Business Insurance
CNA Financial Corp. Monday reported second-quarter net income of $368.0 million, more than double the $151 million in the prior-year quarter, as catastrophe losses plummeted.
Posted: Aug 02, 2021
A California state court judge has refused to dismiss COVID-19 business interruption litigation filed by a national retailer against a Zurich Insurance Group Ltd. unit and other insurers.
Posted: Aug 02, 2021
A study published Friday in the U.S. Centers for Disease Control and Prevention’s Morbidity and Mortality Weekly Report found a correlation between such factors as income and education and vaccination rates among long-term care staff.
Posted: Aug 02, 2021
Amwins Group Inc. said Monday it has acquired National Truck Underwriting Managers Inc., a truck wholesaler that offers access to primary liability, physical damage and motor truck package policies.
Posted: Aug 02, 2021
Accounting firm Ernst & Young LLP, a partner and two former employees agreed to pay over $10 million to settle U.S. Securities and Exchange Commission charges they violated auditor independence rules, the agency said Monday.
Posted: Aug 02, 2021
Abbott Laboratories will pay $160 million to resolve claims that two of its units submitted false claims to Medicare by providing kickbacks to diabetes patients, including “free” or “no-cost” glucose monitors, the U.S. Department of Justice said.
Posted: Aug 02, 2021
Aon PLC clients are still facing directors and officers liability price increases but at a slower pace, according to a report released Monday.
Posted: Aug 02, 2021
China’s securities regulator said on Sunday it will seek closer cooperation with its U.S. counterpart and will support overseas listings, after U.S. regulators tightened disclosure for Chinese companies and voiced concern about Beijing’s regulatory a...
Posted: Aug 02, 2021
Professional services firm Aon PLC has updated its terrorism and political violence risk map for Saudi Arabia by adding strikes as one of the perils alongside war and terrorism.
Posted: Aug 02, 2021
Italy’s national fire service recorded more than 800 wildfires over the weekend, including a fire in the Italian city of Pescara on Aug. 1 that forced the evacuation of several beach resorts and homes.
Posted: Aug 02, 2021
U.K.-based insurer and reinsurer Brit Ltd.’s gross written premiums increased 14% year-on-year to $1.46 billion in the first half of the year.
Posted: Aug 02, 2021
Swiss Re Ltd.’s total net income reached $1 billion in the first half of the year, reflecting robust performance on the property and casualty insurance side amid diminishing impacts of the COVID-19 pandemic.
Posted: Aug 02, 2021
Luxembourg’s National Commission for Data Protection has fined Amazon Inc. €746 million ($887 million) for breaching European Union’s General Data Protection Regulation.
Posted: Aug 02, 2021
A report by ratings agency A.M. Best Co. Inc. said that Chinese nonlife insurers will be able to manage the high insured losses resulting from the record floods that struck China’s Henan province in July.
Posted: Aug 02, 2021
Shares of Allianz SE declined 7% on Monday after the German insurer said the U.S. Department of Justice had begun an investigation into losses at its fund management division.
Posted: Aug 02, 2021
An Illinois jury on Friday refused to hold Johnson & Johnson liable for a woman’s death from ovarian cancer, which her family blamed on decades of using its talc-based powders.
Posted: Aug 02, 2021
Zoom Video Communications Inc. agreed to pay $85 million and bolster its security practices to settle a lawsuit claiming it violated users’ privacy rights by sharing personal data with Facebook, Google and LinkedIn, and letting hackers disrupt Zoom m...
Posted: Aug 02, 2021
Axa posted a 180% surge in first-half net income on Monday as the French insurer rebounded from a spike in pandemic-related claims that led to a €1.5 billion ($1.8 billion) charge last year.
Posted: Aug 02, 2021
A Lake Charles, Louisiana, physician pleaded guilty Friday to federal fraud charges stemming from a profit-splitting arrangement with a company selling topical creams and patches to injured workers, the U.S. Department of Justice said.
Posted: Aug 02, 2021
The U.S. Department of Justice said Friday it is intervening in six complaints in whistleblower litigation alleging that members of the Kaiser Permanente consortium violated the False Claims Act by submitting inaccurate diagnosis codes for its Medica...
Posted: Jul 30, 2021
Who’s the villain now? Walt Disney Co., according to actress Scarlett Johansson, who filed a lawsuit Thursday against the film company.
Posted: Jul 30, 2021
The Biden administration on Thursday rescinded a Trump-era rule favored by employers that defined who should be considered a joint employer.
Posted: Jul 30, 2021
The U.S. Securities and Exchange Commission will not allow Chinese companies to raise money in the United States unless they fully explain their legal structures and disclose the risk of Beijing interfering in their businesses, the agency said Friday...
Posted: Jul 30, 2021
Arthur J. Gallagher & Co. on Friday said it has acquired Oakbrook, Illinois-based R.J. Riordan & Co.
Posted: Jul 30, 2021
PG&E Corp. said late on Thursday it disagreed with a Northern California prosecutor who said that criminal charges will be filed in last year’s Zogg Fire, arguing the California grid operator had already resolved civil claims with the affected county...
Posted: Jul 30, 2021