Business Insurance
A report by the American Meteorology Society said that the 2020 North Indian Ocean cyclone season was the costliest either, with estimated total damage of $16 billion.
Posted: Aug 27, 2021
German insurers are backing a new climate change adaptation concept to tackle losses resulting from severe weather events.
Posted: Aug 27, 2021
A report by Sedgwick Claims Management Services Inc. said that the ongoing global semiconductor chip shortage could increase the risk of more vehicle recalls in Europe in the upcoming years.
Posted: Aug 27, 2021
Ping An Insurance (Group) Company of China Ltd.'s net profit dropped 15.5% year-on-year to 58 billion Chinese yuan ($8.94 billion) in the first half of the year.
Posted: Aug 27, 2021
Aon announced its second major leadership reorganization after calling off its deal to acquire rival Willis Towers Watson. Meanwhile, Willis has filed poaching litigation against Lockton Cos. and Alliant Insurance Services.
Posted: Aug 27, 2021
T-Mobile US Inc. said Friday it was confident there were no continuing risks to user data from a breach disclosed earlier this month that affected more than 53 million current, former and prospective customers.
Posted: Aug 27, 2021
Costs for pain-relieving creams for injured workers rose 10% from 2015 to 2019, despite the lack of approval from the Food and Drug Administration for most of the compound drugs, and a dearth of guidelines on use and efficacy, according to a study re...
Posted: Aug 27, 2021
Microsoft on Thursday warned thousands of its cloud computing customers, including some of the world's largest companies, that intruders could have the ability to read, change or even delete their main databases, according to a copy of the email and...
Posted: Aug 27, 2021
The legal tussle around special purpose acquisition companies intensified Friday as a group of U.S. law firms hit out against lawsuits last week that called for blank-check firms to be regulated as investment companies.
Posted: Aug 27, 2021
Peloton Interactive Inc. said on Friday U.S. regulators were investigating the company, adding to the exercise bike maker's woes as it deals with a backlash over reports of accidents involving its treadmills.
Posted: Aug 27, 2021
A Travelers Cos. Inc. unit is not obligated to pay an almost $3 million settlement between a Florida citrus grove owner and its manager based on an exclusion in the manager’s policy, an appellate court said Thursday, in affirming a lower court ruling...
Posted: Aug 26, 2021
Insurance executives who attended a White House meeting on cybersecurity Wednesday say the meeting was productive and left them more optimistic about businesses’ ability to tackle the issue.
Posted: Aug 26, 2021
A U.S. appeals court on Thursday threw out a $1.2 billion ruling against Gilead Sciences Inc., finding a patent on a cancer therapy it was accused of infringing was invalid, in a blow to rival Bristol Myers Squibb Co.
Posted: Aug 26, 2021
The lawyers whose action prompted billionaire investor William Ackman to make changes to his special purpose acquisition company are preparing to target dozens more such vehicles, according to people familiar with the matter.
Posted: Aug 26, 2021
Shirin Emami has been named acting superintendent of the New York State Department of Financial Services, a spokesman for the governor’s office confirmed Thursday.
Posted: Aug 26, 2021
Notting Hill Risk Retention Group LLC, based in Montgomery, Alabama, on Thursday launched a program providing professional and general liability coverage for long-term care facilities.
Posted: Aug 26, 2021
The California Division of Occupational Safety and Health has endorsed updated guidance from the California Department of Public Health advising employers and employees to wear masks indoors, regardless of vaccination status, as COVID-19 cases and ho...
Posted: Aug 26, 2021
German insurer Element Insurance AG has partnered with Israel-based IT downtime insurance provider Parametrix Insurance Services LLC to debut parametric cloud outage insurance.
Posted: Aug 26, 2021
Dutch insurer ASR Nederland NV estimates €30 million ($35.3 million) worth of insured damage claims from the severe floods that struck the Dutch province of Limburg in July.
Posted: Aug 26, 2021
U.K.-based insurance broker Howden Broking Group Ltd. is looking to expand the use of catastrophe bonds to cover humanitarian funds and other disaster relief efforts.
Posted: Aug 26, 2021
Chinese conglomerate Fosun International Ltd.’s insurance and reinsurance business recorded more than 9% year-on-year growth in revenue to 15.5 billion Chinese yuan ($2.4 billion) in the first half of the year.
Posted: Aug 26, 2021
Dutch insurer NN Group NV’s net profit more than doubled to €1.4 billion ($1.65 billion) in the first half of the year,
Posted: Aug 26, 2021
The U.S. Food and Drug Administration, busy in approvals for a vaccine in the deadly COVID-19 pandemic, took time this week to address the risk of the now-viral milk crate challenge.
Posted: Aug 26, 2021
The hacker who stole data of more than 53 million former and prospective customers of T-Mobile US Inc. said the wireless carrier's security was "awful," the Wall Street Journal reported on Thursday.
Posted: Aug 26, 2021
The U.S. Securities and Exchange Commission is investigating Deutsche Bank's asset manager DWS over how it used sustainable investing criteria to manage its assets, two people with knowledge of the matter said Thursday.
Posted: Aug 26, 2021