Business Insurance
Vermont’s captive regulator has sent a notice to captive managers and service providers in the state asking them if they have exposure to the fallout from insurtech Vesttoo Ltd.
Posted: Aug 10, 2023
Harvard University filed its claim in connection with its open admissions litigation too late to access its $15 million in excess coverage, a federal appeals court ruled Wednesday.
Posted: Aug 10, 2023
South Korean insurers' net income from overseas operations grew by 35% year-on-year to nearly $123 million in 2022, mainly due to premium income growth, Asia Insurance Review reported. For nonlife insurers, net income increased to $90 million from $7...
Posted: Aug 10, 2023
Australia-based insurer Suncorp Group Ltd.'s earnings increased 86% year-on-year to $1.25 billion Australian ($819 million) in the year ended June 30, supported by improved underlying margins and a significant turnaround in investment returns, Nasdaq...
Posted: Aug 10, 2023
German reinsurer Hannover Re SE’s net income grew by 17.8% year-on-year to €960 million ($1.05 billion) in the first half of the year as large losses within the property and casualty reinsurance segment fell within the budgeted expectations, Reinsura...
Posted: Aug 10, 2023
A Florida appeals court Wednesday vacated workers compensation benefits for a firefighter who suffered a thoracic aortic aneurysm he claimed was work-induced.
Posted: Aug 10, 2023
Lawmakers in New York are considering a bill that would extend the state’s disability provisions under workers compensation for COVID-19 sufferers and would allow workers to resubmit claims that were denied due to timing.
Posted: Aug 10, 2023
Lloyd’s of London underwriters are leading insurers in raising rates and cutting the amount of cover they offer for risks involving Taiwan as concerns grow over possible military action by China, industry sources with knowledge of the matter say.
Posted: Aug 10, 2023
Lawsuits filed by prospective, current or former employees against employers were essentially flat last year and the lowest of the past decade, according to a legal analysis company’s report.
Posted: Aug 10, 2023
BRP Group Inc., the parent company of brokerage Baldwin Risk Partners LLC, on Wednesday reported second quarter revenue of $297.2 million, up 28% compared with the same period last year and up 22% on an organic basis.
Posted: Aug 09, 2023
The proposed introduction of a corporate income tax by the government of Bermuda is “a modest but manageable negative” for insurers and reinsurers domiciled on the island, according to analysts at Keefe, Bruyette & Woods Inc.
Posted: Aug 09, 2023
The Appellate Court of Connecticut ruled Tuesday that a retired police officer was improperly awarded temporary total disability benefits because he had no intention of returning to the workforce at the time he filed for the additional benefits.
Posted: Aug 09, 2023
Catastrophe bond funds rank among the 10 best-performing credit funds this year, as the hurricanes, earthquakes and other disasters that could trigger payouts have either not happened or not been sufficiently severe.
Posted: Aug 09, 2023
McGill and Partners Wednesday said it has promoted Karl Hennessy to CEO of McGill Global Risk Solutions LLC, the brokerage’s U.S. insurance and reinsurance business.
Posted: Aug 09, 2023
Captive owners need to build long-term relationships with reinsurers that can endure through hard and soft markets, panelists said Wednesday at the Vermont Captive Insurance Association’s 2023 annual conference.
Posted: Aug 09, 2023
Data from the National Bank of Slovakia showed that the local insurance market expanded by 14% year-on-year to €579.2 million ($625.1 million) in the first quarter of this year, Xprimm reported. Meanwhile, local non-life insurers’ gross written premi...
Posted: Aug 09, 2023
China’s National Financial Regulatory Administration said that insurer have received 5.3 billion Chinese yuan ($782 million) worth of claims for floods and disasters triggered by recent extreme rainfall, Asia Insurance Review reported citing Xinhua....
Posted: Aug 09, 2023
U.K.-based insurer MS Amlin Ltd.’s net premiums written increased by 40% year-on-year to £1.96 billion ($2.36 billion) in the first quarter of this year, Reinsurance News reported. The Lloyd’s insurer and reinsurer reported a net income of £7 million...
Posted: Aug 09, 2023
Japanese insurer Tokio Marine Holdings Inc.’s international division saw a 37.2% year-on-year increase in profit to 91.7 billion Japanese yen ($640.3 million) in its fiscal first quarter ended June 30, Reinsurance News reported. The insurer’s interna...
Posted: Aug 09, 2023
The mother of an Arby’s worker who was murdered by a coworker at a restaurant in Hickory Hills, Illinois, in 2017 can’t sue the franchisees, as workers compensation is the exclusive remedy, an Illinois appeals court ruled Tuesday.
Posted: Aug 09, 2023
An insurance company auditor is not owed workers comps benefits for an alleged stress-related incident that resulted a stay in intensive care, a New York appeals court ruled last week upholding lower court rulings.
Posted: Aug 09, 2023
Mulberri, an artificial intelligence insurance platform that focuses on small and medium-sized companies, said Wednesday it is introducing a cyber insurance managing general agency, with policy limits of $250,000 and $500,000.
Posted: Aug 09, 2023
Global insured losses from natural catastrophes rose to $50 billion in the first half of 2023, driven by claims in the United States after a series of thunderstorms, a report from reinsurer Swiss Reinsurance Co. Ltd. Wednesday showed.
Posted: Aug 09, 2023
United Educators Insurance on Wednesday named Richard G. Mills Jr., Dartmouth College’s executive vice president for administration, as its next president and CEO, effective Sept. 1.
Posted: Aug 09, 2023
Worker safety advocates and attorneys representing employers have mixed reactions to recently announced federal heat safety measures for workers.
Posted: Aug 09, 2023