Business Insurance

NFP partners with TigerRisk on Lloyd’s line slip

NFP Corp. said Tuesday its financial institutions group has selected TigerRisk Partners LLC to develop a line slip to transact business with Lloyd’s of London.

Posted: May 24, 2022

Beazley unveils online cyber incident response platform

Beazley PLC said Tuesday it is introducing an online incident response platform for U.S. cyber policyholders.

Posted: May 24, 2022

Axa XL names global chief underwriting officer

Axa XL, a unit of France’s Axa SA, on Tuesday said it has named Libby Benet global chief underwriting officer.

Posted: May 24, 2022

Diocese reaches $147.8M settlement of sex abuse claims

The Roman Catholic Diocese of Rochester, New York, has reached a proposed $147.8 million settlement of sex abuse claims with its insurers, according to a motion filed in federal bankruptcy court.

Posted: May 24, 2022

Forecasters predict 7th straight above-normal hurricane season

The Atlantic hurricane season is poised to deliver another round of above-normal storms for the seventh consecutive year, the National Oceanic and Atmospheric Administration said Tuesday.

Posted: May 24, 2022

Gallagher recruits former Travelers complex risk expert

Arthur J. Gallagher & Co. has recruited former Travelers Cos. Inc. underwriter Haytham Zohny as a senior vice president in its complex risk casualty team.

Posted: May 24, 2022

Allianz hires financial lines exec from Swiss Re

Allianz Global Corporate & Specialty SE, an Allianz SE unit, said Tuesday that former Swiss Re Corporate Solutions executive Anthony Codding Jr. will join the AGCS financial lines team as regional head of strategy and portfolio steering, North Americ...

Posted: May 24, 2022

Exxon must face Massachusetts climate change suit

Massachusetts’ high court on Tuesday rejected Exxon Mobil Corp.’s bid to dismiss a lawsuit by the state's attorney general accusing the oil company of misleading consumers and investors about climate change and the dangers of using fossil fuels.

Posted: May 24, 2022

Renewable energy sector’s growth slows due to supply chain woes

Supply chain disruptions due to the COVID-19 lockdowns in China and the surging cost of steel and other components are slowing down the pace of renewable energy sector’s growth in Australia.

Posted: May 24, 2022

South African province hit again by heavy rains and floods

Heavy rains and floods again pummeled South Africa’s coastal province of KwaZulu-Natal on May 22, causing property damage and prompting the evacuation of hundreds of people.

Posted: May 24, 2022

Scor upsizes retro reinsurance cat bond to $250 million

French reinsurer Scor SE is now seeking as much as $250 million in retro reinsurance protection from its new catastrophe bond issuance, up from the previous target size of $150 million.

Posted: May 24, 2022

Cyber insurance gap remains ‘disproportionately high’

A report by Germany-based Munich Reinsurance Co. said that cyber insurance gap remains “disproportionately high.”

Posted: May 24, 2022

Toyota to trim output by 100,000 vehicles due to chip shortage

Japan’s Toyota Motor Corp. will trim its global output by around 100,000 vehicles in June due to the semiconductor chip shortage, and supply chain disruptions caused by strict COVID-19 lockdowns in China.

Posted: May 24, 2022

German insurers’ growth outlook downgraded amid Ukraine war

Due to effects from the Ukraine war, the German Insurance Association has lowered its annual premium growth forecast for the local insurance industry to 2.3% from an expected 2.7%.

Posted: May 24, 2022

Parmigiano Reggiano wheels spinning on how to prevent billions in fraud

Italian cheesemakers have axe to rind with fraudulent cheese peddlers.

Posted: May 24, 2022

Insight Risk introduces builders coverage

Insight Risk Technologies LLC has launched Insight Risk builders risk coverage, the managing general agent said in a statement Tuesday.

Posted: May 24, 2022

Regulators target disability bias risks in AI tools

As more employers use artificial intelligence software to screen job applicants and employees, they should heed recent guidance from federal agencies warning about potential disability discrimination pitfalls, employment experts say.

Posted: May 24, 2022

9/11 workers presumption proof bill introduced in N.Y.

Lawmakers in New York are seeking to amend the workers compensation law, in relation to presumptive evidence for individuals who participated in the World Trade Center rescue, recovery and clean-up operations.

Posted: May 23, 2022

Severity of legal malpractice claims surges: Report

The frequency of legal malpractice claims remained relatively flat last year, but claims severity continued to spike, says a report released Monday.

Posted: May 23, 2022

Zurich wins COVID-related rulings against restaurant, hotel chains

Two Chicago state appeals courts on Friday ruled in favor of a Zurich Insurance Group Ltd. unit in COVID-19-related business interruption litigation filed by restaurant and hotel chains.

Posted: May 23, 2022

Alliant names attorney for M&A group

Alliant Insurance Services Inc. said Monday that attorney James Chenoweth has joined its mergers and acquisitions group.

Posted: May 23, 2022

AIG emissions rise in 2021 as pandemic restrictions ease

American International Group Inc. said Monday its scope 1 and 2 carbon emissions increased in 2021 but stayed below pre-pandemic levels due to real estate consolidation.

Posted: May 23, 2022

Tech a boon for pet health insurers in pandemic

It appears those handy mobile apps that give you details on your pet’s health are also fetching major wins in the pet insurance market.

Posted: May 23, 2022

Swiss Re among founding buyers in carbon removal scheme

Swiss Re and banking giant UBS are among five founding buyers of credits from a scheme set up by a Swiss company to drive down the cost of taking carbon dioxide out of the atmosphere.

Posted: May 23, 2022

Three tornadoes cause heavy damage in Germany

A storm that swept across western and central Germany on May 20 generated three strong tornadoes in the state of North Rhine-Westphalia that left a trail of destruction, especially in the city of Paderborn.

Posted: May 23, 2022