Storm makes landfall, uproots trees, tears off roofs
A powerful storm made landfall in the South African province of Western Cape on July 13 and brought rains, snow and gale-force winds that uprooted trees and tore off roofs.
Tropical Storm Fay insured loss estimate $400M: Karen Clark
Insured losses from Tropical Storm Fay will be close to $400 million, Boston-based catastrophe modeler Karen Clark & Co. said in a statement Tuesday.
Global reinsurance capital plunges 6% in Q1: Aon
First-quarter global reinsurance capital decreased about 6% from the year-earlier period to $590 billion, and there was a modest but progressive tightening of capacity at midyear renewals, according to a report Tuesday from Aon PLC.
Insurance markets of oil exporting nations to be hit hardest
A report by Swiss Re Institute expects insurance markets of oil exporting nations in the Middle East & Africa region to be hit the hardest by the COVID-19 pandemic.
Insurer seeks regulator meeting over pandemic claims
South Africa-based insurer Santam Ltd. has requested an urgent meeting with the U.K.’s Financial Sector Conduct Authority after the regulator recognized the COVID-19 pandemic to be the primary cause of business interruption claims.
Five million health insurance records hacked, for sale
U.S.-based cybersecurity firm Cyble Inc. said that India-based Religare Health Insurance Co. Ltd.’s five million records were hacked and are available for sale online.
Regulator targets insurers over premium hike
South Korea’s Financial Supervisory Service is probing insurers for increasing insurance premiums, after Meritz Fire & Marine Insurance Co. Ltd. raised its damage inspection fee, a key element in calculating premiums.
PICC’s premiums rise more than 4% in first half
The People’s Insurance Company (Group) of China Ltd.’s premiums grew more than 4% year-over-year to surpass 335 billion Chinese yuan ($48 billion) in the first half of the year.
Explosion at gas plant causes extensive damage
An explosion at a gas condensate plant in the Kavian Fariman industrial zone in Iran on July 13 caused extensive damage to the company and to a neighboring firm.
Prominent risk manager arrested on sexual assault charges
A former North Las Vegas risk manager and prominent member of the Nevada risk management community was arrested last week on child sexual assault charges.
Cyber firm Coalition names head of business development
Cyber insurer and security company Coalition Inc. said Monday it has named Marcin Weryk head of business development, a new position.
Insurer wins dispute over payment for roof repair
A federal appeals court has affirmed a lower court ruling that holds an insurer is not obliged to take depreciation into account when calculating a payment for damaged roofs.
Travelers estimates nearly $1B in catastrophe, COVID losses
Travelers Cos. Inc. expects to report pretax catastrophe losses of $854 million and coronavirus-related losses of $114 million when it publishes its second-quarter results next week.
Former Aon exec returns to broker in specialty role
Andrew Tunnicliffe, a former longtime Aon PLC executive, will return to the brokerage in the newly created role of U.K. chairman, global and specialty, Aon announced Tuesday.
Indemnity miscalculations, safety shortfalls plague comp
About two-thirds of payments made to injured workers in New Jersey were incorrect, according to an audit report issued Thursday by the states Office of the State Comptroller.
Workers mental health may be relevant in ankle injury claim
The mental health history of a woman who broke her ankle after slipping on ice in workplace parking lot in 2015 and continued to have ankle pain for years may be relevant to her workers compensation pain and disability, the Supreme Court of Alaska ruled Friday.
Riding the insurance protection wave
Theres nothing gnarly about damaging ones prized surfboard, as surfers well know the sinking feeling of a massive ding in the fragile fiberglass of an already expensive board thats been with you through those choppy waters.
Lloyd’s collaborates with insurtech startups
Lloyd’s of London has collaborated with three insurtech startups to launch products and innovations related to the COVID-19 pandemic.
High court bias ruling in favor of religious schools wont end disputes
Last weeks U.S. Supreme Court ruling holding that a ministerial exception protects a pair of parochial schools from federal age and disability discrimination charges in connection with the firing of two teachers leaves gray areas, experts say.
Judge rejects proposed class settlement in Weinstein case
A federal judge on Tuesday rejected a proposed class-action settlement in litigation filed by Harvey Weinsteins victims.