Business Insurance
The Insurance Council of Australia said that policyholders have filed more than 6,700 claims worth $281 million Australian ($206.7 million) with insurers for damages caused by the Tropical Cyclone Seroja in Western Australia.
Posted: Sep 02, 2021
Marsh & McLennan Agency LLC, the middle-market agency subsidiary of Marsh, said Thursday it has acquired Grand Forks, North Dakota-based Vaaler Insurance Inc.
Posted: Sep 02, 2021
According to U.K.-based vacant property protection company VPS Holdings Ltd., organized criminal gangs are increasingly stealing construction materials and equipment which are becoming costlier amid the COVID-19 pandemic.
Posted: Sep 02, 2021
China Reinsurance (Group) Corp.’s net profit jumped almost 63% year-on-year to 4 billion Chinese yuan ($618.5 million) in the first half of the year.
Posted: Sep 02, 2021
French state-owned reinsurer Caisse Centrale de Reassurance SA’s gross premiums rose 14% year-over-year to €665 million ($782.15 million) in the first half of the year.
Posted: Sep 02, 2021
Aviation insurers are reluctant to insure commercial flights to Afghanistan amid heightened risks after the country’s takeover by the Taliban and the exit of U.S. troops.
Posted: Sep 02, 2021
Ryan Specialty Group Holdings Inc. reported nearly 30% organic revenue growth in the second quarter and expects strong full-year organic growth, the company’s top executives said in its inaugural earnings call as a public company on Wednesday.
Posted: Sep 01, 2021
Truist Insurance Holding Inc. named the senior leadership of its commercial brokerage McGriff on Wednesday following the departure of former president and CEO Rick Ulmer.
Posted: Sep 01, 2021
A U.S. judge said on Wednesday he would approve OxyContin maker Purdue Pharma LP’s bankruptcy reorganization plan, clearing a path to resolve thousands of opioid lawsuits and shielding the company's wealthy Sackler family owners from future opioid li...
Posted: Sep 01, 2021
A U.S. judge began delivering his ruling on Wednesday on OxyContin maker Purdue Pharma’s request to approve its bankruptcy reorganization plan that would shield the company’s Sackler family owners from future litigation over the opioid crisis.
Posted: Sep 01, 2021
MS Amlin AG’s CEO has stepped down as CEO of the global reinsurer while the chief financial officer of an Amlin unit is leaving the company.
Posted: Sep 01, 2021
Access to medical care had been limited through the pandemic as resources were preserved for the surge of COVID-19 patients, yet the pandemic had no impact on treatment time for injured workers.
Posted: Sep 01, 2021
Insured flood and wind losses from Hurricane Ida are estimated at between $14 billion and $21 billion, according to CoreLogic Inc.
Posted: Sep 01, 2021
The company that operates the bar that inspired the TV show “Cheers” has lost its lawsuit seeking COVID-19 business interruption coverage.
Posted: Sep 01, 2021
The U.S. Securities and Exchange Commission has opened a probe into electric vehicle maker Workhorse Group Inc., an early investor in Lordstown Motors Corp., the Wall Street Journal reported Wednesday.
Posted: Sep 01, 2021
Mosaic Insurance Holdings Inc. on Wednesday named former Hamilton Group executives Tim Glover chief underwriting officer and David White underwriting director.
Posted: Sep 01, 2021
American International Group Inc. has hired former Allianz SE executive Ciara Brady as chief underwriting officer, international casualty, effective Sept. 1.
Posted: Sep 01, 2021
An appeals court in Missouri on Tuesday ruled that two members of the state’s three-member labor commission failed to present medical evidence in denying a disabled and obese worker permanent total disability.
Posted: Sep 01, 2021
Managing general underwriter and program manager McGowan Cos. said Wednesday it has agreed to acquire Middletown, Connecticut-based habitational insurer MiddleOak and wholesale broker Dauntless Specialty Brokerage from Country Financial.
Posted: Sep 01, 2021
Massachusetts’ attorney general on Wednesday gave backers of a proposed ballot measure that would define drivers for app-based companies like Uber Technologies Inc. and Lyft Inc. as independent contractors rather than employees the green light to col...
Posted: Sep 01, 2021
Russian insurer Rosgosstrakh PJSC's gross written premium increased by more than 20% year-on-year to 60.5 billion Russian rubles ($826.4 million) in the first half of the year.
Posted: Sep 01, 2021
Japanese company Murata Manufacturing Co. Ltd. closed its Echizen, Japan-based plant until Aug. 31 after a cluster outbreak of COVID-19, thereby threatening the supplies of multilayer ceramic capacitors – a key component used in cars, smart phones an...
Posted: Sep 01, 2021
French insurer Groupama SA has acquired Croatian insurer OTP Osiguranje dd, effective Sept. 1.
Posted: Sep 01, 2021
Spanish insurer Mapfre SA has made the third insurance payout of $100 million to Colombian utility Empresas Publicas de Medellin for damage it suffered at its Ituango hydroelectric project in Antioquia town in April 2018.
Posted: Sep 01, 2021
Australian casino operator The Star Entertainment Group Ltd. has appealed the Australian Federal Court’s recent decision to reject its attempt to seek business interruption insurance payout from its insurers for COVID-19 lockdown-related losses.
Posted: Sep 01, 2021