Business Insurance
The U.S. Securities and Exchange Commission said Monday that Poloniex has agreed to pay roughly $10.4 million to settle charges of operating as an unlicensed cryptocurrency exchange.
Posted: Aug 09, 2021
Lockton Re, the reinsurance business of Lockton Cos. LLC, has recruited former Guy Carpenter & Co. LLC executive Rob McNamara as North American facultative leader.
Posted: Aug 09, 2021
Acrisure Re, the reinsurance division of Acrisure LLC, has hired former Guy Carpenter & Co. LLC executive Craig Darling to launch a Florida office.
Posted: Aug 09, 2021
India’s state-controlled reinsurer General Insurance Corporation of India has moved its Middle East and North Africa business from Dubai to the Indian state of Gujarat.
Posted: Aug 09, 2021
Kenya Reinsurance Corp. Ltd.’s net profits plunged 66% year-on-year in the first half of the year, as its loss ratio climbed after a 22% growth in insurance claims to 6.3 billion Kenyan shillings ($58 million).
Posted: Aug 09, 2021
Wildfires spreading in the Greek capital of Athens have forced evacuation of thousands of tourists and residents as the fires ravage businesses, homes and cars.
Posted: Aug 09, 2021
Insurance rate increases accelerated slightly in most lines in July, with only workers compensation prices decreasing, according to data from insurance exchange Ivans Insurance Services, a division of Tampa, Florida-based Applied Systems Inc.
Posted: Aug 09, 2021
Qatar Insurance Co. QSPC’s recorded a net profit of more than 342 million Qatari rial ($94 million) in the first half of the year, up from a loss of nearly QAR208 million in the year-ago comparable period.
Posted: Aug 09, 2021
China’s antitrust regulator is reportedly planning to fine food-delivery company Meituan Inc. roughly $1 billion for its alleged abuse of dominant market position.
Posted: Aug 09, 2021
Irish insurer FBD Holdings PLC now expects €183 million ($214 million) in gross claims and costs from the COVID-19 business interruption test case in 2021, up from the previous estimate of €150 million.
Posted: Aug 09, 2021
Global supply chains are feeling the impact of extreme weather conditions in China, as a heavy typhoon season strikes the country, severely affecting port and factory operations in Chinese industrial hubs.
Posted: Aug 09, 2021
German insurer Allianz SE expects to pay around €900 million ($1.1 billion) in gross claims from Storm Bernd, which caused catastrophic floods in Central Europe in July, especially in Germany.
Posted: Aug 09, 2021
The family of a counselor at an at-risk youth services facility who was murdered by a mentally unstable resident can’t sue the facility’s operator for negligence because the incident occurred during the course of the woman’s employment and thus falls...
Posted: Aug 09, 2021
Warren Buffett's Berkshire Hathaway Inc. said Saturday that many of its businesses are enjoying strong recoveries from the early depths of the coronavirus pandemic, fueling rebounds in profit and revenue.
Posted: Aug 09, 2021
Brookfield Asset Management Inc.'s Brookfield Reinsurance unit has agreed to buy insurer American National Group Inc. for about $5.1 billion in an all-cash deal, the companies said Monday.
Posted: Aug 09, 2021
A Pennsylvania state court has refused to dismiss a COVID-19-related business interruption suit filed by the New York Yankees’ Triple-A baseball team against CNA Financial Corp.
Posted: Aug 06, 2021
The Biden administration is examining what authority businesses have to mandate vaccines, a top U.S. official told Reuters on Friday, as it considers what more steps can be done to halt the spread of COVID-19.
Posted: Aug 06, 2021
Apple Inc. persuaded a federal judge to throw out a $308.5 million jury verdict it lost to a privately held licensing company for infringing a patent associated with digital rights management.
Posted: Aug 06, 2021
The U.S. Securities and Exchange Commission approved a proposal from stock exchange operator Nasdaq Inc. that requires its listed companies to have diverse boards or explain why they do not.
Posted: Aug 06, 2021
Marsh LLC announced Friday that it has recruited former Willis Towers Watson PLC executives John Atkinson and Michael Pokora to lead a newly formed senior housing and long-term care practice for the United States and Canada.
Posted: Aug 06, 2021
A Pennsylvania state appeals court has ruled that an employee who was terminated because of her medical marijuana use can sue her former employer under state law.
Posted: Aug 06, 2021
A New York judge has agreed to dismiss COVID-19-related business interruption litigation filed by a Dallas-based restaurant chain against a Swiss Re Ltd. unit.
Posted: Aug 06, 2021
Insurance-linked securities issuance totaled $5.614 billion across 19 transactions in the second quarter, nearly double the $2.813 billion issued in the year-earlier period, according to a report Friday from Aon PLC.
Posted: Aug 06, 2021
The Utah Supreme Court ruled Thursday that an independent medical examiner who gave his opinion on the condition of an injured worker cannot be sued by the worker because there was no physician-patient relationship established.
Posted: Aug 06, 2021
CNA Financial Corp. said Chief Operations Officer Michael Costonis would move to a new position at the insurer and it has recruited an executive from a reinsurer to replace him as operations leader.
Posted: Aug 06, 2021