Business Insurance
Looking for a stable job? Ever considered the insurance industry? If you moved to the beach during the pandemic and the idea of commuting to the office five days a week doesn’t appeal, a job in insurance may be the answer.
Posted: May 31, 2022
Acrisure said Tuesday it has raised $725 million in a fresh funding round led by a wholly owned subsidiary of the Abu Dhabi Investment Authority, valuing the insurance brokerage at $23 billion.
Posted: May 31, 2022
Heavy rains struck north-eastern Brazilian state of Pernambuco last week, triggering deadly floods and landslides on May 27 that caused heavy damage in Pernambuco’s Recife city and claimed the lives of over 90 people.
Posted: May 31, 2022
Russia could soon be passing a new law under which local businesses of all the Western companies – exiting Russia amid the war in Ukraine – could be seized by the country.
Posted: May 31, 2022
South Korea-based Samsung Electronics Co. Ltd. plans to cut its annual production of smartphones by 30 million units to 280 million units this year due to the supply chain disruptions and parts shortage triggered by the COVID-19 pandemic and Ukraine...
Posted: May 31, 2022
Russian energy company Gazprom PJSC has decided to suspend gas supplies to Netherlands-based GasTerra BV effective May 31, after the latter declined to pay for gas in Russian rubles.
Posted: May 31, 2022
Travis Wendt, head of placement at Australia-based Honan Insurance Group Pty Ltd., said that inflationary pressure is likely to prolong insurance rate increases through the first half of 2023 in Australia, with high-risk clients likely to see steep r...
Posted: May 31, 2022
State-owned reinsurer General Insurance Corporation of India’s gross written premiums increased almost 17% year-on-year to 103 billion Indian rupees ($1.3 billion) in the first quarter of the year.
Posted: May 31, 2022
Insurance industry sources said that insurance premiums for specialty insurance lines such as marine and aviation are doubling due to the war in Ukraine.
Posted: May 31, 2022
Former Aon PLC executive Zach Breslin has joined Lockton Re as leader of capital markets, a newly created position, the reinsurance unit of broker Lockton Cos. LLC said Tuesday.
Posted: May 31, 2022
Insurance premiums are doubling or more for some aviation and marine business particularly exposed to the war in Ukraine, increasing costs for airline and shipping companies, industry sources say.
Posted: May 31, 2022
California lawmakers last week passed most 2022 legislative session workers compensation bills ahead of Friday’s deadline to move bills out of the chamber in which they were introduced.
Posted: May 31, 2022
Four affiliated meat processing facilities that were investigated for alleged COVID-19 safety failures will have to create an infectious disease preparedness plan and pay a $14,502 fine, the U.S. Occupational Safety and Health Administration announce...
Posted: May 31, 2022
Thailand-based intergovernmental firm Asian Reinsurance Corp.’s gross accounted premium increased 15% year-on-year to $23.5 million in 2021, driven by the strategic initiatives undertaken by the reinsurer over past years.
Posted: May 31, 2022
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