Business Insurance
Ryan Flanagan, senior vice president and real estate practice leader at Heffernan Insurance Brokers, says that in a tough market there are creative strategies insurance buyers can use to secure the coverage they need.
Posted: Jul 26, 2022
Teva Pharmaceutical Industries on Tuesday announced a proposed nationwide settlement that could resolve thousands of lawsuits over the drugmaker’s alleged role in the U.S. opioid epidemic.
Posted: Jul 26, 2022
Aspen Insurance Holdings Ltd. said in a U.S. Securities and Exchange Commission filing Monday that it has replaced its auditor after identifying material weaknesses in internal controls over financial reporting.
Posted: Jul 26, 2022
Global insured losses from natural catastrophe events were estimated at $39 billion for the first half of 2022, off 31.6% from first-half 2021’s $57 billion and 18% higher than the 21st-century average of $33 billion, according to a report Tuesday fr...
Posted: Jul 26, 2022
Improvements in risk modeling are necessary if future cyber insurance growth is to reflect increased market capacity that is driven by the industry’s appetite rather than by higher rates that stem from a supply-demand mismatch, says a rating agency r...
Posted: Jul 26, 2022
A U.S. judge said Uber Technologies Inc. did not violate a federal law protecting people with disabilities by not offering wheelchair-accessible vehicles in every market the ride-sharing company serves.
Posted: Jul 26, 2022
COVID-19 vaccine maker BioNTech said Tuesday that it and partner Pfizer filed a complaint in U.S. District Court in Massachusetts, seeking a judgment that they did not infringe U.S. patents held by rival CureVac.
Posted: Jul 26, 2022
The California Workers’ Compensation Institute reported that a rise in medical-only and indemnity claim volume in 2021 drove frequency for private self-insured employers to the highest level since 2007.
Posted: Jul 26, 2022
Brown & Brown Inc. reported second-quarter revenue of $839.7 million late Monday, up 15.5% from the same period last year, with organic revenue increasing 10.3%.
Posted: Jul 26, 2022
Annual workplace homicides have fallen more than 50% from a high of 1,080 in 1994, yet nonfatal incidents have seen an uptick, according to a report released Thursday by the U.S. Department of Justice that aimed to identify indicators of workplace vi...
Posted: Jul 26, 2022
The U.S. Securities and Exchange Commission is investigating whether Coinbase Global Inc. improperly let Americans trade digital assets that should have been registered as securities, Bloomberg News reported Monday.
Posted: Jul 26, 2022
Aspen Insurance Holdings Ltd. has appointed Ernst & Young LLP as Aspen’s independent registered public accounting firm for the fiscal year ending Dec. 31, 2022, with effect from July 6, 2022, following receipt of regulatory approval and completion of...
Posted: Jul 26, 2022
A federal appeals court on Monday reversed a lower court and held in a divided opinion that students at Loyola University in Chicago can pursue breach of contract litigation in connection with the COVID-19-related cancellation of their in-person clas...
Posted: Jul 26, 2022
A mountainside collapse severely damaged a coal mine owned by Chinese state-owned mining conglomerate Shanxi Coking Coal Group Co. Ltd. in the Gansu province on July 23, killing 10 people while injuring seven others.
Posted: Jul 26, 2022
A report by Allianz Global Corporate & Specialty SE said that fires or explosions generate the most expensive losses for businesses in South Africa, accounting for 65% of the value of all claims over the past five years.
Posted: Jul 26, 2022
U.K.-based insurance broker BMS Group Ltd.’s reinsurance arm BMS Re has acquired Mexico-based surety reinsurance broker Calomex Intermediario de Reaseguro, SA de CV for an undisclosed amount.
Posted: Jul 26, 2022
Akbar Al Baker, chief executive of Qatar Airways Co. QCSC, has warned that aviation industry disruptions, mostly stemming from the COVID-19 pandemic, will last for another couple of years.
Posted: Jul 26, 2022
Alaa El-Zoheiry, president of the Insurance Federation of Egypt, said the Ukraine-Russia conflict has affected shipping activities in the region, causing the suspension of imports of agricultural and industrial goods which have increased marine insur...
Posted: Jul 26, 2022
Torrential rains and floods in the north and northeastern regions of Bangladesh in May caused more than 868 billion Bangladeshi taka ($9.2 billion) worth of property and crop damage.
Posted: Jul 26, 2022
Commercial insurance industry reserves remain solid and largely continue to produce favorable development, despite high inflation, industry sources say.
Posted: Jul 26, 2022
T-Mobile US Inc. agreed Friday to pay $350 million to settle litigation over a cyberattack last year that compromised information belonging to an estimated 76.6 million people.
Posted: Jul 25, 2022
A former Goldman Sachs banker, a former FBI agent trainee, a technology executive and others were charged on Monday with insider trading in separate schemes that together generated millions of dollars in profits, U.S. prosecutors said.
Posted: Jul 25, 2022
An arbitrator is the one to decide whether a dispute over a reinsurance agreement should be submitted to an arbitrator or a judge, a federal appeals court said Friday, in affirming a lower court ruling.
Posted: Jul 25, 2022
Bermuda-based specialty insurer and reinsurer Fidelis Insurance Holdings Ltd. said Monday it intends to form a managing general underwriter separate from its existing balance sheet insurance businesses.
Posted: Jul 25, 2022
A federal appeals court on Friday reinstated a disability discrimination claim filed by a call center employee who was terminated after seeking a reduced schedule under the Family and Medical Leave Act.
Posted: Jul 25, 2022