Business Insurance
Data from Morocco’s Insurance and Social Insurance Supervisory Authority showed that local insurers’ total premiums increased by more than 12% year-on-year to 28.5 billion Moroccan dirhams ($3.2 billion) in the first half of the year.
Posted: Aug 25, 2021
The Cologne Institute for Economic Research said that German companies suffered an estimated €53 billion ($62 billion) in damage from cyberattacks as they transitioned to work from home arrangements in 2020.
Posted: Aug 25, 2021
The Indonesian government has launched a new disaster risk pooling facility with initial capacity of 7.3 trillion Indonesian rupiah ($500 million) to help cover the economic losses stemming from severe weather and other natural catastrophes.
Posted: Aug 25, 2021
Willis Towers Watson PLC said Wednesday it has entered an initial, non-binding agreement to acquire Leaderim, an insurance broking and consultancy business in Israel.
Posted: Aug 25, 2021
German train driver union’s second two-day strike from Aug. 23 is likely to disrupt supply chains of industrial and retail sectors, already suffering from COVID-19-triggered staff shortages and logjams at global container ports.
Posted: Aug 25, 2021
A significant rise in COVID-19 cases in Malaysia is threatening the semiconductor chip supply chains and intensifying the pressure on automakers − already forced to cut down productions due to the chip shortage.
Posted: Aug 25, 2021
Delta Air Lines told unvaccinated employees on Wednesday they will have to pay an additional $200 per month for their company-sponsored healthcare plan.
Posted: Aug 25, 2021
U.K.-based data insight and consultancy Insurance DataLab said that COVID-19 pandemic-triggered business interruption claims pushed Lloyd’s of London to a £2 billion ($2.8 billion) loss in 2020.
Posted: Aug 25, 2021
Formal U.S approval of the Pfizer Inc./BioNTech SE COVID-19 vaccine will make it nearly impossible to successfully challenge mandates by employers, legal experts said.
Posted: Aug 25, 2021
U.S. reinsurers reported $37.1 billion in net premiums in the first half of 2021, a 15.6% increase over the same period last year, according to a report from the Reinsurance Association of America released Wednesday.
Posted: Aug 25, 2021
The German insurance industry association GDV estimates that there will be around €7 billion ($8.22 billion) in claims from storms that brought catastrophic flooding to parts of the country last month, it said on Wednesday.
Posted: Aug 25, 2021
Peter Arkley, president of Alliant Specialty Group, discusses the outlook for the construction sector with the infrastructure bill pending in Congress, construction insurance pricing and how risk managers can navigate the current market.
Posted: Aug 25, 2021
U.K.-based insurance broker Howden Broking Group Ltd. has named Jeroen Everling as chief executive of its corporate business in the Netherlands.
Posted: Aug 25, 2021
Insured losses from Hurricane Henri, which hit the northeastern United States earlier this week, will be close to $155 million, catastrophe modeler Karen Clark & Co. said Wednesday.
Posted: Aug 25, 2021
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