Business Insurance
Insurance Ireland members will continue giving policyholders special breaks like premium assistance after the government decided to increase COVID-19 restrictions.
Posted: Oct 29, 2020
India-based SBI General Insurance Co. Ltd.'s gross written premiums increased more than 31% year-over-year to surpass 24 billion Indian rupees ($324 million) in the fiscal second quarter ended Sep. 30.
Posted: Oct 29, 2020
A 5.8-magnitude earthquake struck Chile on Oct. 28.
Posted: Oct 29, 2020
An Insurance Regulatory and Development Authority panel has recommended that insurers issue surety bonds as an alternative to bank guarantees for large construction and infrastructure projects.
Posted: Oct 29, 2020
Jamaica's Ministry of Agriculture and Fisheries said that heavy rains over the last four days caused more than $1 billion worth of damage to crops, livestock and infrastructure.
Posted: Oct 29, 2020
Hub International Ltd. said late Wednesday that Pete Reilly, a former Arthur J. Gallagher & Co. executive, will succeed Glenn Day as the leader of the broker’s North American health care specialty practice.
Posted: Oct 28, 2020
The Board of Estimates for Baltimore, which sustained a major ransomware attack last year, approved renewal of its $20 million in cyber insurance coverage Wednesday with Chubb Ltd. and Axa SA units, albeit at a higher price.
Posted: Oct 28, 2020
A former Uber Technologies executive who co-founded a British startup backed by billionaire Jeff Bezos has been sued for allegedly stealing trade secrets from a California shipping and logistics company where he was once a board member.
Posted: Oct 28, 2020
Unionized workers who want to protest treatment or wages might not always be able to bring along their favorite mascot: a rabid, red-eyed rodent named Scabby the Rat.
Posted: Oct 28, 2020
New Jersey lawmakers will consider whether workers compensation insurers in the state will be required to pay for medical marijuana under certain circumstances.
Posted: Oct 28, 2020
More than two dozen policyholder groups representing hospitality, real estate, retail, film, television and other industries have formed a coalition in the latest push to establish a public-private backstop for future pandemic risks.
Posted: Oct 28, 2020
A construction company that appealed the Indiana Workers Compensation Board’s award of medical and disability to a worker who fell through the roof not only lost its appeal, but saw the worker’s award increased by 5% by the court.
Posted: Oct 28, 2020
The 10th U.S. Circuit Court of Appeals on Tuesday affirmed citations against an Oklahoma oil refinery after an explosion killed two workers in 2012.
Posted: Oct 28, 2020
Standard & Poor’s Global Ratings Inc. on Wednesday placed American International Group Inc.’s property/casualty operations on “creditwatch” with negative implications following AIG’s announcement that it would split its life and general insurance uni...
Posted: Oct 28, 2020
Insurtech companies globally raised $2.538 billion across 104 deals during the third quarter of 2020, Willis Towers Watson PLC said in a report Wednesday.
Posted: Oct 28, 2020
The U.S. National Security Agency is rebuffing efforts by a leading Congressional critic to determine whether it is continuing to place so-called back doors into commercial technology products, in a controversial practice that critics say damages bot...
Posted: Oct 28, 2020
A workers compensation insurer does not have to reimburse an injured cable installer’s $24,268 in medical cannabis expenses for chronic pain relief because Massachusetts’ medical marijuana law states that insurers do not have to cover the drug, the S...
Posted: Oct 28, 2020
Chubb Ltd. benefited from a continuously improving commercial property/casualty pricing environment in the third quarter, Chairman and CEO Evan Greenberg told analysts Wednesday after the insurer reported higher profit and growth in net premium writt...
Posted: Oct 28, 2020
Switzerland-based Chubb Ltd.'s net profit increased 9% year-over-year to nearly $1.2 billion in the third quarter of 2020 despite significant catastrophe claims.
Posted: Oct 28, 2020
Indonesian businessman Benny Tjokrosaputro has been sentenced to life imprisonment for stock manipulation that led to more than $1 billion in losses at insurer PT Asuransi Jiwasraya.
Posted: Oct 28, 2020
A report by Morocco's Insurance and Social Security Supervisory Authority said that overall premiums increased 4.6% year-over-year to 27.3 billion Moroccan dirham ($3 billion) in the first half of 2020.
Posted: Oct 28, 2020
U.K.-based insurance broker Coverys European Holdings Ltd. has completed the acquisition of Italian counterpart Bridge Insurance Broker Srl.
Posted: Oct 28, 2020
Storm Zeta, which hit Mexico's Yucatan Peninsula on Oct. 26, is forecast to pass east of oil firm Petroleos Mexicanos' platforms off the coast of Campeche and Tabasco states.
Posted: Oct 28, 2020
Three insurers accounted for 87% of premiums in the Japanese nonlife insurance sector in the year ended March 31.
Posted: Oct 28, 2020
Israel-based Eilat Ashkelon Pipeline Co. Ltd. and five of its current and former senior executives could stand trial over their alleged role in the spill of five million liters of crude oil in southern Israel in 2014.
Posted: Oct 28, 2020