Business Insurance
Guy Carpenter & Co. LLC said Tuesday it has named former Willis Re Securities executive Quentin Perrot as managing director of GC Securities, with immediate effect.
Posted: Sep 07, 2021
Business interruption losses, a common source of claims following major events, could increase substantially in the wake of Hurricane Ida, depending on how long it takes to restore power to New Orleans and southeast Louisiana, experts say.
Posted: Sep 07, 2021
Global reinsurance rates are likely to continue rising next year, in the low- to mid-single-digit percentage range, Moody's analysts said Tuesday.
Posted: Sep 07, 2021
A first insurance claim has been filed and more are being prepared in Credit Suisse's efforts to recover funds from its insolvent supply chain finance linked to Greensill, the Swiss bank said Tuesday.
Posted: Sep 07, 2021
USI Insurance Services LLC said Tuesday it has acquired Des Moines, Iowa-based Reynolds & Reynolds Inc., a risk management and employee benefits agency.
Posted: Sep 07, 2021
The Chinese banking and insurance regulator is looking to update rules regulating insurance groups in the country in order to reduce financial risks.
Posted: Sep 06, 2021
Storm Dana hit central and eastern regions of Spain on Sept. 1, bringing intense rains and floods that damaged businesses, houses and roads, and toppled down power lines and trees.
Posted: Sep 06, 2021
Bahram Sobhani, chairman of Iran Steel Producers Association, said that the Iranian steel industry lost $6 billion due to the power outages this summer.
Posted: Sep 06, 2021
Saudi Arabia-based Islamic Corporation for the Insurance and Investment of Export Credit has signed two facultative reinsurance agreements with Saudi Exim Bank to offer credit reinsurance coverage.
Posted: Sep 06, 2021
Ola Kallenius, CEO of German automaker Daimler AG, said that the semiconductor chips shortage could continue to impact the global auto industry well into 2023, as increasing demand for chips has aggravate the existing crunch.
Posted: Sep 06, 2021
Germany is the country most exposed to flood risks among G20 nations on Marsh & McLennan Cos. Inc.’s new Flood Risk Index.
Posted: Sep 06, 2021
Aon PLC has acquired the remaining shares in Aon India Insurance Brokers Pvt. Ltd. from Catamaran Ventures LLP to gain full control of its Indian insurance brokerage arm.
Posted: Sep 06, 2021
AIR Worldwide said Friday that industry insured losses to onshore property from Hurricane Ida’s winds and storm surge will be $17 billion to $25 billion.
Posted: Sep 03, 2021
Vantage Group Holdings Ltd. said Thursday it is introducing new products in health care and excess and surplus casualty insurance in the United States and Bermuda.
Posted: Sep 03, 2021
An appeals court in Ohio on Thursday issued a reversal and remand of an earlier judgment in which an employee was denied workers compensation coverage after a fall in an employer-controlled parking lot while arriving at work.
Posted: Sep 03, 2021
A federal appeals court Thursday reversed a lower court and ruled a Hartford Financial Services Insurance Group Inc. unit must indemnify a financial services company that was victimized by a scammer.
Posted: Sep 03, 2021
An appeals court in New York on Thursday ruled that a Delta Airlines Inc. flight attendant suffered an occupational illness related to the chemicals in her issued uniform.
Posted: Sep 03, 2021
Alliant Insurance Services Inc. said Thursday it has acquired Biggs Insurance Services, a Vancouver, Washington-based agency that provides commercial and personal insurance, employee benefits and consulting services in the Pacific Northwest.
Posted: Sep 03, 2021
The U.S. securities regulator has been asking money managers to explain the standards they use for classifying funds as environmental, social and governance-focused for several months, Bloomberg News reported, citing people familiar with the matter.
Posted: Sep 03, 2021
The federal agency that takes on companies big and small for fraud, false advertising and more is aiming to come to the aid of those who desperately crave a McFlurry or soft serve sundae from their local McDonald’s franchise.
Posted: Sep 03, 2021
The Irish Data Protection Commission has fined U.S.-based messaging service WhatsApp Inc. €225 million ($264.6 million) for breach of General Data Protection Regulations.
Posted: Sep 03, 2021
French insurer Groupama SA’s total premium income increased by almost 9% year-on-year to €10.1 billion ($12 billion) in the first half of the year, driven by its life and health insurance segment.
Posted: Sep 03, 2021
An Amazon Web Services outage on Sept. 2 caused operational disruptions at several corporations in Tokyo, including airline ANA Holdings Inc., which had to delay some of its flights after its ticketing and check-in system went down.
Posted: Sep 03, 2021
A report by Litmus Analysis Ltd. said that the four largest European reinsurers’ treaty premium increased 11% year-on-year to €12 billion ($14 billion) at the mid-year renewals.
Posted: Sep 03, 2021
South African insurer Santam Ltd. has settled 1.7 billion South African rand ($116 million) worth of COVID-19-related contingent business interruption claims so far.
Posted: Sep 03, 2021