Business Insurance
The insurance regulator of the Australian state of New South Wales has proposed a cost-sharing mechanism for workers’ compensation claims related to the COVID-19 pandemic.
Posted: Nov 12, 2020
Typhoon Ulysses, which hit the Philippines on Nov. 11, caused power outage affecting more than 3.8 million people.
Posted: Nov 12, 2020
Hackers have demanded a ransom of 1.1 billion Japanese yen ($11 million) from Japanese video game developer Capcom Co. Ltd., which suffered a cyber attack on Nov. 2.
Posted: Nov 12, 2020
A report by the Saudi Credit Bureau said that Saudi Reinsurance Co. is seeing an improving operating environment due to better pricing dynamics particularly for loss making segments.
Posted: Nov 12, 2020
The Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia said that the number of armed robbery and pirate attacks on ships increased 35% year-over-year to 84 in the first ten months of 2020.
Posted: Nov 12, 2020
U.A.E.-based insurer National Takaful Company (Watania) PJSC's gross written premiums declined 7% year-over-year to 243 million United Arab Emirates dirham ($66 million) in the first nine months of 2020.
Posted: Nov 12, 2020
QBE North America has hired former Berkshire Hathaway Specialty Insurance Inc. underwriters Dan Fortin and Todd Greeley to lead its financial lines business.
Posted: Nov 11, 2020
Aiming to enhance construction safety, Oregon Occupational Safety and Health is offering a free training resource as part of its bilingual training program that helps English-speaking employers train and talk about workplace safety and health with Sp...
Posted: Nov 11, 2020
Ametros Financial Corp. has named Porter Leslie as CEO, the workers compensation post-settlement administrator said in a statement Wednesday.
Posted: Nov 11, 2020
The Washington Department of Labor & Industries levied a $92,000 fine against a construction company with a history of safety problems, the department announced in a statement Tuesday.
Posted: Nov 11, 2020
The 36.2 % drop in the number of inpatient hospitalizations involving California injured workers over the past decade was largely due to the ongoing decline in spinal fusions and a more recent decline in lower extremity joint surgeries, according to...
Posted: Nov 11, 2020
Wildfires and hurricanes caused billions of dollars in insured losses during October, according to a report Wednesday from Aon PLC.
Posted: Nov 11, 2020
As the pandemic calls for smaller gatherings, those unused to cooking Thanksgiving dinner this year will quickly learn the No. 1 lesson in bird roasting: The big bird is easy to screw up.
Posted: Nov 11, 2020
Of the 12,305 COVID-19 workers compensation claims filed by workers in Texas since a statewide disaster was declared on March 13, only 35% included claimants who tested positive for the virus and 38% of those were denied, according to a report releas...
Posted: Nov 11, 2020
The global nonlife insurance sector will see a swift recovery in premium growth next year, driven by strong and broad-based rate hardening in commercial lines, Swiss Re Ltd. said Wednesday in a report.
Posted: Nov 11, 2020
Arthur J. Gallagher & Co. has bought San Diego-based Arrowhead Wholesale Insurance Services LLC, the brokerage announced Wednesday.
Posted: Nov 11, 2020
Private-equity backed fronting insurer Obsidian Insurance Holdings Inc. said Wednesday that its recently formed excess and surplus lines insurance unit has received an A- rating from A.M. Best Co. Inc.
Posted: Nov 11, 2020
The National Council on Compensation insurance on Tuesday announced that its 2021 Annual Issues Symposium will take place online.
Posted: Nov 11, 2020
A report by U.S.-based Fitch Ratings Inc. said that Australian nonlife insurers' earnings are likely to fall due to sluggish premium growth and weaker investment revenue.
Posted: Nov 11, 2020
George Ashkar, managing director at U.A.E.-based Gateway International Assurance LLC, said that more than 90% of insurers have reduced premiums as they compete for business.
Posted: Nov 11, 2020
Heavy rains have caused severe floods at the Greek island of Crete, turning roads into rivers, uprooting trees, damaging hundreds of homes and businesses, and sweeping away cars into the sea.
Posted: Nov 11, 2020
Sunder Sham Arora, India's Punjab industries and commerce minister, said that industries in Punjab state have lost 220 billion Indian rupees ($3 billion) because of the suspension of goods trains.
Posted: Nov 11, 2020
U.S.-based claims management firm Crawford & Co. has established a cyber incident response hub for Central and Eastern Europe.
Posted: Nov 11, 2020
Hong Kong's Insurance Authority has formed the Disciplinary Panel Pool as part of its new monitoring mechanism for authorized insurers and licensed brokers.
Posted: Nov 11, 2020
Hurricane Eta hit Honduras last week and damaged around 8,000 hectares of banana plantations, which accounts for around 50% of the total banana production area.
Posted: Nov 11, 2020