Business Insurance
Ryan Pincus, 37, a vice president of cyber underwriting for Allied World Insurance Co., died in a shooting in San Francisco earlier this month, according to a San Francisco Police Department police report.
Posted: Aug 14, 2023
Liberty Global Transaction Solutions, a unit of Liberty Mutual Insurance Co., said Monday it has hired former Alliant Insurance Services Inc. executive Harry Ballan as head of tax for the Americas.
Posted: Aug 14, 2023
A federal judge on Thursday rejected Hewlett-Packard’s legal argument to dismiss a lawsuit claiming that it intentionally designed its all-in-one printers to be unable to scan or fax when they are low on ink so that it would eventually increase profi...
Posted: Aug 14, 2023
U.A.E.-based Abu Dhabi National Insurance Company P.S.C.'s net profit increased by 15.5% year-on-year to 204.4 million United Arab Emirates dirhams ($55.7 million) in the first six months of 2023, Middle East Insurance Review reported. Meanwhile, Abu...
Posted: Aug 14, 2023
Renate Vachenauer, head of procurement at German carmaker Audi AG, said that semiconductor shortages that have created bottlenecks for the country's car industry is still a problem and will take years to resolve, Silicon UK reported citing Augsburger...
Posted: Aug 14, 2023
Switzerland-based Zurich Insurance Group Ltd.’s property and casualty insurance revenue increased 10% year-on-year to $20.16 billion in the first half of this year, while business operating profit fell 5.5% to $2.24 billion, Reinsurance News reported...
Posted: Aug 14, 2023
China’s National Financial Regulatory Administration said that local insurance institutions have received 9.78 billion Chinese yuan ($1.35 billion) worth of claims for floods and geological disasters triggered by recent extreme rainfall in 16 regions...
Posted: Aug 14, 2023
Australia-based QBE Insurance Group Ltd.’s reinsurance recoveries increased by 174% year-on-year to $1.14 billion during the first six months of the year, Artemis reported. The insurer experienced catastrophe losses at an elevated level in the first...
Posted: Aug 14, 2023
Germany-based insurer Allianz SE's operating profit increased 7.1% year-on-year to €3.78 billion ($4.13 billion) in the second quarter, while net income grew 19% to €2.48 billion, Verdict reported. The property and casualty segment saw a 10.8% growth...
Posted: Aug 14, 2023
Hub International Ltd. said Friday that it was hit by a cyber breach late last year, and sensitive data related to some of its employees and customers was accessed.
Posted: Aug 11, 2023
An Illinois dental practice has been ordered to pay $20,000 in back wages to a dental assistant who was fired in retaliation for raising COVID-19-related workplace safety concerns with the U.S. Occupational Safety and Health Administration.
Posted: Aug 11, 2023
A U.S. cyber safety body will review issues relating to cloud-based identity and authentication infrastructure that will include an assessment of a recent Microsoft Corp. breach that led to the theft of emails from U.S. government agencies, the U.S....
Posted: Aug 11, 2023
A federal court judge late Thursday issued a temporary restraining order against reinsurance intermediary Vesttoo Ltd. freezing its assets in response to a petition by an Aon PLC unit that detailed some of the alleged fraud in transactions involving...
Posted: Aug 11, 2023
A company that provides English tutoring services to students in China has agreed to pay $356,000 to settle a U.S. Equal Employment Opportunity Commission lawsuit that charged it used application software to automatically reject older applicants.
Posted: Aug 11, 2023
A federal appeals court Friday reinstated two class actions filed against a Kansas City, Missouri, health care system in connection with its timekeeping, holding that more employees lost time than gained it under its rounding-off policy.
Posted: Aug 11, 2023
Australia-based insurer Suncorp Group Ltd. said that its aggregate reinsurance arrangement for the year ended June 30 was not triggered, despite around 130,000 natural hazard claims across Australia and New Zealand, Artemis reported. Suncorp exceeded...
Posted: Aug 11, 2023
Australia-based QBE Insurance Group Ltd.'s net profit after tax increased 733% year-on-year to $400 million in the first half of the year, primarily due to an investment income surge of $662 million, Reinsurance News reported. The insurer's gross wri...
Posted: Aug 11, 2023
Forecasters with the National Oceanic and Atmospheric Administration said Thursday the likelihood of an above-normal Atlantic hurricane season has increased to 60%, up from 30% in its May outlook.
Posted: Aug 11, 2023
Germany-based Munich Reinsurance Co.’s net profit fell 21.6% year-on-year to €2.43 billion ($2.67 billion) in the first half of the year due to higher unwinding-of-discount effects and elevated major losses, Artemis reported. The rise in natural cata...
Posted: Aug 11, 2023
Wildfires which hit parts of Maui and the Big Island of Hawaii on Aug. 8-10 have already killed more than 50 people and will likely cause economic damages into the billions of dollars, according to a report Friday from Aon Plc’s Impact Forecasting.
Posted: Aug 11, 2023
The U.S. Supreme Court Thursday agreed to hear a challenge by the Biden administration to the legality of OxyContin maker Purdue Pharma’s bankruptcy settlement, putting on hold a deal that would shield its wealthy Sackler family owners from lawsuits...
Posted: Aug 10, 2023
Markel Group Inc. unit Evanston Insurance Co. must pay under its umbrella coverage for a car accident, a federal appeals court ruled on Wednesday in a case that focused on a backdated policy.
Posted: Aug 10, 2023
A company does not have coverage for its owner’s death in an airplane crash because he did not have the required Federal Aviation Authority medical certification, even though the crash was apparently caused by a mechanical failure, a federal appeals...
Posted: Aug 10, 2023
Liberty Mutual Holding Co. reported a net loss of $585 million for the second quarter, compared with a $343 million loss in the same period last year, as natural catastrophe claims mounted.
Posted: Aug 10, 2023
Mergers and acquisitions in the insurance sector declined sharply in the first half of this year to 171 completed deals worldwide, down from 207 in the second half of 2022 and 242 in the first half of last year, according to a report Thursday from la...
Posted: Aug 10, 2023