Business Insurance
Torrential rain and floods since May 28 have wreaked havoc in 80 counties of China's Jiangxi province, damaging 76,300 hectares of cropland and causing direct economic losses of 1.16 billion Chinese yuan ($174 million).
Posted: Jun 08, 2022
The U.S. has asked Mexico to probe alleged worker rights violations at Teksid Hierro de Mexico auto-parts plant owned by Netherlands-based carmaker Stellantis N.V.
Posted: Jun 08, 2022
German insurer Ergo Group AG's Thai subsidiary ThaiSri Insurance Public Co. Ltd. has appointed Till Bohmer as its chief executive.
Posted: Jun 08, 2022
Almost 200 flights into the U.K. airports were cancelled last weekend, with aviation bosses blaming ongoing staff shortages and bad weather for the disruption.
Posted: Jun 08, 2022
Although demand for political violence and terrorism cover in South Africa is increasing, the risk for reinsurers operating in this space is also increasing.
Posted: Jun 08, 2022
Dmitry Medvedev, deputy chairman of Russia's Security Council, said that Russia can bypass the European Union ban on insuring and financing seaborne deliveries of Russian oil to third countries by using state guarantees within the framework of inters...
Posted: Jun 08, 2022
Aaron Aanenson, senior director and cyber insurance thought leader at cyber security rating firm BitSight, discusses changes in cyber market and what underwriters examine when they consider a cyber risk.
Posted: Jun 07, 2022
The U.S. Supreme Court on Monday refused to consider a COVID-19-related business interruption case.
Posted: Jun 07, 2022
A bipartisan pair of U.S. senators unveiled a bill on Tuesday that would establish new rules for cryptocurrency, and hand the bulk of their oversight to the Commodity Futures Trading Commission.
Posted: Jun 07, 2022
Hub International Ltd. said Tuesday it has acquired the assets of Physicians Risk Associates Insurance Agency.
Posted: Jun 07, 2022
The family of the author whose article inspired the 1986 Tom Cruise movie “Top Gun” on Monday sued Paramount Pictures for copyright infringement over this year’s blockbuster sequel “Top Gun: Maverick,” according to Reuters.
Posted: Jun 07, 2022
The U.S. Securities and Exchange Commission is investigating whether crypto exchange Binance Holdings Ltd.'s initial coin offering in 2017 broke the agency's rules, Bloomberg reported, citing people familiar with the matter.
Posted: Jun 07, 2022
Tesla Inc. filed a complaint on Tuesday accusing a California civil rights agency that is suing the electric car maker for race discrimination of rushing to file lawsuits against businesses without conducting proper investigations.
Posted: Jun 07, 2022
South Korea’s unionized cargo truckers staged a nationwide, indefinite strike starting June 6, causing logistics disruptions.
Posted: Jun 07, 2022
Dutch automobile firm Stellantis NV has halted production at its Melfi plant in Italy due to a shortage of semiconductors.
Posted: Jun 07, 2022
A report by U.A.E.-based market research firm Insurance Monitor said that the aggregate gross written premium of 81 insurers listed in the Gulf Cooperation Council nations increased by 18% year-on-year to $9.2 billion in the first quarter.
Posted: Jun 07, 2022
A survey by Japan-based credit research firm Teikoku Databank Ltd. found that more than 50% of Japanese companies are struggling to source raw materials and other commodities due to supply chain disruptions resulting from the Russia-Ukraine war.
Posted: Jun 07, 2022
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