Business Insurance
Captive owners need to build long-term relationships with reinsurers that can endure through hard and soft markets, panelists said Wednesday at the Vermont Captive Insurance Association’s 2023 annual conference.
Posted: Aug 09, 2023
Data from the National Bank of Slovakia showed that the local insurance market expanded by 14% year-on-year to €579.2 million ($625.1 million) in the first quarter of this year, Xprimm reported. Meanwhile, local non-life insurers’ gross written premi...
Posted: Aug 09, 2023
China’s National Financial Regulatory Administration said that insurer have received 5.3 billion Chinese yuan ($782 million) worth of claims for floods and disasters triggered by recent extreme rainfall, Asia Insurance Review reported citing Xinhua....
Posted: Aug 09, 2023
U.K.-based insurer MS Amlin Ltd.’s net premiums written increased by 40% year-on-year to £1.96 billion ($2.36 billion) in the first quarter of this year, Reinsurance News reported. The Lloyd’s insurer and reinsurer reported a net income of £7 million...
Posted: Aug 09, 2023
Japanese insurer Tokio Marine Holdings Inc.’s international division saw a 37.2% year-on-year increase in profit to 91.7 billion Japanese yen ($640.3 million) in its fiscal first quarter ended June 30, Reinsurance News reported. The insurer’s interna...
Posted: Aug 09, 2023
The mother of an Arby’s worker who was murdered by a coworker at a restaurant in Hickory Hills, Illinois, in 2017 can’t sue the franchisees, as workers compensation is the exclusive remedy, an Illinois appeals court ruled Tuesday.
Posted: Aug 09, 2023
An insurance company auditor is not owed workers comps benefits for an alleged stress-related incident that resulted a stay in intensive care, a New York appeals court ruled last week upholding lower court rulings.
Posted: Aug 09, 2023
Mulberri, an artificial intelligence insurance platform that focuses on small and medium-sized companies, said Wednesday it is introducing a cyber insurance managing general agency, with policy limits of $250,000 and $500,000.
Posted: Aug 09, 2023
Global insured losses from natural catastrophes rose to $50 billion in the first half of 2023, driven by claims in the United States after a series of thunderstorms, a report from reinsurer Swiss Reinsurance Co. Ltd. Wednesday showed.
Posted: Aug 09, 2023
United Educators Insurance on Wednesday named Richard G. Mills Jr., Dartmouth College’s executive vice president for administration, as its next president and CEO, effective Sept. 1.
Posted: Aug 09, 2023
Worker safety advocates and attorneys representing employers have mixed reactions to recently announced federal heat safety measures for workers.
Posted: Aug 09, 2023
Embattled insurtech Vesttoo Ltd. said late Tuesday it will liquidate its collateralized insurer in Bermuda Vesttoo Alpha P&C Ltd., but it will continue to operate branches in New York, London and other territories.
Posted: Aug 08, 2023
Tom Reagan, cyber practice leader, U.S. and Canada, at Marsh, details new SEC disclosure requirements for cyber breaches and what the big changes will mean for corporations.
Posted: Aug 08, 2023
Liberty Mutual Insurance Co. said Tuesday that Amy Gross and Nikki Lankford have been promoted within the insurer’s global risk solutions North America business.
Posted: Aug 08, 2023
A new report from the Department of Health Policy at Vanderbilt University Medical Center concludes that many individuals with opioid use disorder are not receiving proper medical treatment for dependency.
Posted: Aug 08, 2023
U.S.-based insurers have invested hundreds of billions of dollars in fossil fuel-related assets that in turn contribute to the risk of climate-related damage to the underwriting side of their businesses, a new report said Tuesday.
Posted: Aug 08, 2023
Average annual premium renewal pricing increased in most lines of commercial insurance coverage last month, but the pace of rate hikes slackened in several areas, according to a report Tuesday from Ivans Insurance Services, a unit of Applied Systems...
Posted: Aug 08, 2023
Cheesy and stacked burgers advertised by a YouTube star, created in “ghost kitchens” where the maker is unknown virtually and varies, perhaps giving existing restaurants an opportunity to craft the burgers, and then delivered to customers in unbrande...
Posted: Aug 08, 2023
A federal appeals court Monday reinstated a putative class action against a hand wipes company, ruling the plaintiff had successfully alleged that the company’s claims could mislead the general public.
Posted: Aug 08, 2023
(Reuters) – Bermuda on Tuesday took steps toward adopting a corporate income tax as part of a move alongside nearly 140 other countries to overhaul tax regimes to deter large multinational companies from booking profits in the lowest-tax nations.
Posted: Aug 08, 2023
Risk managers and captive owners need to communicate the value of their captive insurance programs, especially in a hard market and difficult economy, experts say.
Posted: Aug 08, 2023
A federal judge in Texas has ordered three senior lawyers at Southwest Airlines Co. to attend “religious liberty training” conducted by a prominent conservative Christian legal rights group, saying they undermined an earlier ruling in a flight attend...
Posted: Aug 08, 2023
Ngozi Ola-Israel, chief financial officer at Nigeria-based Axa Mansard Insurance Plc, said that the company’s insurance revenue grew 12% year-on-year to 39 billion Nigerian naira ($50.58 million) in the first half of the year, Business Day Nigeria re...
Posted: Aug 08, 2023
Norwegian protection and indemnity insurance company Hydor AS has acquired Singapore- and Rotterdam-based fixed premium P&I solutions provider EF Marine Pte. Ltd., Splash 247 reported. The combined firm will be branded as Hydor, with a total team of...
Posted: Aug 08, 2023
Kuwait Reinsurance Co. KSCP's net income after tax and zakat increased by 15.4% year-on-year to 4.87 million Kuwaiti dinar ($15.79 million) in the first half of this year, Middle East Insurance Review reported. Gross written premium grew by 24% year-...
Posted: Aug 08, 2023