Business Insurance
The Indonesian General Insurance Association expects that the rising trend of credit insurance claims to continue into next year.
Posted: Oct 30, 2020
Data by the Association of Kenya Insurers showed that local marine insurers' gross written premiums dropped nearly 5% year-over-year to a three-year low of around 3.5 billion Kenyan shillings ($32 million) in 2019.
Posted: Oct 30, 2020
Mount Sinabung volcano in North Sumatra, Indonesia, erupted on Oct. 29 and spewed volcanic ash 2,000 meters into the air and a 1,500-meter-high ash column.
Posted: Oct 30, 2020
Data from the Albanian Financial Supervisory Authority showed that local insurers' gross written premiums fell more than 6.5% year-on-year to 12 billion Albanian leks ($113.7 million) in the first nine months of 2020.
Posted: Oct 30, 2020
Reinsurance company Swiss Re on Friday reported a smaller-than-expected net loss in the first nine months after booking claims and reserves of $3 billion related to COVID-19.
Posted: Oct 30, 2020
The Malaysian Takaful Association is positive about the performance of the local takaful industry this year despite the COVID-19 pandemic.
Posted: Oct 30, 2020
Arthur Gallagher & Co. on Thursday reported a 7.3% increase in third-quarter brokerage revenue to $1.29 billion.
Posted: Oct 29, 2020
Big Tech’s decisions to block some posts and videos while letting other content viewed as inflammatory proliferate have drawn the ire of Republicans and Democrats alike, raising the prospect that a 24-year-old U.S. law that fostered the internet’s ex...
Posted: Oct 29, 2020
Tourists to Jamaica are prepared to pay their all-inclusive resort fees, but now a charge for health insurance?
Posted: Oct 29, 2020
Alliant Insurance Services Inc. of Newport Beach, California, has named former Arthur J. Gallagher & Co. executive Steve Pierce as executive vice president of Alliant Construction Services Group.
Posted: Oct 29, 2020
An en banc federal appeals court reversed its own panel’s ruling Wednesday and held a plaintiff in a failure-to-accommodate disability case does not have to prove an adverse employment action to successfully pursue her litigation.
Posted: Oct 29, 2020
Taiwan's UMC has pleaded guilty to trade secret theft in the United States and will pay a $60 million fine in a case where it was accused of helping a Chinese state-owned chipmaker steal secrets from Micron Technology Inc.
Posted: Oct 29, 2020
A worker who said she injured her fingers just hours into her first day of work and then sued for negligence is barred by the exclusive remedy of the Louisiana Workers Compensation Act from pursuing her claims.
Posted: Oct 29, 2020
AHT Insurance has established a captive programs division and hired longtime health care captive management executive Mark Tabler to head the practice, the brokerage announced Wednesday.
Posted: Oct 29, 2020
Workers compensation patients who undergo lumbar surgeries have higher percentages of reoperation and readmission compared to those undergoing similar surgeries in group health, the Workers Compensation Research Institute reported in a study released...
Posted: Oct 29, 2020
NFP Corp. acquired Insurance Specialty Group LLC, an Atlanta-based managing general agent that specializes in construction coverage on Oct. 1, NFP said in a statement Thursday.
Posted: Oct 29, 2020
Ohio Gov. Mike DeWine requested that the Ohio Bureau of Workers Compensation release $5 billion in dividends to ease the continued financial impact on the state’s employer from the COVID-19 pandemic, his office said in a statement Wednesday.
Posted: Oct 29, 2020
Axis Capital Holdings Ltd. swung to a third-quarter loss of $73 million from a net profit of $28 million in the year-earlier period, as catastrophe losses hit the company’s insurance and reinsurance operations.
Posted: Oct 29, 2020
Willis Towers Watson PLC reported $2.01 billion in third-quarter revenue, up 1% over the same period last year, but organic revenue slipped 1% as the brokerage continues to face “headwinds” amid the COVID-19 pandemic, the firm’s top executives said T...
Posted: Oct 29, 2020
Commercial insurance rate increases continue to accelerate in the pandemic, forcing some buyers to retain more risk, top executives at Marsh & McLennan Cos. Inc. said Thursday on a third-quarter earnings call with analysts.
Posted: Oct 29, 2020
Eastern European criminals are targeting dozens of U.S. hospitals with ransomware, and federal officials on Wednesday urged health care facilities to beef up preparations rapidly in case they are next.
Posted: Oct 29, 2020
San Diego-based ReAlign Insurance Holdings LLC said Thursday it has formed Summit Specialty Insurance Co., a surplus lines insurer that will write a combination of commercial and personal lines.
Posted: Oct 29, 2020
The U.K. government plans to launch an investigation to probe whether it has been cheated out of nearly £4 billion ($5.2 billion) from its furlough program aimed at helping people laid off during the COVID-19 pandemic.
Posted: Oct 29, 2020
Dutch insurer Aegon NV is looking to sell its Eastern European business as it tries to cope with the financial hardships brought by the COVID-19 pandemic.
Posted: Oct 29, 2020
Qatar Insurance Co.'s gross written premiums increased 4% to 10.2 billion Qatari rial ($2.7 billion) in the first nine months of the year, driven by hardening commercial insurance and reinsurance rates.
Posted: Oct 29, 2020