US monitor seeks more transparency from VW over emissions
(Reuters) – Volkswagen A.G.’s external compliance monitor on Monday said he disagreed with some VW executives’ use of privacy and attorney client privilege rights to withhold information about a $27 billion global emissions cheating scandal.
Lloyd’s tries to right its listing marine business after heavy losses
Lloyd’s of London could increase marine insurance rates significantly amid a review of several loss-making syndicates at its marine unit.
Kenya Re eyes global expansion amid rise in competition
Kenya Reinsurance Corp. Ltd. is considering expanding its operations to new markets across the world focusing on northern Africa, Middle East and Asia amid a rise in competition.
Lack of consensus delays setting up catastrophe insurance pool
A lack of consensus among Indian insurers has delayed setting up of a proposed natural catastrophe pool by five years.
Cyber attacks drive insurance uptake: Experts
Experts said that Indian companies are increasingly buying cyber insurance following the 2017 WannaCry ransomware attack and recent digital fraud at The Cosmos Co-operative Bank Ltd.
European insurers pitch for blockchain technology
Research by U.S.-based S&P Global Market Intelligence Inc. found that European insurers are increasingly adopting blockchain technology such as distributed ledger technology in their operations compared with U.S. insurers.
Typhoon Cimaron disrupts transport in Japan
Typhoon Cimaron struck western Japan on Aug. 23 causing power outages and forcing authorities to cancel 300 flights.
Drought causes $416 million in losses
Latvia’s agriculture ministry said that recent drought and heatwaves have caused 395 million ($416 million) in losses.
UK insurance broker buys majority stake in counterpart
U.K.-based insurance broker Abbey Bond Lovis Ltd. has purchased a majority stake in counterpart Digney Grant Ltd.
Split decision on OSHA citations for Nissan
An administrative law judge of the Occupational Safety and Health Review Commission vacated one serious citation item against Nissan North America Inc. but affirmed the other serious item and assessed a $12,675 penalty.
Alleged travel insurance fraudster claim fails spell test
An Australian man who allegedly forged a receipt provided in a travel-insurance claim that aimed to recoup money from a camera he said was stolen in a high-speed chase in Fiji apparently lost his dictionary, too.
Musks U-turn on Tesla deal could intensify his legal, regulatory woes
(Reuters) Tesla Inc. CEO Elon Musks decision to abruptly abandon a plan to take his electric carmaker private will not resolve his mounting regulatory and legal woes and may even make them worse, some securities lawyers said.
California gives insurer approval to lower cannabis rates
Golden Bear Insurance Co. has received approval from the California Department of Insurance to lower rates on its coverage of the cannabis industry, in some cases by more than half, the commissioners office said in a statement Friday.
Travelers appoints vice president of bond and specialty insurance
Travelers Cos. Inc. has named Kristin Roger to vice president, where she will lead the insurers financial institutions business within its bond and specialty insurance segment.
Court reinstates ADA claims made by fired UPS worker
A federal appeals court has reinstated Americans With Disabilities Act claims filed by a fired 25-year United Parcel Service Inc. worker against the company, concluding there was substantial circumstantial evidence and suspicious timing surrounding her termination.
Aon names leader for global financial institutions business
Aon P.L.C. has named Joel Sulkes, previously a Goldman Sachs executive, to the newly created position of global financial institutions leader.
Legg Mason to pay $34M to resolve charges related to bribery scheme
(Reuters) The U.S. Securities and Exchange Commission said on Monday that Legg Mason Inc. will pay more than $34 million to resolve a charge it violated the Foreign Corrupt Practices Act in bribing Libyan officials to secure investments.
Workplace safety review commission to downsize Atlanta office, shift employees to D.C.
The Occupational Safety and Health Review Commission will revamp and reduce the size of its Atlanta office to comply with a directive from President Donald Trump on reforming and reorganizing the federal government.
BI names 2018 Innovation Award winners
Business Insurance on Monday announced the winners of its 2018 Innovation Awards.
NHL players lawsuit against teams, Chubb dismissed
A federal judge has dismissed a retired National Hockey League player’s lawsuits against Chubb Group — now Chubb Ltd. — and two NHL teams because of a lack of jurisdiction. Last year, Mike Peluso, a former “enforcer” for the New Jersey Devils and St. Louis Blues in the 1990s, sued the teams and Chubb, which […]