Business Insurance
Allianz Egypt has reported a profit of 490 million Egyptian pounds ($31.3 million) in the year ended June 30, with its property and casualty business posting 52% year-on-year growth in profits to EGP139 million.
Posted: Nov 17, 2020
Reinsurer General Insurance Corporation of India reported over 12% year-over-year growth in gross written premiums to 106.52 billion Indian rupees ($1.43 billion) in the fiscal second quarter ended Sept. 30.
Posted: Nov 17, 2020
Italian volcano Stromboli erupted on Nov. 16, triggering explosive events and landslides.
Posted: Nov 17, 2020
Australia’s Bureau of Meteorology has issued warning for storms and floods in Sydney in the upcoming months due to the onset of La Niña phenomenon which can bring heavy rains and trigger flooding.
Posted: Nov 17, 2020
The pandemic-induced surge in bankruptcy filings is leading to more demands for information from directors and officers liability underwriters, experts say.
Posted: Nov 17, 2020
Cybersecurity has emerged as the most pressing exposure for business confronting a new “age of risk,” topping the coronavirus pandemic and climate change, in part because cybercrime is so pervasive, the head of insurance broker and consulting firm Ma...
Posted: Nov 16, 2020
A federal appeals court has affirmed the dismissal of a lawsuit filed by Office Depot Inc. against an American International Group Inc. unit, stating the insurer had no duty to defend nor indemnify the office supply retailer in connection with whistl...
Posted: Nov 16, 2020
On Friday, Business Insurance recognized the 2020 Women to Watch EMEA honorees during a virtual awards presentation and leadership conference.
Posted: Nov 16, 2020
Axa XL Risk Consulting has launched its risk scanning platform, according to a statement by the division of Axa SA on Thursday.
Posted: Nov 16, 2020
Chevrolet dealership owner Joel Thys is sorry for the mess outside of his business in Toledo, Iowa, the cause of a derecho in August that wiped out billions of dollars of property across the Midwest.
Posted: Nov 16, 2020
The California Occupational Safety and Health Standards Board will vote Thursday whether to move forward on a proposed COVID-19 temporary workplace safety standard, which outlines mandatory requirements that employers would need to take if passed to...
Posted: Nov 16, 2020
An appellate court reinstated a jury decision in favor of a telecommunications installer who sued Target Corp. after he was injured after using one of the company’s ladders to retrieve his tools.
Posted: Nov 16, 2020
A federal district court in Phoenix has dismissed COVID-19 business interruption-related litigation filed by 19 minor league baseball teams in 10 states against Nationwide Mutual Insurance units, citing their coverages’ virus exclusion.
Posted: Nov 16, 2020
Major insurance companies told the U.K. Supreme Court on Monday it was wrong to assume there could be unlimited cover during a pandemic in an appeal closely watched by thousands of British businesses devastated by the coronavirus crisis.
Posted: Nov 16, 2020
A group led by privacy activist Max Schrems filed complaints on Monday with German and Spanish authorities over Apple’s online tracking tool, saying it breached European law by allowing iPhones to store users’ data without their consent.
Posted: Nov 16, 2020
Lloyd’s of London insurer and reinsurer Chaucer Insurance Group PLC launched a Bermuda-based reinsurer on Monday.
Posted: Nov 16, 2020
The drive from protection & indemnity clubs to push through double-figure premium increases at upcoming renewals should be tempered by the financial dire straits of many shipowners hit by Covid-19, according to Arthur J. Gallagher & Co.
Posted: Nov 16, 2020
Artex Risk Solutions Inc., the captive and alternative risk transfer solutions unit of Arthur J. Gallagher & Co., has named Aon Cayman Managing Director Adrian Lynch as executive vice president-North America, effective March 2021.
Posted: Nov 16, 2020
Japan-based Nissan Motor Co. Ltd. has sued its former chairman Carlos Ghosn for 10 billion Japanese yen ($95 million) for the financial losses it incurred due to his misconduct.
Posted: Nov 16, 2020
Typhoon Ulysses made landfall in the Philippines on Nov. 11 and caused widespread damage.
Posted: Nov 16, 2020
The Bank of England has said that local insurers risk under-estimating claims related to the COVID-19 pandemic and should "stress test" their underlying assumptions.
Posted: Nov 16, 2020
Switzerland's Financial Market Supervisory Authority said that financial risks related to the COVID-19 pandemic will last for months if not years.
Posted: Nov 16, 2020
An explosion at a polyethylene factory in China's Hebei province on Nov. 12 killed seven people and injured one other.
Posted: Nov 16, 2020
Data from the Association of Insurance and Reinsurance Companies of Turkey showed that local insurers' gross written premiums increased 22% year-over-year to nearly 60 billion Turkish lira ($7.7 billion) in the third quarter of 2020.
Posted: Nov 16, 2020
A Tacoma, Washington-based security company has agreed to pay $375,000 to settle U.S Equal Employment Opportunity Commission litigation in a case in which a worker was allegedly told security work was improper for a pregnant woman and terminated.
Posted: Nov 13, 2020