Business Insurance
To follow the spread of COVID-19, California enacted Senate Bill 1159 in September 2020.
Posted: Sep 14, 2021
Parametric insurance coverage has been available for more than a decade but has often been seen as expensive compared with traditional coverage.
Posted: Sep 14, 2021
A Kentucky appeals court on Friday reversed an administrative law judge’s ruling that barred the reopening of an injury case for a hotel worker that slipped while cleaning.
Posted: Sep 13, 2021
Parts of the levee system installed in New Orleans by the United States Army Corps of Engineers after Hurricane Katrina appear to have performed as designed and helped spare the city from Hurricane Ida’s storm surge.
Posted: Sep 13, 2021
Purdue Pharma, the bankrupt maker of the OxyContin painkiller, on Monday obtained court approval to pay up to $7.1 million in incentive payments for five top executives if they meet certain goals, despite opposition from U.S. government lawyers.
Posted: Sep 13, 2021
Pet owners are in the doghouse when it comes to ensuring they can cover emergency medical costs for their furry friends, according to a survey by Pumpkin Insurance Services Inc.
Posted: Sep 13, 2021
A W.R. Berkley unit is not obligated to indemnify a contractor for a subcontractor’s deficient work, a federal appeals court said Friday, in affirming a lower court’s ruling.
Posted: Sep 13, 2021
U.S. commercial insurance price increases continued to ease in the second quarter of 2021, though nearly all lines reported significant increases, Willis Towers Watson said in its commercial lines insurance pricing survey released Monday.
Posted: Sep 13, 2021
The California Workers’ Compensation Institute reports COVID-19 was the leading cause of job-related death claims in accident year 2020, accounting for 866 out of 1,563 claims.
Posted: Sep 13, 2021
President Joe Biden’s plan requiring more than 100 million Americans to get vaccinated against COVID-19 relies on a rarely used workplace rule with a history of being blocked in court, making it an inviting target for legal challenges by employers.
Posted: Sep 13, 2021
Insured losses from a Sept. 7 earthquake in Mexico are estimated close to $200 million, according to an analysis Monday from Boston-based catastrophe modeler Karen Clark & Co.
Posted: Sep 13, 2021
Insurers are bracing for claims of between $20 billion and $30 billion after assessing the damage from Hurricane Ida in many locations including New York and New Jersey, catastrophe risk modeling firm AIR Worldwide said on Monday.
Posted: Sep 13, 2021
Italian insurer Assicurazioni Generali SpA’s two leading investors are ready to push to replace current chief executive Philippe Donnet if the board fails to reach an accord to keep him in the job.
Posted: Sep 13, 2021
India-based Bharti Enterprises Ltd. and France-based insurer Axa SA have completed the combination of their non-life insurance operations in India into ICICI Lombard General Insurance Company Ltd.
Posted: Sep 13, 2021
U.S.-based Fitch Ratings Inc. said that the demand for reinsurance in Latin America is expected to increase during the second half of this year due to heightened uncertainty linked to COVID-19.
Posted: Sep 13, 2021
South Africa-based Sanlam Ltd.’s operating earnings increased by 33% year-on-year to 4.68 billion South African rand ($330 million) in the six months ended June, based on a strong recovery in new business volume.
Posted: Sep 13, 2021
Kuwait-based Gulf Insurance Group KSCP has said that its acquisition of Axa SA’s insurance operations in the Gulf region will raise the group's annual revenue by $1 billion to $2.5 billion, making it the largest player in the Arab insurance market.
Posted: Sep 13, 2021
The Occupational Safety and Health Review Commission has partly vacated citations against a crane and rigging operator over radius hazards.
Posted: Sep 10, 2021
SiriusPoint Ltd. said Friday it would enter into a strategic partnership with online broker Vouch Insurance Services LLC under which SiriusPoint will provide multiyear underwriting capacity to Vouch and invest in the company’s Series C funding round.
Posted: Sep 10, 2021
Aon PLC said Friday it would combine the facultative reinsurance broking teams from Singapore and Asia Pacific to be led by Geoff Lambrou, who will be CEO, facultative, Asia Pacific.
Posted: Sep 10, 2021
A Connecticut state judge has refused to dismiss COVID-19 business interruption litigation filed against Zurich Insurance Group by a hotel chain seeking coverage for its Louisiana property, stating it has adequately alleged physical loss or damage.
Posted: Sep 10, 2021
A New York State Supreme Court judge on Thursday tossed all but one claim in a lawsuit filed against the Yankees and Major League Baseball over its contract with the team’s previous owners, who will still take the defendants out to the courthouse ove...
Posted: Sep 10, 2021
Preliminary data from Greece’s Hellenic Association of Insurance Companies said that local insurers saw more than 9% year-on-year growth in premium underwritten to €2.13 billion ($2.5 billion) in the first half of the year.
Posted: Sep 10, 2021
A report by credit reporting agency Tokyo Shoko Research Ltd. found that 1,026 Japanese businesses failed in the first eight months through August due to the COVID-19 pandemic, with restaurants accounting for almost 20% of these bankruptcies.
Posted: Sep 10, 2021
Switzerland-based insurance-focused blockchain consortium B3i Services AG is developing distributed ledger technology (DLT)-based platform for six nuclear insurance pools in Northwestern Europe for efficient management of inter-pool reinsurance contr...
Posted: Sep 10, 2021