Business Insurance
Bayer AG is facing a double hit from a higher legal bill for claims relating to weedkiller Roundup as well as 9.25 billion euros ($10.82 billion) in impairments on agriculture businesses, much of it related to its Monsanto deal.
Posted: Nov 03, 2020
McKesson Corp. and two other drug distributors could be expected to pay up to $21 billion for the potential settlement of lawsuits alleging the companies fueled the U.S. opioid epidemic, the company said on Tuesday.
Posted: Nov 03, 2020
Research by U.K.-based Premium Credit found that 51% of small and medium-sized firms have stopped buying business insurance policies to reduce costs amid the COVID-19 pandemic.
Posted: Nov 03, 2020
Storm Molave, which hit central Vietnam on Oct. 28, has caused 10 trillion Vietnamese dong ($430 million) worth of damage.
Posted: Nov 03, 2020
Zuhair Al Atout, chief executive of Jordan-based APEX Reinsurance Brokers and Consultancy, said that reinsurers in the Middle East and North Africa region will increase rates and reduce capacity next year amid the COVID-19 pandemic.
Posted: Nov 03, 2020
Insurers' gross written premiums fell 3.8% year-over-year to more than €19 billion ($22 billion) in the first half of 2020 in Central and Eastern Europe.
Posted: Nov 03, 2020
The Turkish province of Izmir has detained nine people in connection with building collapses following the 6.6-magnitude earthquake on Oct. 30.
Posted: Nov 03, 2020
Hurricane Eta is expected to bring life-threatening storm surge and strong winds to Nicaragua and Honduras on Nov. 3.
Posted: Nov 03, 2020
U.K.-based insurance broker PIB Group Ltd. has acquired local counterpart Erskine Murray Insurance Brokers.
Posted: Nov 03, 2020
As more companies use intellectual property as collateral for loans, an insurance market designed to help facilitate the deals is emerging, industry sources say.
Posted: Nov 03, 2020
Cruise operator Royal Caribbean Group said on Monday it would stop all its cruises through the end of the year, extending previous suspensions, as coronavirus infections continue to increase globally.
Posted: Nov 02, 2020
Directors and officers liability insurance pricing increased 67.9% on average in the third quarter for Aon PLC clients, which was a moderation from 74.4% in the second quarter.
Posted: Nov 02, 2020
Davies Group Ltd. has bought Tulsa, Oklahoma-based Johnson Claim Service Inc., the London-based claims management and insurance services firm announced on Monday.
Posted: Nov 02, 2020
CNA Financial Corp. on Monday reported third-quarter net income of $213 million, up from $107 million for the same period in 2019, despite sustaining $160 million in pre-tax net catastrophe losses.
Posted: Nov 02, 2020
Much of the job losses from the nationwide shutdown in March have been recovered, but the recession is likely to continue, affecting employment levels for months or years, according to a report released Monday by the National Council on Compensation...
Posted: Nov 02, 2020
The board of directors of the Ohio Bureau of Workers Compensation on Monday agreed to distribute an additional $5 billion dividend to ease the impact of the pandemic on the state’s employers — bringing the total distributed by the bureau to $8 billio...
Posted: Nov 02, 2020
Two private equity investment firms said Monday they will acquire Ariel Re, a unit of Hamilton, Bermuda-based Argo Group International Holdings Ltd., and are investing in another insurance firm.
Posted: Nov 02, 2020
Addressing workplace safety and workers compensation, lawmakers in Pennsylvania on Friday introduced a bill that would clarify an employer’s responsibility and rights regarding the state’s four-year-old medical marijuana law.
Posted: Nov 02, 2020
A sports fashion chain that does business in Chicago and the surrounding area has agreed to pay $420,000 to settle a race and national origin discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission, the agency said Friday.
Posted: Nov 02, 2020
The UK Supreme Court will hear an appeal on Nov. 16 of the Financial Conduct Authority’s test case over which insurance companies should offer payouts to small businesses battered by the coronavirus pandemic, it said on Monday.
Posted: Nov 02, 2020
It’s settled: Canada Dry ginger ale contains none of the health benefits of ginger.
Posted: Nov 02, 2020
An employer may be on the hook for $4,827.56, plus interest, in costs for a pain-relieving compound cream dispensed to an injured worker whose claim it accepted and whose pharmacy order went without a utilization review request, a judge in Pennsylvan...
Posted: Nov 02, 2020
One of Australia’s largest pension funds on Monday agreed to settle a landmark climate risk litigation filed by a 25-year-old member who alleged it was failing to protect his retirement savings against climate change.
Posted: Nov 02, 2020
The U.S. Supreme Court on Monday refused to hear a bid by the National Football League and AT&T Inc.'s DirecTV unit to avoid a proposed class-action antitrust lawsuit that accuses them of overcharging for a popular satellite television package.
Posted: Nov 02, 2020
Insurer Hiscox said on Monday it reserved $75 million for catastrophe claims in the third quarter and flagged further exposure to event cancellations if COVID-19 curbs continue into the new year.
Posted: Nov 02, 2020