Business Insurance
The California Labor Commissioner’s Office announced Tuesday that it has cited three chain grocery stores in Southern California for failing to provide or delaying supplemental paid sick leave or other benefits to 95 workers impacted by COVID-19.
Posted: Jul 28, 2021
Longtime insurance executive Rob Schimek discusses his new venture Bolttech and how insurtech developments can change the insurance buying process.
Posted: Jul 28, 2021
The White House on Tuesday praised the Justice Department’s successful effort to stop a $30 billion deal that would have created the world’s biggest insurance broker, saying the agency’s work was “robust enforcement of the antitrust laws.”
Posted: Jul 27, 2021
A federal district court in New York on Monday dismissed COVID-19 business interruption litigation filed by a New York health system against American International Group Inc. and Allianz SE units, stating the losses had not been caused by direct phys...
Posted: Jul 27, 2021
Commercial insurance prices increased an average of 15% globally in the second quarter, according to a report released Tuesday by Marsh LLC.
Posted: Jul 27, 2021
Average ransomware demands in the first half of 2021 almost tripled, to $1.2 million per claim from $444,489 for the comparable period a year ago, Coalition Inc. said Tuesday in a report.
Posted: Jul 27, 2021
Credit Suisse on Tuesday appointed Goldman Sachs partner David Wildermuth its new chief risk officer, as it seeks to turn the corner on the Archegos and Greensill scandals that have rocked Switzerland's second-biggest bank.
Posted: Jul 27, 2021
The company that produces the cable TV show “The Morning Show” has filed a COVID-19-related business interruption lawsuit against a Chubb Ltd. unit, charging breach of contract and bad faith.
Posted: Jul 27, 2021
The U.S. Department of Justice, in an opinion made public this week, stated that workplaces and other entities are not prohibited from requiring COVID-19 vaccinations for their workers.
Posted: Jul 27, 2021
Britain has eased rules for special purpose acquisition companies to attract more listings to London, just as global regulators have put a watch on SPACs, which may already be peaking in popularity.
Posted: Jul 27, 2021
The South Carolina Department of Labor, Licensing and Regulation said it will develop a general infectious diseases workplace safety standard to replace the federal Occupational Safety and Health emergency COVID-19 standard, which only applies to hea...
Posted: Jul 27, 2021
Automaker Kia Motors Corp. suspended operations at its Sohari plant in the South Korean province of Gyeonggi on July 25 after a COVID-19 outbreak that has affected dozens of its factory workers.
Posted: Jul 27, 2021
Cyber insurance startup At-Bay Inc. said Tuesday it raised $185 million at a $1.35 billion valuation to expand its business as many in the cyber industry face growing losses due to ransomware attacks.
Posted: Jul 27, 2021
Brown & Brown Inc. reported a 21.5% jump in revenue for the second quarter as businesses continued to reopen and the economy strengthened, but its top executive said the speed of recovery in the second half of the year would be tempered by various fa...
Posted: Jul 27, 2021
German insurance industry association GDV estimates that there will be up to €5.5 billion ($6.5 billion) in claims from storms that brought catastrophic flooding to parts of the country this month.
Posted: Jul 27, 2021
President Biden’s executive order earlier this month asking the Federal Trade Commission to ban or limit noncompete agreements, which put curbs on former employees who go to work for competitors, adds momentum to ongoing efforts on the issue, experts...
Posted: Jul 27, 2021
Ratings agency A.M. Best Co. Inc. said that the profitable underwriting performance of Japanese nonlife insurers amid the COVID-19 pandemic supports its “stable” outlook for the market segment.
Posted: Jul 27, 2021
A ransomware attack on the Greek city of Thessaloniki on July 22 forced the municipality to suspend all its services on July 23.
Posted: Jul 27, 2021
The Indian government is reportedly working on a new bill to change insurance laws to facilitate the privatization of one of the countries three unlisted general insurers.
Posted: Jul 27, 2021
U.K.-based insurance broker The Ardonagh Group Ltd. has launched a European division in Dublin, Ireland, as it looks to expand in Europe.
Posted: Jul 27, 2021
U.K.-based insurer Beazley PLC saw higher rates across all insurance lines in the first half of the year, especially cyber insurance driven, which was by an increase in ransomware incidents.
Posted: Jul 27, 2021
Chinese companies listed on U.S. stock exchanges must disclose the risks of the Chinese government interfering in their businesses as part of their regular reporting obligations, a top U.S. Securities and Exchange Commission official said on Monday.
Posted: Jul 26, 2021
“Long COVID" can be considered a disability under federal law, the federal Department of Health and Human Services and the Justice Department said Monday.
Posted: Jul 26, 2021
A federal appeals court Monday affirmed a lower court ruling in an FM Global unit’s favor in litigation over $1.47 billion in property and business interruption losses New York University claimed it was due as a result of 2012’s Superstorm Sandy.
Posted: Jul 26, 2021
California Gov. Gavin Newsom on Friday signed legislation that would entitle certain classes of workers to special benefits if they die or become disabled due to COVID-19.
Posted: Jul 26, 2021