Business Insurance
Rapid spread of the coronavirus Delta variant in China and stricter quarantine measures and lockdowns are disrupting air cargo operations, adding further pressure on the supply chain.
Posted: Aug 18, 2021
The U.K.’s Financial Conduct Authority said that local insurers have paid £946 million ($1.3 billion) in COVID-19 pandemic-related business interruption claims since the Supreme Court’s BI test case ruling in the favor of policyholders in January.
Posted: Aug 18, 2021
Ninety-nine percent of injured workers who were prescribed a common epilepsy drug did not have a documented diagnosis for one of the approved conditions per the Food and Drug Administration, according to a study released Tuesday linking the use of su...
Posted: Aug 17, 2021
Insurance brokerage Marsh and New York-based bank Citi said Tuesday they had collaborated on the placement of a risk mitigation structure on behalf of Gavi, the Vaccine Alliance, to cover the risk associated with governments self-funding their corona...
Posted: Aug 17, 2021
Stéphane Godier, regional head of Americas for Axa Climate, discusses parametric insurance coverage, how it can address risk management problems and how it is likely to develop.
Posted: Aug 17, 2021
The number of COVID-19 workers compensation claims filed in California in July increased 282% from June, according to a report from the California Workers’ Compensation Institute.
Posted: Aug 17, 2021
Insured losses are forecast to total about $250 million from the magnitude-7.2 earthquake that struck Haiti on Aug. 14, according to an analysis Tuesday from Boston-based catastrophe modeler Karen Clark & Co.
Posted: Aug 17, 2021
Insurer South African Special Risk Insurance Association SOC Ltd. has received 12 billion South African rand ($816 million) worth of damage claims related to the latest riots that erupted after the arrest of former South African president Jacob Zuma.
Posted: Aug 17, 2021
U.S.-based Fitch Ratings Inc. said that the European reinsurers’ premiums grew significantly in the first half of the year, driven by increased demand for cover and rise in property and casualty insurance rates.
Posted: Aug 17, 2021
Swiss Re Ltd. said Tuesday that CNA Financial Corp. executive Julie Stephenson will join the reinsurer in the United States as global head of casualty, succeeding Jason Richards who was named country president and CEO U.K. & Ireland.
Posted: Aug 17, 2021
Climate-driven events are prompting changes in commercial property insurance policy wordings and tighter terms and conditions as insurers try to manage an increase in the frequency and severity of natural catastrophe losses, brokers say.
Posted: Aug 17, 2021
Beazley PLC has recruited former Chubb Ltd. executive Patricia Kocsondy as head of U.S. cyber and technology.
Posted: Aug 17, 2021
Supercede Technology Ltd., a global reinsurance platform, said Tuesday it has hired Aydin Betez, former chief technology officer of Willis Re, as chief product officer.
Posted: Aug 17, 2021
Gulf of Guinea safety concerns along with poor roads and operational and infrastructural challenges at Nigerian seaports are forcing insurers to increase the cargo insurance premiums in Nigeria.
Posted: Aug 17, 2021
Data from the Croatian Insurance Bureau showed that the aggregate gross written premium of 15 Croatia-based insurers increased by more than 13% year-on-year to 6.4 billion Croatian kuna ($1 billion) in the first half of the year.
Posted: Aug 17, 2021
The European Commission has approved Vienna Insurance Group AG’s proposed acquisition of Dutch insurer Aegon NV's businesses in the Central and Eastern Europe.
Posted: Aug 17, 2021
Reinsurer General Insurance Corporation of India’s standalone net loss widened by more than 38% year-on-year to 7.7 billion Indian rupees ($103.8 million) in the fiscal first quarter ending June 30 due to huge underwriting losses.
Posted: Aug 17, 2021
Australia-based insurance broker Steadfast Group Ltd. has agreed to acquire Sydney-headquartered insurance broker Coverforce Holdings Pty Ltd. for about $302 million.
Posted: Aug 17, 2021
Dutch trade credit insurer Atradius NV said that it is back to providing coverage for the U.K. companies with the underwriting back to pre-COVID-19 levels.
Posted: Aug 17, 2021
The live music and entertainment industry of Australia is calling for a government-backed insurance program to support the sector, which is still reeling under the adverse impacts of the COVID-19 pandemic and resulting lockdowns, capacity restriction...
Posted: Aug 17, 2021
London-based Pearson PLC will pay $1 million to settle charges it misled investors about a 2018 cyber intrusion involving the theft of millions of student records, the U.S. Securities and Exchange Commission said Monday.
Posted: Aug 16, 2021
According to those tracking fraud trends, social media influencers selling fraud tips and guides online is the new black.
Posted: Aug 16, 2021
Zurich North America said Monday that Kelly Kinzer would take on the newly created role of head of construction, casualty, moving over from leading the insurer’s construction property business.
Posted: Aug 16, 2021
Russia has opened a criminal investigation into the Black Sea oil spill near the Russian port city of Novorossiisk.
Posted: Aug 16, 2021
Analysts at U.K.-based risk management firm Russell Group Ltd. said that the partial closure of China’s Ningbo-Zhoushan port threatens $172 billion worth of global trade and nearly $40 billion worth of integrated circuit board exports.
Posted: Aug 16, 2021