Business Insurance
Insured losses to onshore properties from Hurricane Zeta range from around $1.5 billion to close to $4.4 billion, according to latest estimates Monday from several catastrophe risk modeling companies.
Posted: Nov 02, 2020
A 7.0-magnitude earthquake struck the Turkish town of Seferihisar in Izmir province on Oct. 30 and caused widespread damage.
Posted: Nov 02, 2020
The World Bank Group-issued $225 million catastrophe bond for the Philippines is under threat from typhoon Goni, which may cause a partial loss of principal.
Posted: Nov 02, 2020
A fire that broke out at AKM Semiconductor Inc.'s factory in Nobeoka City, Japan, on Oct. 20 and burnt for more than two days has hit the global supplies of numerous digital-to-analog converter chips.
Posted: Nov 02, 2020
Hedi Hachicha, an official at Scor SE's Middle East & Africa unit, said that the reinsurance industry is facing pressure due to the COVID-19 pandemic-related losses and the current financial market situation.
Posted: Nov 02, 2020
Brazilian meat processor JBS SA will sue its majority shareholders and a few former managers for a plunge in the company's share price in 2017 after they confessed to bribing multiple government officials.
Posted: Nov 02, 2020
Hailstorms hit the Australian state of Queensland on Nov. 1 and caused $60 million Australia ($42 million) worth of damage.
Posted: Nov 02, 2020
Data from the Insurance Regulatory and Development Authority of India showed that local nonlife insurers' gross written premiums increased 1.4% year-over-year to more than 968 billion Indian rupees ($13 billion) in the six months ended Sep. 30.
Posted: Nov 02, 2020
Healthcare providers are facing growing liability risks during the global coronavirus pandemic, as more care is delivered through telehealth and virtual visits. Learn how Coverys can help providers understand the risks and gain insights on how to mit...
Posted: Nov 02, 2020
Nonprofits face various liability risks, from D&O to employment practices, to fiduciary liability and more. Mitigating risk is key to sustaining operations. Learn more in this Business Insurance Risk Perspective from Philadelphia Insurance Companies.
Posted: Nov 02, 2020
Two civil rights groups filed suit against President Trump, the Department of Labor and U.S. Secretary of Labor Eugene Scalia on Thursday challenging the president’s diversity training executive order.
Posted: Oct 30, 2020
The pandemic negatively affected both medical costs and indemnity for workers with soft tissue injuries, according to a study released Thursday by the Workers Compensation Insurance Rating Bureau of California.
Posted: Oct 30, 2020
Hartford Financial Services Group Inc. reported third-quarter net income of $453 million, a 14% decrease from the same quarter in 2019 due to restructuring costs related to Hartford Next and losses from the sale of its operations in continental Europ...
Posted: Oct 30, 2020
In a policyholder victory, a state court judge has refused to dismiss COVID-19 business interruption litigation filed by a Philadelphia pub against Lloyd’s of London, in a preliminary ruling.
Posted: Oct 30, 2020
McDonald’s Corp. was hit on Thursday with a potentially multi-billion-dollar lawsuit by Black franchise owners who accused the fast-food giant of racial discrimination for steering them to underperforming stores.
Posted: Oct 30, 2020
Two restaurants are named in a proposed class-action lawsuit against Grubhub Inc. that claims the company used the names and logos of up to 150,000 restaurants it had no partnership with in an effort to cook up more business for the digital meal deli...
Posted: Oct 30, 2020
The workers compensation case involving an injured interstate tractor-trailer driver who lives in Massachusetts and works for a company based in Pennsylvania belongs in a Massachusetts court, the Supreme Judicial Court of Massachusetts ruled Thursday...
Posted: Oct 30, 2020
A coalition of labor unions representing education, health care and municipal workers on Thursday sued the U.S. Secretary of Labor and the Occupational Safety and Health Administration over the lack of a standard to protect workers from infectious di...
Posted: Oct 30, 2020
Delaware’s Industrial Accident Board must consider new medical evidence on the causation of a masonry worker’s alleged work-related stroke, according to a ruling issued Thursday by the Superior Court of Delaware.
Posted: Oct 30, 2020
Aon PLC on Friday reported almost flat revenue growth for the third quarter but signaled it might see increased pressure on growth in the fourth quarter.
Posted: Oct 30, 2020
Self-driving tech company Waymo, which this month opened its driverless taxi service in the Phoenix suburbs to the public, on Friday said its autonomous vehicles there had been involved in 18 minor incidents since 2019 during tests and actual rides.
Posted: Oct 30, 2020
Britain's data watchdog said on Friday it has fined Marriott International £18.4 million ($23.98 million) in a six-year old cyberattack on its Starwood hotel reservation system in one of the largest data breaches in history.
Posted: Oct 30, 2020
American International Group Inc. topped this week’s news with its announcement that Peter Zaffino will be taking over as CEO next March and that the insurer plans to spin off its life and retirement business. Follow-up stories on analysts’ and ratin...
Posted: Oct 30, 2020
Ping An Insurance (Group) Company of China Ltd.'s net profit grew 7.7% to 34.4 billion Chinese yuan ($5.1 billion) in the third quarter of the year.
Posted: Oct 30, 2020
Typhoon Molave hit Vietnam on Oct. 28 and caused widespread damage.
Posted: Oct 30, 2020