Business Insurance
Cargo theft costs are rising in the U.S. as higher-value goods such as vehicles and electronics are targeted, and as inflation pushes up the cost of goods.
Posted: May 31, 2022
Nigerian reinsurer FBS Reinsurance Ltd. is looking to support insurers in West Africa to help them grow their underwriting capacity, especially in the cyber insurance and bankers' blanket bonds segments.
Posted: May 30, 2022
Bermuda-based reinsurer Everest Re Group Ltd.’s insurance division is set to operate in Chile, after securing necessary regulatory approvals.
Posted: May 30, 2022
Vanuatu has declared a climate emergency, as severe weather and rising sea levels threaten the Pacific island nation.
Posted: May 30, 2022
Netherlands-based KLM Royal Dutch Airlines was forced to temporarily suspend new ticket sales for most of its flights from Amsterdam Schiphol Airport through May 29 due to staff shortages and resulting long queues at airport security checks.
Posted: May 30, 2022
Data from the Insurance Association of Turkey showed that local insurers’ aggregate premium increased 70% year-on-year to approximately 43 billion Turkish lira ($2.7 billion) in the first quarter of the year.
Posted: May 30, 2022
U.S.-based Property Claim Services Inc. has warned that the Ukraine-Russia war could have “profound implications” on global renewable energy insurers and reinsurers.
Posted: May 30, 2022
The U.K.’s Competition and Markets Authority has initiated another probe into Google LLC’s alleged dominance in the advertising technology market and potential impact on fair competition.
Posted: May 30, 2022
The U.S. National Hurricane Center said that Hurricane Agatha is expected to hit Mexico’s southern Pacific coast on May 30, threatening tourist towns in the Mexican state of Oaxaca.
Posted: May 30, 2022
The streamlined user experience, seamless customer support and improved navigation that was supposed to define the digital transformation of the property/casualty insurance industry — and improve customer satisfaction — has been overpowered by rising...
Posted: May 27, 2022
Citing previous decisions, a federal appeals court on Friday ruled in favor of an Allianz SE unit in COVID-19-business interruption litigation filed by a Miami hotel owner.
Posted: May 27, 2022
The Florida Supreme Court on Thursday unanimously ruled that state workers compensation law does not preclude circuit court jurisdiction over claims against a health care provider for prohibited debt collection practices.
Posted: May 27, 2022
Being older than 60 at the time of COVID-19 infection was the “strongest risk factor” associated with prolonged impairment and high costs of related workers compensation claims, according to a study published in the Journal of Occupational and Enviro...
Posted: May 27, 2022
A derecho that traveled 621 miles across southern Canada, hitting major metro areas, could be one of the costliest insured severe convective storm events on record for Canada’s insurance industry, Aon PLC said Friday in its latest catastrophe report.
Posted: May 27, 2022
A study by the Bank of England showed that climate change could drag down annual profits of insurers and banks in the U.K. by 10% to 15% if climate risks are not addressed promptly.
Posted: May 27, 2022
The U.S. Geological Survey said a 7.2-magnitude earthquake struck near the Azangaro province in southern Peru on May 26, shaking buildings in some cities and even in Bolivia’s La Paz.
Posted: May 27, 2022
Slovenian insurer Zavarovalnica Triglav dd's aggregate revenue jumped 12% year-on-year to almost €443 million ($468 million) in the first quarter of the year.
Posted: May 27, 2022
The Insurance Regulatory and Development Authority of India has allowed U.K.-based insurance broker Howden Broking Group Ltd. to raise its stake in local subsidiary Howden Insurance Brokers India Pvt. Ltd. to 100% from 49%.
Posted: May 27, 2022
Data from the Chinese National Bureau of Statistics revealed that profits of China’s industrial firms decreased by 8.5% year-on-year in April, as business activities were hit by the country’s strict COVID-19 lockdowns and surging raw material prices.
Posted: May 27, 2022
Data from the Australian Prudential Regulation Authority showed that local insurers’ aggregate net profit increased by almost 17% to $1.3 billion Australian ($920 million) in the year ended March 31.
Posted: May 27, 2022
Italian insurer Assicurazioni Generali SpA has acquired and additional 6.8% stake in local rival Societa Cattolica di Assicurazione SpA’s for almost €105.4 million ($111.3 million), raising its stake in Cattolica to around 91.5%.
Posted: May 27, 2022
The Monetary Authority of Singapore has ordered Singapore-based Oversea-Chinese Banking Corp. Ltd. to set aside additional reserves of $330 million Singaporean ($240 million) for operational risks associated with a December 2021.
Posted: May 27, 2022
Reinsurers in the United States reported premium growth of more than 20% in the first quarter and global reinsurers reported double-digit premium growth last year, according to two reports released Friday.
Posted: May 27, 2022
No surprise about this week’s No. 1 — the annual roundup of the highest-paid executives at the largest listed insurance brokerages.
Posted: May 27, 2022
The U.S. Securities and Exchange Commission is looking into Tesla Inc. CEO Elon Musk’s disclosure of his stake in Twitter Inc. in early April, according to a letter the agency sent to him in April.
Posted: May 27, 2022