Business Insurance
A ransomware attack on Nov. 22 forced South Korea-based fashion and retail conglomerate E-Land Group to close half of its stores.
Posted: Nov 23, 2020
John Dacey, chief financial officer of Swiss Re Ltd., said that the reinsurer has significantly increased its use of alternative reinsurance capital sources in the past few years to better manage risks.
Posted: Nov 23, 2020
Slovenia-based insurer and reinsurer Sava Re dd reported 26.4% year-on-year growth in net profit to €47.6 million ($56.4 million) in the first three quarters of the year.
Posted: Nov 23, 2020
According to the Institute for Economics and Peace’s Global Peace Index, violence caused economic damage worth 145.3 billion South African rand ($9.42 billion) in South Africa in 2019.
Posted: Nov 23, 2020
Data from the Insurance Association of Turkey showed that insurers’ technical profits increased by 73% on a year-over-year basis to 13.9 billion Turkish lira ($1.8 billion) in the first three quarters of 2020.
Posted: Nov 23, 2020
Poland-based insurance broker Unilink SA is set to acquire Bulgaria-based I&G Insurance Brokers Ltd.
Posted: Nov 23, 2020
Data from Bulgaria's Financial Supervision Commission showed that non-life insurers’ gross written premiums increased by 1.5% to 1.63 billion Bulgarian levs ($987.98 million) in the first eight months of the year.
Posted: Nov 23, 2020
A Delaware court ruled Thursday that an Axa SA unit must defend a vacuum cleaner company in a patent infringement and false advertising lawsuit filed by a rival company that said it was the target of a smear campaign.
Posted: Nov 20, 2020
Reinsurance company Swiss Re said it was committed to a stable or increasing dividend as it confirmed its financial targets on Friday despite the coronavirus pandemic that has pressured the industry.
Posted: Nov 20, 2020
Johnson & Johnson has been ordered by a New York state judge to pay $120 million in damages to a Brooklyn woman and her husband, after she blamed her cancer on asbestos exposure from using the company's baby powder.
Posted: Nov 20, 2020
Switzerland’s Zurich Insurance Group AG is in advanced talks to acquire MetLife Inc.’s U.S. property/casualty car and home insurance unit for close to $4 billion, according to people familiar with the matter.
Posted: Nov 20, 2020
The Missouri Department of Commerce and Insurance recommended on Thursday a 1% increase in workers compensation insurance loss costs for 2021 — the first recommended increase in six years.
Posted: Nov 20, 2020
Australian property/casualty insurers’ potential payouts for business interruption claims following a test case ruling by the New South Wales Court of Appeal will be manageable, said S&P Global Ratings Inc.
Posted: Nov 20, 2020
Santam said Friday it will appeal a court ruling that found South Africa's largest non-life insurer liable to pay a client's claim related to the coronavirus lockdown.
Posted: Nov 20, 2020
A federal appeals court’s decision to uphold the firing of a Florida college teacher who denied the Sandy Hook school massacre took place has generated the most reader interest this week. Also of note: A federal court in Phoenix dismissed a COVID-19-...
Posted: Nov 20, 2020
A former Starbucks Corp. barista in New Jersey sued the coffee chain on Thursday, claiming she was fired illegally because she did not want to wear a “PRIDE” T-shirt, which she said conflicted with her religious beliefs.
Posted: Nov 20, 2020
Insurance Australia Group Ltd. is seeking $750 million Australian dollar ($545.70 million) in new equity after the insurers lost the COVID-19-related business interruption test case in Australia.
Posted: Nov 20, 2020
Production of Toyota Motor Corp.’s cars was suspended at two of Daihatsu Motor Co. Ltd.’s plants in Japan after a supplier factory fire caused shortage of necessary parts.
Posted: Nov 20, 2020
Rodrigo Duterte, president of the Philippines, has declared a state of calamity in Luzon, after the island was battered by three back-to-back typhoons.
Posted: Nov 20, 2020
The U.K.'s Competition and Markets Authority has fined price-comparison site Compare The Market Ltd. £17.9 million ($23.61 million) for violating competition law.
Posted: Nov 20, 2020
Employers Holdings Inc. has appointed Kathy Antonello president and CEO, the Reno, Nevada-based workers compensation insurer announced Thursday.
Posted: Nov 19, 2020
The Oregon Division of Workers Compensation on Wednesday proposed a rule that would change the processing of COVID-19-related workers compensation claims in the state.
Posted: Nov 19, 2020
Aon PLC said Thursday it has introduced a new product with an asset manager that will provide up to $70 million of alternative capital to protect insurers and reinsurers against systemic and catastrophic cyber events.
Posted: Nov 19, 2020
An Ohio lawmaker introduced legislation Wednesday that would provide disability coverage for first responders for post-traumatic stress disorder without an accompanying physical injury.
Posted: Nov 19, 2020
Hardening market conditions will continue throughout 2021, although property increases will begin to moderate by midyear, and umbrella and directors and officers liability rates will become more predictable by then, although rates will continue to cl...
Posted: Nov 19, 2020