Business Insurance
A report by U.S.-based Fitch Ratings Inc. said that several countries in the Asia Pacific region are developing cyber security regulations to encourage corporations to improve their cyber resilience and reduce potential losses, which should create op...
Posted: Aug 23, 2021
German insurer R + V Versicherung AG has received 14,000 claims worth €470 million ($553 million) for damage caused by Storm Bernd that struck Germany between July 13 and 18.
Posted: Aug 23, 2021
Hurricane Grace made a second landfall in Mexico in the Veracruz state on Aug. 21 as a Category 3 hurricane, bringing torrential rains and winds that caused severe flooding, mudslides and power outages.
Posted: Aug 23, 2021
Ongoing shortages of semiconductor chips and other components due to COVID-19 and supply chain disruptions is forcing Japanese automakers Mazda Motor Corp. and Daihatsu Motor Co. Ltd. to halt production across multiple factories.
Posted: Aug 23, 2021
Analysts at investment banking firm Jefferies International Ltd. estimate that global insured and reinsured catastrophe losses from severe weather events are already running 41% above the long-term average after July.
Posted: Aug 23, 2021
The U.S. Food and Drug Administration on Monday gave full approval to the COVID-19 vaccine made by Pfizer Inc. and German partner BioNTech SE for use in people over the age of 16.
Posted: Aug 23, 2021
The Insurance Federation of Egypt recommends local insurers monitor the global space and satellite insurance developments to improve the local market capabilities.
Posted: Aug 23, 2021
U.S. sanctions on the controversial Nord Stream 2 gas pipeline between Russia and Germany is making it difficult for the project operator to obtain insurance and certification for the project, which is almost 99% complete.
Posted: Aug 23, 2021
Willis Towers Watson PLC has promoted Kate Mead to head of its Canadian property/casualty broking team.
Posted: Aug 20, 2021
PCF Insurance Services Inc. made three acquisitions during the week, the brokerage announced.
Posted: Aug 20, 2021
Chinese regulators are considering pressing data-rich companies to hand over management and supervision of their data to third-party firms if they want U.S. stock listings, sources said, as part of Beijing’s unprecedented scrutiny of private sector f...
Posted: Aug 20, 2021
The Occupational Safety and Health Administration on Wednesday announced $1.3 million in fines to “serial violator” Atlantic Coast Utilities LLC/Advanced Utilities Inc., which the agency says caused the deaths of two workers at a dig site in Boston i...
Posted: Aug 20, 2021
A celebrity choreographer wants to make sure people stealing dance moves from TikTok performers can’t touch this.
Posted: Aug 20, 2021
Willis Towers Watson CEO John Haley’s successor is now known, as insider Carl Hess has been tapped to take the brokerage’s helm on Jan. 1, 2022.
Posted: Aug 20, 2021
T-Mobile US Inc. said on Friday hackers had accessed personal data of another 5.3 million wireless customers, widening the extent of a breach that has affected millions of current, former and prospective customers.
Posted: Aug 20, 2021
Czech Republic-based insurance broker Renomia a.s. has acquired a 30% share in the Croatian brokerage Fortius Inter Partes Ltd.
Posted: Aug 20, 2021
The U.S. National Hurricane Center said that Category 1 Hurricane Grace made landfall in Mexico’s Yucatan Peninsula on Aug. 19, forcing the temporary suspension of businesses, flights and cruise ships.
Posted: Aug 20, 2021
Slovenian insurer Zavarovalnica Triglav d.d.'s consolidated net profit rose 40% year-on-year to €47 million ($55 million) in the first half of the year.
Posted: Aug 20, 2021
The Swedish Meteorological and Hydrological Institute said that heavy rains on Aug. 18 caused severe flash floods across the Dalarna and Gavleborg counties in Sweden.
Posted: Aug 20, 2021
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