Business Insurance
Nearly all of Louisiana lost electrical power on Monday after one of the most powerful hurricanes to strike the region downed power lines, littered roads with debris and flooded isolated communities south of New Orleans.
Posted: Aug 30, 2021
A federal appeals court Friday affirmed a jury award in favor of an Axa SA unit in litigation largely related to a Hurricane Irma claim.
Posted: Aug 30, 2021
Moody’s Investors Services Inc. cautioned Monday that it could take “months” to assess the magnitude of Ida’s impact on the property/casualty sector after the Category 4 Hurricane barreled into the Louisiana coast on Sunday.
Posted: Aug 30, 2021
Hurricane Ida damaged a Louisiana grain export elevator owned by global grain trader Cargill Inc. and disrupted export operations at the busiest bulk grain export facilities in the United States on Monday.
Posted: Aug 30, 2021
Fitch Ratings Inc. said in a note Monday that preliminary estimates show a potential insurance industry loss from Hurricane Ida of $15 billion to $25 billion, which would be well below the record $65 billion in insured losses from Hurricane Katrina i...
Posted: Aug 30, 2021
At least one person has died and power is out across Louisiana and Mississippi on Monday as officials warned residents against venturing out on roads littered with downed power lines and debris from Ida, which remains a powerful storm.
Posted: Aug 30, 2021
Heavy rainfall have caused severe flooding in the Indian states of Bihar and Assam, affecting more than three million people.
Posted: Aug 30, 2021
Falling water levels in the Paraguay River due to low rainfall has forced the ships to slash their cargo capacity by half, threatening the trade of agricultural commodities in Paraguay.
Posted: Aug 30, 2021
Data from the Indonesian General Insurance Association showed that local insurers’ total premium income rose 2% year-on-year to 38.4 trillion Indonesian rupiah ($2.7 billion) in the first half of the year, driven by the property insurance segment.
Posted: Aug 30, 2021
The People's Insurance Company (Group) of China Ltd.’s net profit rose 34% year-on-year to almost 17 billion Chinese yuan ($2.6 billion) in the first half of the year.
Posted: Aug 30, 2021
German automaker Daimler AG will temporarily suspend production at its Mercedes-Benz factories in Kecskemet, Hungary and in Bremen and Rastatt in Germany this week due to the semiconductor chips shortage.
Posted: Aug 30, 2021
The ongoing global supply chain disruptions are adversely affecting small businesses in Europe that rely on imports and exports.
Posted: Aug 30, 2021
Data from the South Korean Financial Supervisory Service showed that local insurers’ total net income jumped 50% year-on-year to 5.7 trillion South Korean won ($4.9 billion) in the first half of the year.
Posted: Aug 30, 2021
Scottish police and security experts have issued warning for possible cyber attacks on the infrastructure of Glasgow – the venue for the 2021 United Nations Climate Change Conference.
Posted: Aug 30, 2021
Ohio Gov. Mike DeWine requested that the board of directors for the Bureau of Workers’ Compensation expand a 2020 dividend to include about 3,000 employers that did not meet eligibility requirements last year.
Posted: Aug 30, 2021
Willis Towers Watson PLC on Monday named Andrew Krasner as its chief financial officer, succeeding Mike Burwell who is leaving the company.
Posted: Aug 30, 2021
Hurricane Ida pummeled U.S. Gulf Coast energy suppliers, knocking out most of the region's offshore wells, nearly half its motor fuel production and closing energy-export ports.
Posted: Aug 30, 2021
A Chicago judge ruled in favor of a Wisconsin insurer in 17 separate COVID-19-related business interruption cases this week.
Posted: Aug 27, 2021
The Roman Catholic Diocese of Brooklyn has filed suit against the runoff operation of Royal & SunAlliance USA Inc. and its directors and officers in state court in North Carolina.
Posted: Aug 27, 2021
A Texas appeals court on Wednesday denied employer negligence in a personal injury case involving four workers in a single-vehicle accident, finding that four plaintiffs were not on duty at the time of the accident.
Posted: Aug 27, 2021
Brown & Brown of Massachusetts LLC, a subsidiary of Brown & Brown Inc., has agreed to acquire Berkshire Insurance Group Inc., the insurance agency unit of Boston-based Berkshire Hills Bancorp Inc.
Posted: Aug 27, 2021
Allied World Assurance Co. Ltd. and Zurich Insurance Corp. N.A. units are not obligated to indemnify a hospital system and physician under their excess medical malpractice policies for the birth of a girl who suffers from cerebral palsy and other iss...
Posted: Aug 27, 2021
The Virginia Supreme Court on Thursday ruled that the injuries suffered by a police officer who claimed he was injured while acting the role of a suspect in a training exercise are compensable, despite the officer not being able to pinpoint the exact...
Posted: Aug 27, 2021
The extended deadline to submit nominations for Business Insurance’s 2021 Women to Watch Awards is 11:59 p.m. Central on Sept. 2.
Posted: Aug 27, 2021
A Swiss Re Institute found there is a $60 billion protection gap in Asia, driven by losses from natural catastrophes.
Posted: Aug 27, 2021