Business Insurance
Ravi Menon, managing director of the Monetary Authority of Singapore, has suggested that Singapore and the Chinese municipality of Chongqing can work together on disaster risk insurance.
Posted: Nov 27, 2020
The German government and insurers are discussing a six-month extension of the COVID-19 credit insurance backstop.
Posted: Nov 26, 2020
France-based information technology company Sopra Steria Group SA expects a gross negative impact of up to €50 million ($59.3 million) on its operating margins from the recent ransomware attack.
Posted: Nov 26, 2020
U.K.-based marine insurer North of England P&I Association Ltd. plans a 10% general increase in protection and indemnity rates for the 2021/22 policy year.
Posted: Nov 26, 2020
A state attorney general has sued retailer Carrefour Brasil, a unit of French company Carrefour SA, for 200 million Brazilian real ($37.6 million) after a Black man was beaten to death at one of its stores by security guards.
Posted: Nov 26, 2020
Posted: Nov 26, 2020
The U.K. is considering making changes to Solvency II capital regulations for insurers as soon as the Brexit transition period culminates.
Posted: Nov 26, 2020
Malaysia’s Ministry of Health will close all 28 factories of Malaysia-based rubber glove manufacturer Top Glove Corp Bhd after 2,453 of its employees test positive for COVID-19.
Posted: Nov 26, 2020
South Korea's Fair Trade Commission has fined France-based naval engineering company Gaztransport & Technigaz SA 12.5 billion South Korean won ($11 million) for unfair market practices.
Posted: Nov 26, 2020
New York’s highest state court affirmed a lower court decision in favor of an American International Group Inc. unit, ruling it was not obligated to pay additional interest under its excess policy in a case in which the primary policy was voided.
Posted: Nov 25, 2020
The Nevada Supreme Court ruled an undocumented worker who continues to suffer from pain and mental trauma due to a workplace accident is entitled to permanent total disability, despite an insurance administrator’s insistence that he cannot work due t...
Posted: Nov 25, 2020
Injuries a man suffered in an assault by a co-worker are compensable, but his tort lawsuit is barred by the Virginia Workers Compensation Act, an appellate court ruled Tuesday.
Posted: Nov 25, 2020
Mauritius could file claims worth more than $10 billion from global reinsurers for the oil spill caused by the Japanese bulk carrier MV Wakashio, which ran aground on July 25.
Posted: Nov 25, 2020
A report by Lebanon's Insurance Control Commission showed that insurance claims worth 1.66 trillion Lebanese pounds ($1.1 billion) had been filed for damage caused by the Port of Beirut explosion through Nov. 6.
Posted: Nov 25, 2020
Hurricanes Eta and Iota have caused $743 million worth of damage in Nicaragua.
Posted: Nov 25, 2020
The Italian Data Protection Authority has fined telecommunications company Vodafone Italia SpA’s more than €12.25 million ($14.5 million) for violating the General Data Protection Regulation.
Posted: Nov 25, 2020
New Zealand-based Tower Insurance Ltd.’s after-tax profit dropped to $12.3 million New Zealand ($8.52 million) for the full year to Sept. 30 after a less-than-expected settlement with the Earthquake Commission.
Posted: Nov 25, 2020
Insurer Arch Insurance (UK) Ltd. has launched new terrorism insurance policy for small and medium-sized enterprises in the U.K.
Posted: Nov 25, 2020
Reinsurance rates are likely to rise in the double-digit percentage point range at key contract renewals in January, Denis Kessler, chairman and CEO of French reinsurer SCOR, said Wednesday.
Posted: Nov 25, 2020
Capital markets back majority of Germany-based reinsurer Hannover Re SE’s retrocession reinsurance sidecar facility K-Cessions, with about 80% of its aggregate retro supported by investors.
Posted: Nov 25, 2020
A federal appeals court has overturned a lower court ruling and held a former car dealership network worker’s hostile work environment and sexual harassment claims should be arbitrated, not litigated.
Posted: Nov 24, 2020
Posted: Nov 24, 2020
Home Depot Inc., the largest U.S. home improvement retailer, on Tuesday reached a $17.5 million settlement to resolve a multistate probe into a 2014 data breach where hackers accessed payment card data belonging to 40 million customers.
Posted: Nov 24, 2020
Purdue Pharma LP pleaded guilty to criminal charges over the handling of its addictive prescription painkiller OxyContin, capping a deal with federal prosecutors to resolve an investigation into the drugmaker's role in the U.S. opioid crisis.
Posted: Nov 24, 2020
A federal appeals court has affirmed a lower court ruling in favor of a Travelers Cos. Inc. unit in a dispute with a truck leasing company that focused on the attorney the insurer had hired.
Posted: Nov 24, 2020