Business Insurance
South Korea-based insurer Samsung Fire & Marine Insurance Co. Ltd.’s net profit jumped 72% year-on-year to almost 744 billion South Korean won ($649.3 million) in the first half.
Posted: Aug 12, 2021
How many elephants does it take to do some $771,000 in property damage? Roughly 14, judging by the months-long trek of a wayward band of pachyderms now on their way home to a preserve in China.
Posted: Aug 11, 2021
A federal appeals court overturned a lower court Tuesday and ruled a Federal Express Corp. worker is entitled to be paid for his military reserve leave.
Posted: Aug 11, 2021
Alliant Insurance Services Inc. said Wednesday it has hired Rick Ulmer, former president and CEO of McGriff, the commercial insurance brokerage unit of Truist Insurance Holdings Inc.
Posted: Aug 11, 2021
Flying taxi developer Archer Aviation is seeking $1 billion in damages from Wisk Aero, a rival backed by Boeing and Google co-founder Larry Page's Kitty Hawk Corp., according to a court filing.
Posted: Aug 11, 2021
Lockton Re, the reinsurance business of Lockton Cos. LLC, said Wednesday it has partnered with Bermuda-based Nephila Holdings Ltd. to launch Lockton Re SageLink Automated Placement Solutions, an automated reinsurance quoting system.
Posted: Aug 11, 2021
Adrian Cox, CEO at U.K.-based specialty insurer Beazley PLC, said that the insurer is open to sourcing third-party capital via Lloyd’s new London Bridge Risk PCC insurance-linked securities structure.
Posted: Aug 11, 2021
Heavy rains and floods in the Chinese province of Sichuan since July 6 have caused an estimated 250 million Chinese yuan ($38.6 million) in economic losses.
Posted: Aug 11, 2021
The Supreme Court of India has anti-trust investigations into Amazon and Walmart Inc.’s Indian e-commerce subsidiary Flipkart.
Posted: Aug 11, 2021
Insurance broker Aston Lark Ltd. has acquired U.K.-based Essex Insurance Brokers Ltd., which specializes in film and visual arts insurance.
Posted: Aug 11, 2021
Japanese insurer Tokio Marine Holdings Inc.’s international operations saw 213% year-on-year growth in total profits to $526 million in the fiscal first quarter ended June 30, 2021.
Posted: Aug 11, 2021
Insurance Australia Group Ltd. reported a net loss of 427 million Australian ($313.8 million) in the fiscal year ended June 30, 2021, after posting a profit of AUD435 million in the year-ago period.
Posted: Aug 11, 2021
German insurer Provinzial Holding AG estimates €761 million ($895 million) in loss exposure from the severe rainfall and floods caused by Storm Bernd in Germany in July.
Posted: Aug 11, 2021
Long-term health issues following a COVID-19 diagnosis will likely affect the workers compensation industry indefinitely now it is considered a disability by the federal government, experts say.
Posted: Aug 11, 2021
Chris Williams, employment practices liability product manager at Travelers, discusses how the pandemic changed EPLI risks and what risks employers should consider as staff return to the workplace.
Posted: Aug 11, 2021
A federal judge on Tuesday dismissed Amazon.com Inc.'s lawsuit to block New York's attorney general from investigating the online retailer's ability to protect warehouse workers from COVID-19.
Posted: Aug 11, 2021
Aon PLC announced Wednesday that former Willis Towers Watson PLC broking chief Joe Peiser will join the brokerage as commercial risk leader for North America.
Posted: Aug 11, 2021
The International Finance Corp. has bought a stake in Vietnamese insurer PVI Holdings from German insurer HDI Global SE as they look to strengthen PVI’s industrial and commercial insurance portfolio.
Posted: Aug 11, 2021
Severe floods that devastated much of the public infrastructure, commercial buildings and houses in parts of Oman in July have rekindled calls for the establishment of a national catastrophe fund and insurance pool.
Posted: Aug 11, 2021
Skyward Specialty Insurance Group Inc. said Tuesday it has named Jim Mormile, formerly senior vice president at QBE North America, as senior vice president and head of professional lines.
Posted: Aug 10, 2021
Managing general underwriter McGowan Cos., based in Fairview Park, Ohio, said Tuesday it has acquired the assets of Arbanas & Associates, which specializes in writing professional liability, including for accountants, lawyers and architects.
Posted: Aug 10, 2021
Business Insurance is seeking additional submissions for the publication’s “Brokers to Watch” ranking in October, which lists brokers on the cusp of the BI Top 100 ranking published in June.
Posted: Aug 10, 2021
The U.S. Securities and Exchange Commission said Tuesday it has awarded almost $6 million to two whistleblowers who provided information and assistance in separate enforcement proceedings.
Posted: Aug 10, 2021
Maine in June enacted legislation eliminating the distinction between telehealth services and telephonic services by medical providers, but the Maine Insurance Bureau last week issued a bulletin clarifying the new regulation.
Posted: Aug 10, 2021
A central Illinois grain-handling cooperative is facing $303,510 in fines after soybeans collapsed inside a bin and engulfed an employee up to the waist, the Occupational Safety and Health Administration said Monday.
Posted: Aug 10, 2021