Business Insurance
Directors and officers liability rate hikes continue to decelerate, while new facilities are providing needed capacity and competition, says a report issued Tuesday.
Posted: Sep 21, 2021
Reinsurer MS Amlin AG said Tuesday that Robert Wiest, former chief operating officer of reinsurance at Swiss Re Ltd., will join the company as CEO.
Posted: Sep 21, 2021
Bermuda-based specialty reinsurer Convex Group Ltd. has opened a new European subsidiary in Luxembourg that will help Convex grow its presence in Europe.
Posted: Sep 21, 2021
Data from the Central Bank of the Russia Federation showed that local insurers’ aggregate gross written premiums increased 21% year-on-year to Russian rubles ($12.2 billion) in the first half of the 2021.
Posted: Sep 21, 2021
Bermuda-based insurer Sompo International Holdings Ltd. has agreed to acquire Italy-based agriculture insurance specialist Assicurazioni Rischi Agricoli VMG 1857 SpA.
Posted: Sep 21, 2021
A Hartford Financial Services Group Inc. unit must defend a masonry company in construction defect litigation, says a federal district court, in granting the company partial summary judgments in the case.
Posted: Sep 20, 2021
Iowa-based farm services provider NEW Cooperative Inc. said on Monday its systems were offline to contain a “cybersecurity” incident just as the U.S. farm belt gears up for harvest.
Posted: Sep 20, 2021
The U.S. securities regulator is investigating Activision Blizzard’s handling of employees’ allegations of sexual misconduct and workplace discrimination, the Wall Street Journal reported on Monday, citing people familiar with the investigation and d...
Posted: Sep 20, 2021
A company that faced significant legal fees stemming from a whistleblower lawsuit that was ultimately dismissed does not have coverage under its Hiscox Insurance Co. directors and officers liability policy, a federal appeals court said Friday in affi...
Posted: Sep 20, 2021
Insurtech company Cover Whale Insurance Solutions Inc., which focuses on commercial auto, said Monday it is partnering with insurtech Everspan Indemnity Insurance Co. in a trucking program.
Posted: Sep 20, 2021
Insurance merger and acquisition activity continues to accelerate for most sectors in 2021, with the number of deals increasing 18% year-to-date, according to a report released Monday by Deloitte Consulting LLP.
Posted: Sep 20, 2021
An Illinois state appeals panel ruled Friday that the statute of limitations under the Illinois Biometric Information Privacy Act varies depending upon the charges in the case.
Posted: Sep 20, 2021
Everest Insurance, the primary insurance arm of Everest Re Group Ltd., on Monday named former Chubb claims executive Andrew McBride as senior vice president, global head of claims.
Posted: Sep 20, 2021
One Call, a provider of workers compensation services, said Monday it has named Jay Krueger to the newly created role of president.
Posted: Sep 20, 2021
Insured losses from Hurricane Nicholas will be close to $950 million, Boston-based catastrophe modeler Karen Clark & Co. said Monday.
Posted: Sep 20, 2021
The Texas Division of Workers’ Compensation announced it will increase maximum temporary income benefits by 5.1%, effective Oct. 1.
Posted: Sep 20, 2021
As the Delta variant circled the country and globe throughout the summer, travel enthusiasts weren’t getting on board with canceling upcoming fall trips.
Posted: Sep 20, 2021
In a recent survey, insurance buyers from Spain and Portuguese highlighted the increased difficulty in finding coverage for director and officers, property and cyber risks.
Posted: Sep 20, 2021
Bulgaria's Financial Supervision Commission has allowed insurer Bulstrad Vienna Insurance Group AD to absorb its sister concern Nova Ins EAD as part of a restructuring process.
Posted: Sep 20, 2021
Japanese carmaker Toyota Motor Corp. will temporarily suspend production at 14 of its plants in Japan for several days in October, as the resurgence of COVID-19 cases in Southeast Asia disrupts the supply of components.
Posted: Sep 20, 2021
The Canary Islands Volcanology Institute in Spain said that there was an eruption at the Cumbre Vieja volcanic ridge on Spain’s Canary Island of La Palma on Sept. 19 after a week of seismic activity.
Posted: Sep 20, 2021
Dody Dalimunthe, executive director of the Indonesian General Insurance Association, has advised local insurers to review their risks and liability exposures, as the market hardens due to the impacts of the COVID-19 pandemic.
Posted: Sep 20, 2021
USI Insurance Services LLC said Monday it has bought offshore fishing insurance brokerage Insurance and Capital Management LLC.
Posted: Sep 20, 2021
German reinsurer Hannover Re SE expects higher prices in the Asia-Pacific region at the upcoming reinsurance renewals of Jan. 1 and April 1, 2022.
Posted: Sep 20, 2021
A Great American Insurance Group unit is not obligated to defend or indemnify a marketing agency in litigation over a failed franchise arrangement, a federal district court has ruled.
Posted: Sep 17, 2021