Business Insurance - Web News http://businessinsurance.com/section/news http://www.businessinsurance.com en-us Wed, 5 Aug 2015 07:10:01 EST 10 Suncorp CEO issues warning against government-based disaster insurance scheme http://businessinsurance.com/article/20150805/NEWS09/150809941 20150805/NEWS09/150809941 Suncorp Group Ltd. chief executive Patrick Snowball has issued a warning against the formation of a government-run disaster insurance scheme, reports ABC. Wed, 5 Aug 2015 05:28:21 EST Rating agencies down on PartnerRe http://businessinsurance.com/article/20150805/NEWS09/150809942 20150805/NEWS09/150809942 Rating agencies downgraded the rating of PartnerRe Ltd. due to its lack of diversification and seesaw talks with potential suitors, reported Artemis. Wed, 5 Aug 2015 05:26:04 EST Drug maker issues massive recall after plants ordered shuttered http://businessinsurance.com/article/20150805/NEWS09/150809943 20150805/NEWS09/150809943 Indian pharmaceutical company Wockhardt Ltd. has issued 35 recalls of about 20 different drugs covering tens of millions of units, reports FiercePharma. Wed, 5 Aug 2015 05:24:40 EST Insurers told to settle cyclone claims by month’s end http://businessinsurance.com/article/20150805/NEWS09/150809944 20150805/NEWS09/150809944 Insurance claims by various industrial units in Vishakhapatnam, India that suffered damages in the Hudhud cyclone last year, have not yet been settled, reports The Hindu. Wed, 5 Aug 2015 05:23:23 EST Porto Seguro net income jumps 26% in second quarter http://businessinsurance.com/article/20150805/NEWS09/150809945 20150805/NEWS09/150809945 Brazilian insurer Porto Seguro S.A. posted a 26% year-on-year increase in net income to 275 million Brazilian real ($80.3 million) in the second quarter ended June 30, reports Globo.com. Wed, 5 Aug 2015 05:22:02 EST Ministry authorizes Agea to disburse €28 million worth of crop insurance http://businessinsurance.com/article/20150805/NEWS09/150809946 20150805/NEWS09/150809946 In Italy, the ministry of agriculture has authorized a further share of insurance contributions for crop insurance, reports Italiafruit News. Wed, 5 Aug 2015 05:20:50 EST Landowners insurance to report net profit in 2014 after many years of losses http://businessinsurance.com/article/20150805/NEWS09/150809947 20150805/NEWS09/150809947 Landowners mutual insurance companies will report a net profit for the 2014 financial year, reported Versicherungs Journal.de. Wed, 5 Aug 2015 05:19:10 EST Travelers says CEO Jay Fishman to step down http://businessinsurance.com/article/20150804/NEWS06/150809948 20150804/NEWS06/150809948 Travelers Cos. Inc. announced that Jay S. Fishman would step down as CEO of the insurer on Dec. 1 and would be replaced by Alan D. Schnitzer, who currently is CEO of Travelers' business and international insurance segment. Tue, 4 Aug 2015 16:09:50 EST Vanbridge enhances its Executive Risk Insurance Program http://businessinsurance.com/article/20150804/NEWS06/150809949 20150804/NEWS06/150809949 Insurance broker Vanbridge Holdings L.L.C. on Tuesday said it has enhanced its SiX Executive Risk Insurance Program for private equity clients and venture capital firms and their portfolio companies. Tue, 4 Aug 2015 15:44:28 EST Workers comp PBM expands acquisition into California http://businessinsurance.com/article/20150804/NEWS08/150809950 20150804/NEWS08/150809950 Injured Workers’ Pharmacy L.L.C. has completed the acquisition of Chronic Care Inc., a workers compensation home delivery pharmacy operating exclusively in California. Tue, 4 Aug 2015 15:04:10 EST