Business Insurance
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
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
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 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
New York-based Jackson Lewis PC on Thursday announced an online data tool that helps users track state-by-state legal filings and spot trends in COVID-19-related worker/employer litigation.
Posted: Nov 19, 2020
Marsh, a business unit of Marsh & McLennan Cos., has promoted Hamish Roberts to global renewable energy leader of Marsh JLT Specialty, effective Jan. 1.
Posted: Nov 19, 2020
On the music-video app Triller anybody can be Tom Petty, Madonna or Neil Young.
Posted: Nov 19, 2020
Business interruption (BI) losses accounted for 60% of cyber insurance claims in the past five years, according to a report published Thursday by Allianz Global Corporate & Specialty SE (AGCS).
Posted: Nov 19, 2020
Hub International Ltd. has acquired the assets of United Shortline Insurance Services Inc., Chicago-based Hub said in a statement Thursday.
Posted: Nov 19, 2020
Typhoon Ulysses, which struck the Philippines in early November, caused infrastructural damage worth 6.1 billion Philippine pesos ($126.61 million).
Posted: Nov 19, 2020
Low-cost carrier AirAsia Japan Co. Ltd. has filed for bankruptcy in Tokyo due to the challenging conditions created by the COVID-19 pandemic-induced travel restrictions.
Posted: Nov 19, 2020
Cayman Islands-based Caribbean Catastrophe Risk Insurance Facility SPC will pay $10.7 million to Nicaragua following heavy damages from Hurricane Eta.
Posted: Nov 19, 2020
Insurers in Kuwait reported 2.6% year-over-year decline in combined profits to 31.8 million Kuwaiti dinar ($104 million) in the first three quarters of the year.
Posted: Nov 19, 2020
Turkey-based insurer Turkiye Sigorta AS has agreed to insure state-owned satellite operator Türksat AS’ three operating satellites for 2.23 billion Turkish lira ($280 million).
Posted: Nov 19, 2020