Business Insurance
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
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