Business Insurance
U.K.-based insurance broker The Ardonagh Group Ltd.’s income rose more than 33% year-on-year to £443.2 million ($614.8 million) in the first half of the year as business recovers from the COVID-19 impacts.
Posted: Aug 20, 2021
Analysts at U.S.-based Moody’s Investors Service Inc. have warned that claims arising from heavy floods in Europe and China, an active hurricane season and civil unrest in South Africa are likely to dampen the profitability of the four largest Europe...
Posted: Aug 20, 2021
German insurer Wustenrot & Wurttembergische AG estimates €400 million ($470.5 million) in gross losses from the July floods in Germany, but expects its reinsurance program to reduce the net impact.
Posted: Aug 20, 2021
U.S.-based Fitch Ratings Inc. expects catastrophe bond issuances to accelerate in the Asian insurance-linked securities domiciles such as Singapore and Hong Kong in the medium term.
Posted: Aug 20, 2021
A federal appeals court overturned lower court rulings Wednesday and agreed with insurers that COVID-19 business interruption cases could be heard in federal district courts rather than state courts.
Posted: Aug 19, 2021
A Chubb Ltd. unit must advance defense costs under its management liability policy to a Chicago mortgage broker which was the subject of a federal government investigation, the Delaware Superior Court has ruled.
Posted: Aug 19, 2021
The U.S. Federal Communications Commission said late Wednesday it will investigate a data breach disclosed by T-Mobile US Inc. impacting more than 47 million current, former and prospective customers.
Posted: Aug 19, 2021
The Minnesota Supreme Court on Wednesday ruled a man who injured his ankle at work and has been on opioids to manage his pain for much of the time since then does not meet the legal parameters now in place to prevent long-term use of opioids, reversi...
Posted: Aug 19, 2021
The Texas Division of Workers’ Compensation is making it easier for prospective employers to inquire whether a job applicant has previous workers compensation claims by offering a streamlined way to access the information.
Posted: Aug 19, 2021
President Joe Biden said on Wednesday his administration will require employees at nursing homes to be vaccinated against COVID-19 as a condition of the facilities participating in the Medicare and Medicaid government health care programs.
Posted: Aug 19, 2021
There’s a beer called workers comp. No, really.
Posted: Aug 19, 2021
`Ahmed Alshehri, a financial analyst, said that the small size of local insurers and dependence on reinsurance mainly placed overseas are hurting Saudi Arabian insurance market’s profit goals.
Posted: Aug 19, 2021
Heavy rains and floods in the Indian state of Madhya Pradesh between July 31 and Aug. 6 caused an estimated 20 billion Indian rupees ($270 million) worth of damage to public and private properties.
Posted: Aug 19, 2021
Reinsurer Saudi Re for Cooperative Reinsurance Co.’s pre-tax net profit soared 88.8% year-on-year to 36.5 million Saudi Arabian riyals ($9.7 million) in the first half of the year, driven by an increase in net earned premiums and the shareholders’ ne...
Posted: Aug 19, 2021
U.K.-based insurance broker Aston Lark Ltd. has acquired Irish brokerage A.R. Brassington & Co. Ltd., which is a subsidiary of ARB Group.
Posted: Aug 19, 2021
Haiti is set to receive approximately $40 million in insurance payout from the Caribbean Catastrophe Risk Insurance Facility SPC after the 7.2-magnitude earthquake on Aug. 14 triggered its parametric insurance policy.
Posted: Aug 19, 2021
Austria-based insurer Vienna Insurance Group AG’s pre-tax profits rose 25% year-on-year to 251.4 million ($295.7 million) in the first half of the year.
Posted: Aug 19, 2021
A report by U.S.-based S&P Global Ratings Inc. said that severe rains and floods in China are eroding insurers’ profits, while exposing the low penetration of insurance in the country, lack of public awareness and outdated risk models.
Posted: Aug 19, 2021
Insurers are quietly gearing up for a potential ten-fold increase in sales to the booming $17.6 billion-a-year cannabis industry as Congress inches closer to legalizing pot at the federal level.
Posted: Aug 19, 2021
The German Insurance Association (GDV) expects Storm Bernd-related damage claims to reach the upper limit of its previously announced insured loss range of €4.5 billion to €5.5 billion ($6.5 billion).
Posted: Aug 19, 2021
The majority of COVID-19 claims continue to include only lost wages, or indemnity costs, with 73% of claims without associated medical costs, though the average indemnity cost of COVID-19 claims decreased by 43% since January, Mitchell International...
Posted: Aug 18, 2021
AssuredPartners Inc. said Tuesday it has acquired Baldwin Insurance Agency Inc. and Welsh & Parker Insurance Agency Inc. of Wayland, Massachusetts.
Posted: Aug 18, 2021
Forty-three percent of workers compensation claims management organizations in 2020 reported “no implementation of tools to improve injured worker communication,” despite past calls to improve communications with injured workers in the pandemic.
Posted: Aug 18, 2021
Cyber insurance buyers that don’t have necessary risk mitigation security controls in place could face higher rates, nonrenewals or declines by insurers, Amwins Group Inc. said in a report Wednesday.
Posted: Aug 18, 2021
Truist Financial Corp. Inc. said late Tuesday that John Howard, chairman and CEO of Truist Insurance Holdings, has been named to the Truist executive leadership team as chief insurance officer.
Posted: Aug 18, 2021