Business Insurance
Juan Andrade, president and CEO of Bermuda-based reinsurer Everest Re Group Ltd., said that reinsurers are in an “arms race” for the latest technology and processes to improve their risk underwriting and pricing amid increasing frequency and severity...
Posted: Sep 10, 2021
Regular insurance and risk management stories were eclipsed this week by news of the killing of an industry executive.
Posted: Sep 10, 2021
The U.S. Department of Justice investigation into German insurer Allianz SE is looking at possible misconduct by fund managers and misrepresentation of risk to investors, three people with knowledge of the matter told Reuters.
Posted: Sep 10, 2021
Drugmaker Endo International PLC on Thursday said it has agreed to pay $50 million to resolve lawsuits by New York state and two of its largest counties related to the sale and marketing of opioids.
Posted: Sep 10, 2021
A federal appeals court Wednesday affirmed a lower court ruling in favor of units of Allied World Assurance Company Holdings Ltd., Intact Insurance Group USA LLC and Travelers Cos. Inc. in litigation filed by a prescription benefit manager over their...
Posted: Sep 09, 2021
A Missouri appeals court on Tuesday reversed a lower court ruling against an injured worker who claimed retaliatory discharge after filing a workers compensation claim.
Posted: Sep 09, 2021
Offshore energy companies are likely to face greater financial losses from Hurricane Ida than from previous storms in the Gulf of Mexico, because of reduced coverage offered by insurers, risk modeler RMS said Thursday.
Posted: Sep 09, 2021
Willis Towers Watson PLC on Thursday outlined a bold plan to deliver $10 billion+ in revenues and a 25% margin expansion by 2024 as it unveiled a $300 million cost-saving program and $4 billion in share buybacks.
Posted: Sep 09, 2021
Heidi Hull, Cleveland-based operations senior vice president for FM Global, was killed with her family in an apparent murder-suicide Tuesday.
Posted: Sep 09, 2021
Data from the National Bank of Ukraine showed that the local insurance market grew by almost 18% year-on-year to 24.8 billion Ukrainian hryvnia ($922.8 million) in the first half of the year.
Posted: Sep 09, 2021
India-based First Policy Insurance Brokers Pvt. Ltd. has completed the acquisition of Indian counterpart Amicus Insurance Broking Services Pvt. Ltd., which specializes in marine, energy, liability, credit, and construction and property insurance.
Posted: Sep 09, 2021
French reinsurer Scor SE aims to strengthen its primary corporate and specialty insurance business over the next couple of years to diversify its overall portfolio and reduce exposure to more volatile natural catastrophe reinsurance.
Posted: Sep 09, 2021
Pirates attacked Indian firm ProActive Ship Management Pvt. Ltd.-managed vessel MV Tampen off the coast of the African country Gabon on Sept. 5, injuring two crew members and kidnapping one.
Posted: Sep 09, 2021
The China Banking and Insurance Regulatory Commission has that floods that ravaged the Chinese province Henan in July resulted in an estimated 12.4 billion Chinese yuan ($1.9 billion) in insured losses.
Posted: Sep 09, 2021
South African state-owned insurer Sasria SOC Ltd. said that the civil riots in July caused 25 billion South African rand ($1.7 billion) worth of insured damage in the country.
Posted: Sep 09, 2021
A cyberattack on Russian tech giant Yandex’s servers in August and September was the largest known distributed denial-of-service attack in the history of the internet, the company said on Thursday.
Posted: Sep 09, 2021
Chipping away at the reason why people tend to switch dentists, a new survey by dentalinsurance.com finds that for some it’s a matter of being sensitive about what a dentist says about their teeth.
Posted: Sep 09, 2021
Corvus Insurance Holdings Inc. on Thursday introduced its Risk Aggregation Platform to help reinsurers and program managers analyze metrics including aggregate exposure data, ransomware scores and emerging threat information.
Posted: Sep 09, 2021
Oregon employers on average in 2022 would see their workers compensation coverage costs decline for the 9th consecutive year, the Oregon Department of Consumer and Business Services announced Wednesday.
Posted: Sep 09, 2021
Cowbell Cyber Inc. said it has named Chris Reese, former Lockton Cos. LLC senior vice president and cyber & technology insurance practice lead, as its head of insurance, a new position.
Posted: Sep 09, 2021
Broker BRP Group Inc. said Wednesday it has agreed to acquire Dallas-based agency White Hill Plaza Inc., which operates as K&S Insurance Agency, through an indirect subsidiary.
Posted: Sep 09, 2021
Lloyd’s of London reported a profit of £1.4 billion ($1.93 billion) for the first half of this year, compared with a loss of £400 million in the year-earlier period, after underwriting returned to a profit, helped by average premium rate increases of...
Posted: Sep 09, 2021
Cognizant Technology Solutions Corp. has reached a $95 million settlement to resolve a lawsuit accusing the information technology services company of defrauding shareholders by concealing bribes to officials in India.
Posted: Sep 08, 2021
Texas Gov. Greg Abbott appointed Cassie Brown commissioner of insurance on Monday, filling a post that has been unoccupied for over a year.
Posted: Sep 08, 2021
Fifty-one health care workers in Detroit filed a lawsuit Monday against their hospital employer over its COVID-19 vaccine mandate.
Posted: Sep 08, 2021