Business Insurance
Alera Group Inc. said Wednesday it will merge with privately held Tacoma, Washington-based Propel Insurance, as the core investors in the two companies made commitments to inject new capital.
Posted: Sep 08, 2021
The U.S. Securities and Exchange Commission has told Coinbase Global Inc. that it plans to sue the cryptocurrency exchange if it goes ahead with plans to launch a program allowing users to earn interest by lending digital assets, Coinbase said.
Posted: Sep 08, 2021
Commercial insured flood and wind losses in the U.S. Northeast from Hurricane Ida are estimated at between $3 billion and $5 billion, according to CoreLogic Inc.
Posted: Sep 08, 2021
Kuwait-based Gulf Insurance Group KSCP has completed the acquisition of Axa SA’s insurance operations in the Gulf region for $474.75 million in cash.
Posted: Sep 08, 2021
London-based claims management company Davies Group Ltd. said Wednesday it has acquired Asta Capital Ltd., a third-party Lloyd’s managing general agent.
Posted: Sep 08, 2021
Months after business travel was expected to tick upwards following vaccinations and a slowing down of COVID-19 transmission, legal experts say the Delta variant could upend things once again.
Posted: Sep 08, 2021
Jill Beggs, president of excess and surplus lines at Munich Re Specialty Insurance, discusses the launch of the commercial insurer and the outlook for the market.
Posted: Sep 08, 2021
Tom Clark, CEO of RSG Underwriting Managers, the underwriting arm of Ryan Specialty Group Holdings Inc., is leaving the company, effective Sept. 30.
Posted: Sep 08, 2021
Data from the Belarusian Ministry of Finance showed that local insurers’ gross written premiums rose more than 18% year-on-year to 874.7 million Belarusian ruble ($346 million) in the first half of the year.
Posted: Sep 08, 2021
The military coup in the African nation of Guinea on Sept. 5 has sparked fear sof aluminum supply-chain disruptions.
Posted: Sep 08, 2021
New Zealand’s Computer Emergency Response Team said that a distributed denial-of-service attack affected websites of several financial entities in the country on Sept. 8.
Posted: Sep 08, 2021
American International Group Inc. said Wednesday that President and CEO Peter Zaffino will also become chairman of the board, effective Jan. 1, 2022.
Posted: Sep 08, 2021
A 7.0-magnitude earthquake struck near the Mexican beach resort town of Acapulco on Sept. 7, damaging buildings, toppling trees and killing at least one person.
Posted: Sep 08, 2021
Two state investors China Insurance Security Fund Co. Ltd. and China Petrochemical Corporation have made a third attempt to sell a 98.8% stake in Chinese insurer Dajia Insurance Group Co. by reducing the asking price by 10%.
Posted: Sep 08, 2021
Zurich North America on Tuesday named former Chubb Ltd. executive Carl Sutter as head of distribution for its U.S. middle-market business unit, a new position.
Posted: Sep 07, 2021
A Washington state court on Thursday ruled that the Snoqualmie Indian Tribe is owed business interruption coverage under its policy with an FM Global unit for losses it sustained after being forced to close its casino and events locations due to the...
Posted: Sep 07, 2021
Aspen Insurance Holdings Ltd. reported net income of $87.4 million for the six months ended June 30, 2021, helped in part by the sector’s strong pricing, compared with a net loss of $172.8 million in the six months ended June 30, 2020.
Posted: Sep 07, 2021
A Washington state court on Thursday ruled that the Snoqualmie Indian Tribe is owed business interruption coverage under its policy with an FM Global unit for losses it sustained after being forced to close its casino and events locations due to the...
Posted: Sep 07, 2021
Data from North Macedonia's Insurance Supervision Agency showed that local insurers’ combined gross written premium rose 14.6% year-on-year to nearly 6 billion Macedonian denars ($113.6 million) in the first half of the year.
Posted: Sep 07, 2021
According to the Insurance Council of New Zealand Te Kahui Inihua o Aotearoa, floods that swept across New Zealand between July 16 and 19 triggered $122 million New Zealand ($85.5 million) worth of insurance claims.
Posted: Sep 07, 2021
U.S.-based insurance broker Lockton Companies Inc. has launched a new unit in New Zealand with the goal of selling commercial insurance and risk management services.
Posted: Sep 07, 2021
Medical payments fell to $1.8 billion in calendar year 2020, down 9.4% compared to the approximately $2 billion in medical payments for 2019, according to a report from the Workers’ Compensation Insurance Rating Bureau of California.
Posted: Sep 07, 2021
A report said that many Australian companies are at risk of becoming uninsurable in the absence of adequate cyber risk mitigation measures, as insurers become stricter in underwriting cyber risks amid increasing cyber attacks and soaring costs.
Posted: Sep 07, 2021
A coalition of employers is asking a California appellate court to find that the exclusive remedy of workers’ compensation precludes a lawsuit alleging an employer’s negligence in exposing a worker to the novel coronavirus caused the death of her hus...
Posted: Sep 07, 2021
Risk Management Services Inc. Tuesday estimated onshore and offshore U.S. insured losses from Hurricane Ida in the Gulf of Mexico region to be between $25 billion and $35 billion.
Posted: Sep 07, 2021