Business Insurance
The annual roundup of the highest-paid executives at the largest U.S.-based or listed commercial property/casualty insurers is the clear leader in this week’s Top 10.
Posted: May 20, 2022
Greenland’s healthcare system has been “severely” affected by a cyber attack, which started on May 9 and forced the country’s healthcare services to restart all their IT systems and servers which consequently affected access to patient medical record...
Posted: May 20, 2022
Ratings agency A.M. Best Co. Inc. said that South Korean nonlife insurers’ aggregate net profit surged 72% year-on-year to a record-high of 3.7 trillion South Korean won ($3 billion) in 2021, driven by improved underwriting and steady investment resu...
Posted: May 20, 2022
Chubb Ltd. shareholders on Thursday rejected a proposal that would have limited the insurer’s ability to underwrite new fossil fuel supplies but approved a proposal requiring the company to produce a report on greenhouse gases associated with its ins...
Posted: May 20, 2022
A blast at of one of the largest South Korean oil refiner S-Oil Corp.’s refinery in Onsan, South Korea, on May 19 has forced the company to suspend production at several nearby processing units, raising concerns around further tightening of gasoline...
Posted: May 20, 2022
Swiss insurer Zurich Insurance Group Ltd. has agreed to sell its Russian business to the local team as it looks to exit Russia.
Posted: May 20, 2022
Newfront Insurance Inc. said Thursday it had hired former Marsh McLennan Agency principal Jeff Simpson as a senior vice president.
Posted: May 20, 2022
Austria-based insurer Vienna Insurance Group AG’s total premium volume increased by more than 11% year-on-year to €3.45 billion ($3.6 billion) in the first quarter of the year, largely driven by motor third party liability, property and casualty and...
Posted: May 20, 2022
Zurich Insurance Group Ltd. has agreed to sell its Russian business to members of the local team, it said on Friday, as the Swiss insurer became the latest Western firm to exit Russia.
Posted: May 20, 2022
Sedgwick Claims Management Services Inc. announced Thursday it has acquired Orchid Medical Inc., a provider of ancillary medical management solutions for the workers compensation industry.
Posted: May 20, 2022
Marsh & McLennan Cos. Inc. is arranging insurance coverage for a controversial east African oil pipeline that major banks and insurers are distancing themselves from, the Financial Times and the Bureau of Investigative Journalism reported Thursday.
Posted: May 19, 2022
Skyward Specialty Insurance Group said Thursday it is introducing renewable energy contractors coverage as part of its construction and energy product portfolio.
Posted: May 19, 2022
Henry Clark, head of professional & executive risks at Australia-based Honan Insurance Group Pty Ltd., said that directors and officers are facing increased regulatory scrutiny in the wake of increasing cyber attacks on supply chains.
Posted: May 19, 2022
French reinsurer Scor SE recently announced its commitment to stop covering new oilfield projects by 2023.
Posted: May 19, 2022
U.K.-based insurance broker PIB Group Ltd. has acquired Spanish insurance broker Tractio Risk SL, including both its business units – Tractio Risk Correduria de Seguros SL and Tractio Risk Solutions SL, as it looks to expand its foothold in Spain.
Posted: May 19, 2022
Brazilian petrochemical firm Braskem SA could face billions of dollars’ worth of claims if a lawsuit launched in the Netherlands by a group of Brazilians is allowed to proceed.
Posted: May 19, 2022
A group of 20 football clubs from the U.K., including Arsenal FC and Liverpool FC, are launching a multi-party lawsuit against some major insurers to reportedly recover COVID-19 related business interruption losses.
Posted: May 19, 2022
U.K.-based insurer Aviva PLC’s general insurance business posted 5% year-on-year growth in gross written premium to a record £2.1 billion ($2.6 billion) in the first quarter of the year.
Posted: May 19, 2022
An S&P Dow Jones Indices executive told Reuters on Wednesday it has removed electric carmaker Tesla Inc. from the widely followed S&P 500 ESG Index because of issues including claims of racial discrimination and crashes linked to its autopilot vehicl...
Posted: May 19, 2022
A Portland, Oregon, contractor is facing $65,000 more in fines for repeatedly violating workplace safety standards on fall protection, the Oregon Occupational Safety and Health Division announced Tuesday.
Posted: May 19, 2022
Zurich Insurance Group on Wednesday named former Aviva PLC executive Sarah Maillet as chief financial officer of commercial insurance, effective June 1.
Posted: May 19, 2022
The New York State Division of Human Rights has filed a complaint against Amazon.com Inc., accusing the online retailer of discriminating against pregnant and disabled workers at its worksites, Gov. Kathy Hochul said Wednesday.
Posted: May 19, 2022
A federal appeals court Tuesday affirmed dismissal of a COVID-19-related business interruption lawsuit filed against Lloyd’s of London underwriters by two pizzerias.
Posted: May 19, 2022
Insurers are not increasing coverage levels and rates sufficiently to offset rising construction costs amid higher inflation, Moody’s Investors Service Inc. said in a report Wednesday.
Posted: May 19, 2022
Phishing attacks deployed for initial access into companies’ computer systems increased by more than half in the first quarter compared with last year’s fourth quarter, says a report issued Tuesday.
Posted: May 19, 2022