Business Insurance
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
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
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
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
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