Business Insurance
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
Billionaire Elon Musk was sued by Twitter Inc. investors claiming he manipulated the company's stock price downward, as the chief executive of electric carmaker Tesla Inc. mounts a $44 billion takeover bid for the social media platform.
Posted: May 26, 2022
A Markel Corp. unit does not have to indemnify the U.S. Space & Rocket Center in Huntsville, Alabama, under its directors and officers liability coverage in connection with a children’s program that lost its funding, a federal appeals court ruled Wed...
Posted: May 26, 2022
The deadline to submit nominations for the Alonzo Herndon Award has been extended to June 15.
Posted: May 26, 2022
A federal appeals court on Wednesday issued its third ruling this week against a policyholder in a COVID-19-related business interruption lawsuit filed against State Farm Insurance Co. units by an eyewear retailer.
Posted: May 26, 2022
Axa XL, the property/casualty unit of France’s Axa SA, said Thursday it has named David Brooks to the newly created role of chief underwriting officer, programs and delegated arrangements for the Americas, effective June 1.
Posted: May 26, 2022
Although nearly 75% of organizations have experienced cyberattacks, most companies have not adopted an enterprise-wide approach to cyber risk, says a report issued Thursday.
Posted: May 26, 2022
Rhode Island Gov. Dan McKee on Wednesday signed into law legislation legalizing the personal use and licensed retail sale of marijuana to those age 21 or older.
Posted: May 26, 2022
Mexico will go to local and international courts if there is no agreement with U.S. firm Vulcan Materials Co. over its mining activity in the eastern state of Quintana Roo, President Andres Manuel Lopez Obrador said Wednesday.
Posted: May 26, 2022