Wednesday, a day after raids by prosecutors over allegations that the company misled investors about "green" investments.
Posted: Jun 01, 2022
Nearly 25% of COVID-19 workers compensation claims in Texas that involved professional or hospital/facility services received these services beyond one-month post-injury, according to a report released Tuesday by the Texas Department of Insurance.
Posted: Jun 01, 2022
Hartford Financial Services Group Inc. on Wednesday said David DeSilva has been promoted to head of construction for middle and large commercial.
Posted: Jun 01, 2022
Hudson Insurance Group Wednesday named David A. Garrison senior vice president and head of its new general partners liability unit and introduced a product for asset managers.
Posted: Jun 01, 2022
According to a report by Ireland-based Accenture PLC, European Union could lose an estimated €920 billion ($987.6 billion) in gross domestic product by 2023 if the supply chain disruptions due to the COVID-19 pandemic and Russia-Ukraine war continue.
Posted: Jun 01, 2022
Brazilian mining firm Vale SA has deposited 1.2 billion Brazilian real ($252.37 million) in an escrow account as part of the compensation it has agreed to pay for the Brumadinho dam disaster that killed 270 people in Brazil in 2019.
Posted: Jun 01, 2022
Russian energy company Gazprom PJSC has decided to suspend natural gas supplies to Denmark’s energy company Orsted A/S and Shell Energy Europe Ltd. in Germany with effect from June 1 as the companies have refused to pay in Russian rubles.
Posted: Jun 01, 2022
The Insurance Council of Australia said that insured damage from the floods that ravaged Southeast Queensland and Northern New South Wales earlier this year has reached an estimated $4.3 billion Australian ($3 billion).
Posted: Jun 01, 2022
Verisk Analytics Inc. said Wednesday that its Respond MAP mapping and analytics platform is included as part of the Respond weather data package.
Posted: Jun 01, 2022
Lloyd’s of London, the world’s oldest insurance market, said Wednesday that it was working closely with British and international governments and regulators to implement global sanctions against Russia.
Posted: Jun 01, 2022
Ascot Group Ltd. on Wednesday named former Arch Insurance Group Inc. executive Brian Chiolan to the newly created position of executive vice president, management and professional liability.
Posted: Jun 01, 2022