Business Insurance
Heavy rainfall triggered mudslides and floods in the west Venezuelan state of Merida on Aug. 23, inundating businesses, buildings and streets and killing 13 people.
Posted: Aug 25, 2021
The workers compensation industry’s older claims management systems are holding back widespread adoption of newer technologies designed to improve communication with injured workers, experts say.
Posted: Aug 24, 2021
Willis Towers Watson PLC is pursuing poaching litigation against Lockton Cos. LLC and Alliant Insurance Services Inc. in federal courts in Florida and North Carolina, respectively.
Posted: Aug 24, 2021
Chubb Ltd. said Tuesday that Matt Booker has been promoted to head of its Westchester wholesale and excess unit’s property and inland marine practice, succeeding Bob Meyer, who has been appointed executive vice president, North America property.
Posted: Aug 24, 2021
A company that provides services to healthcare facilities will pay $6 million to settle charges of accounting and disclosure violations that enabled it to report earnings per share that met research analysts’ consensus estimates for multiple quarters...
Posted: Aug 24, 2021
The White House is hosting an event on Wednesday that will bring together America's largest technology companies for a discussion about cybersecurity challenges following a raft of high-profile hacking incidents earlier this year, people familiar wit...
Posted: Aug 24, 2021
A federal appeals court Monday affirmed an arbitration award in favor of Lloyd's of London in a reinsurance dispute with CNA Financial Corp. units, stating it might have ruled otherwise, but is constrained by federal arbitration law.
Posted: Aug 24, 2021
Worldwide insurance merger and acquisition activity slipped slightly in the first half of 2021 with 197 deals compared with 201 for the same period last year, according to a report released Tuesday from law firm Clyde & Co.
Posted: Aug 24, 2021
Commercial insurance prices moderated across all account sizes with an average increase of 8.3%, but cyber saw a premium hike of 25.5%, according to The Council of Insurance Agents & Brokers’ second-quarter Commercial P/C Market Survey released Tuesd...
Posted: Aug 24, 2021
Typhoon Omais made landfall in South Korea on Aug. 23, causing heavy rains and flash floods that inundated roads and buildings and forced the evacuation of more than 10,000 people in the southern region of the country.
Posted: Aug 24, 2021
Analysts at Canadian investment banking firm RBC Capital Markets LLC said that foreign insurers have enjoyed stronger growth in China than local insurers who have seen volumes stagnate.
Posted: Aug 24, 2021
Catastrophe modeler Risk Management Solutions Inc. estimates €6.5 billion ($7.7 billion) in insured and reinsured losses from the devastating floods that ravaged Europe in July.
Posted: Aug 24, 2021
The judge overseeing Purdue Pharma’s bankruptcy said on Monday that some members of the Sackler family who own the OxyContin maker face a “substantial risk” of liability and could be on the hook for “huge amounts of money” over claims the company fue...
Posted: Aug 24, 2021
At least six U.S. states, including Georgia, did not fully sign on to a proposed $26 billion settlement with three drug distributors and Johnson & Johnson, which have been accused of fueling the nation's opioid epidemic, according to the states' atto...
Posted: Aug 24, 2021
The U.S. Securities and Exchange Commission will seek input on whether digital customer engagement innovations used by financial firms should be governed by existing rules or may need new ones, commission chair Gary Gensler told Reuters.
Posted: Aug 24, 2021
What’s to become of the pets when the pandemic wanes? According to survey results released Tuesday, there’s much to bark about.
Posted: Aug 24, 2021
New issuance of catastrophe bonds hit a record $8.5 billion in the first half of 2021, driven by additional capital inflows into the sector and new sponsors drawn to the fresh capital.
Posted: Aug 24, 2021
South Africa's only insurer covering political violence will increase its premiums to cover a rise in reinsurance costs following some of the worst unrest in decades, the head of the state-owned company told Reuters.
Posted: Aug 24, 2021
Supply chain disruptions have hit McDonald's Corp. which has ran out of bottled drinks and milkshakes across its locations in England, Scotland and Wales.
Posted: Aug 24, 2021
The consolidated profit of 28 listed insurers in the U.A.E. rose 25% year-on-year to 1.15 billion United Arab Emirates dirhams ($313 million) in the first half of the year.
Posted: Aug 24, 2021
Jamal Asfour, chief executive of the Insurance Corporation of Afghanistan, said that the Afghan insurer will continue to operate despite the current political turmoil triggered by the Taliban’s takeover of Afghanistan.
Posted: Aug 24, 2021
Foot Locker Inc., Adidas AG and Buckle Inc. are joining the list of companies struggling to replenish their inventories due to large-scale factory lockdowns in Vietnam triggered by the recent surge in COVID-19 infections.
Posted: Aug 24, 2021
A report by Marsh LLC said that insurance rates in Australia continued to increase in the first half of the year.
Posted: Aug 24, 2021
EPIC Insurance Brokers and Consultants has recruited former Risk Strategies Co. executive Peter Marshall as managing principal, media services in its entertainment and sports practice.
Posted: Aug 23, 2021
A Connecticut Native American tribe can recover up to $2 million in COVID-19 business interruption losses and cleanup costs under its $1.6 billion in coverage, a state court has ruled.
Posted: Aug 23, 2021