Business Insurance
An Iowa reinsurer must continue to represent a waste disposal company in a trademark infringement case where company officials who had been terminated from their previous employer are charged with starting a new firm, then falsely disparaging their f...
Posted: Nov 30, 2020
An appeals court in Louisiana on Wednesday denied a seafood processing company’s appeal of a ruling that it had to pay for compound cream to treat a worker suffering from pain, finding that there was no evidence to show that the cream was not appropr...
Posted: Nov 30, 2020
The U.S. property/casualty industry’s net underwriting income fell 86% in the first nine months of 2020, compared with the year-earlier period, to $600 million, as insurers reported COVID-19-related increases in underwriting expenses and dividends to...
Posted: Nov 30, 2020
New York Gov. Andrew Cuomo on Friday signed into law a bill that will require the state to create an advisory council that will identify evidence-based tools to track the trauma of COVID-19 on frontline workers.
Posted: Nov 30, 2020
Marsh, a unit of Marsh & McLennan Cos., has named former Aon PLC executive Carlos Quinteros to lead its Los Angeles Construction Center of Excellence.
Posted: Nov 30, 2020
Axa SA is selling its insurance operations in the Gulf region to Gulf Insurance Group for €225 million ($268.8 million) in cash.
Posted: Nov 30, 2020
California Insurance Commissioner Ricardo Lara lowered a pure premium rate filing proposed by the state’s ratings bureau and declined to add an additional adjustment for COVID-19, the commissioner announced in a statement Wednesday.
Posted: Nov 30, 2020
A New York man is suing the Dutch beer company Heineken NV for unspecified damages after discovering that the brand’s Tecate beer is from across the pond and not south of the border.
Posted: Nov 30, 2020
President-elect Joe Biden appointed David Michaels, former head of the U.S. Occupational Safety and Health Administration, to his Transition COVID-19 Advisory Board.
Posted: Nov 30, 2020
Swiss Re Ltd. will allow investors to access its natural catastrophe portfolio through the creation of an investment fund, the reinsurer said in a statement Monday.
Posted: Nov 30, 2020
North Korean hackers are suspected to have attempted a cyber attack on British pharmaceutical company AstraZeneca plc, which is developing COVID-19 vaccine.
Posted: Nov 30, 2020
Austria-based Vienna Insurance Group AG will acquire Dutch insurer Aegon NV’s insurance business in Hungary, Poland, Romania and Turkey for €830 million ($993 million).
Posted: Nov 30, 2020
Some insurance-linked securities funds have created reserves for potential exposure to COVID-19 pandemic-related business interruption losses from a few major European catastrophe reinsurance programs.
Posted: Nov 30, 2020
A survey by U.S.-based broker Lockton Cos. LLC has found that the post-Brexit supply chain preparations of 46% manufacturers in the U.K. were negatively affected by the COVID-19 pandemic.
Posted: Nov 30, 2020
Mount Ile Lewotolok volcano in East Nusa Tenggara, Indonesia, erupted on Nov. 29, spewing smoke and ash 2.5 miles into the sky.
Posted: Nov 30, 2020
A report by Aon Africa says that businesses in South Africa remain exposed to uninsured losses due to poor risk-preparedness despite increasing volatility.
Posted: Nov 30, 2020
Heavy rains caused flash flooding and landslides in the Italian island of Sardinia.
Posted: Nov 30, 2020
Insurers in Egypt have proposed the establishment of a pandemic risk pool.
Posted: Nov 30, 2020
Zurich Insurance Group AG’s effort to expand its property/casualty business through the acquisition of a MetLife Inc. unit leads this week’s Top 10, followed by a report indicating reinsurance markets may be heading into a multiyear hardening.
Posted: Nov 27, 2020
Analysts at U.K.-based investment banking firm Barclays PLC said that reinsurers would take the brunt of claims from a second wave of COVID-19 pandemic in Europe.
Posted: Nov 27, 2020
The High Court of England and Wales has approved Lloyd’s of London’s transfer of European Economic Area policies to its Belgium-based subsidiary Lloyd’s Insurance Company SA.
Posted: Nov 27, 2020
The European poultry industry is on alert as a highly contagious form of avian influenza spreads across Europe, raising fear of significant economic losses.
Posted: Nov 27, 2020
Stella Quimbo, Marikina City representative, said that the recent typhoons and the COVID-19 pandemic have caused an estimated 3.4 trillion ($70.5 billion) in economic losses to the Philippines.
Posted: Nov 27, 2020
The European Commission has fined Israel-based Teva Pharmaceutical Industries Ltd. and its American subsidiary more than €60 million ($71 million) for anti-competitive practices.
Posted: Nov 27, 2020
The South African municipality of Msunduzi has suffered an estimated 2.8 billion South African rand ($181.5 million) in damages from a hailstorm that battered the region on Nov. 18.
Posted: Nov 27, 2020