Business Insurance
The China Banking and Insurance Regulatory Commission said that the insurers have already received more than 11 billion Chinese yuan ($1.7 billion) in damage claims for the recent floods that ravaged the central province Henan.
Posted: Aug 06, 2021
American International Group Inc. saw double-digit rate increases in numerous lines during the second quarter, including a nearly 40% increase in cyber liability insurance rates, the insurer’s top executive said Friday.
Posted: Aug 06, 2021
Oliver Baete, CEO of Germany's Allianz, on Friday spoke of a “horrible week” for him and the insurer, his first response to a disclosure that the U.S. Department of Justice was investigating losses at its fund division.
Posted: Aug 06, 2021
American International Group Inc. beat second-quarter profit estimates on Thursday, driven by strong performance in its general insurance and life and retirement units.
Posted: Aug 05, 2021
Two senior U.S. senators planned legislation on Thursday that would fight ransomware attacks on U.S. infrastructure by sanctioning countries the harbor cybercriminals and strengthening protections against attacks.
Posted: Aug 05, 2021
Britain launched a government-backed reinsurance scheme totaling more than £750 million pounds ($1 billion) on Thursday to cover live events against cancellation risk due to the COVID-19 pandemic, after intense industry lobbying.
Posted: Aug 05, 2021
(Reuters) — President Joe Biden's tougher regulatory stance on big corporate mergers has fueled a rise in investor bets on some deals not being completed, threatening to push the brakes on a record-setting dealmaking boom.
Posted: Aug 05, 2021
Cyber managing general underwriter Corvus Insurance Holdings Inc. said Thursday it has acquired Cambridge, Maryland-based SeQure Underwriters LLC, an insurtech managing general agency.
Posted: Aug 05, 2021
Liberty Mutual Holding Co. Inc. Thursday reported second-quarter net income of $769 million, compared with a net loss of $320 million in the year-earlier period.
Posted: Aug 05, 2021
A federal appeals court ruled Wednesday that U.S. law bars a Texas price cap on air ambulance fees related to the treatment of injured workers, disagreeing with the Texas Supreme Court’s ruling on the issue.
Posted: Aug 05, 2021
The U.S. Occupational Safety and Health Administration on Wednesday said it cited a medical facility and a temporary staffing agency for failing to ensure the safety and health of nurses giving flu shots and COVID-19 tests.
Posted: Aug 05, 2021
The government of Dominican Republic has decided to cull the entire population of pigs over the next five months to curb the spread of African swine fever.
Posted: Aug 05, 2021
General and life insurers subjected to stress tests in Australia in 2020 were found to be well-positioned to tackle very severe economic downturn while still meeting their commitments to policyholders.
Posted: Aug 05, 2021
Raging wildfires in Turkey reached the coal-fueled Kemerkoy power plant in the Mugla province on July 6, prompting evacuation of the power plant and nearby areas.
Posted: Aug 05, 2021
Australian competition watchdog has sued Mercedes-Benz AG for allegedly soft-pedaling the risks from defective Takata airbags used in its vehicles thereby exposing consumers to serious injury or death risks.
Posted: Aug 05, 2021
According to the Taiwan Insurance Institute, local nonlife insurers’ direct written premium income rose more than 6% year-on-year to $188 billion Taiwanese ($6.8 billion) in 2020, driven by increases in fire and automobile insurance.
Posted: Aug 05, 2021
Thai National Shippers' Council said that Thailand’s exports could take a 300 billion Thai baht ($9 billion) hit between August and December if the number of factory closures due to the fast-spreading COVID-19 doubles.
Posted: Aug 05, 2021
Finland-based insurer Sampo Oyj’s pretax profit jumped 74% year-on-year to €710 million ($843 million) in the second quarter.
Posted: Aug 05, 2021
Assaad Mirza, CEO of Lebanon-based Capital Insurance & Reinsurance Co. SAL, said that insurers have paid only $100 million of the estimated $1.1 billion in insured losses related to the Beirut Port blast after one year of the incident.
Posted: Aug 05, 2021
Mexico sued several gun makers in a U.S. federal court on Wednesday, accusing them of reckless business practices that supply what it called a “torrent” of illegal arms to violent Mexican drug cartels, leading to thousands of deaths.
Posted: Aug 05, 2021
Opioid prescription reduction is linked to worsened pain and depressed mood, according to a study released Tuesday by the University of California Davis School of Medicine and published in the Journal of the American Medical Association.
Posted: Aug 05, 2021
Alliant Insurance Services Inc. Thursday named a former Willis Towers Watson PLC broker as a senior vice president in its public entity insurance business, the brokerage’s third such announcement in the past week.
Posted: Aug 05, 2021
The Florida Department of Financial Services announced that the owner of a carpentry contracting firm has been charged with allegedly concealing payroll to avoid paying at least $365,000 in workers compensation premiums.
Posted: Aug 04, 2021
The insurance industry was the most frequent focus of ransomware attacks in the first half of this year, while the overall number of cyberattack incidents increased 125%, according to an Accenture PLC report released Wednesday.
Posted: Aug 04, 2021
The Occupational Safety and Health Administration on Monday released plans for two regional emphasis programs that will target the transportation tank cleaning industry in the Midwest and those facing confined space dangers in Texas, Oklahoma, Arkans...
Posted: Aug 04, 2021