Uptake of cyber insurance grows as number of attacks surge
There has been an increase in the uptake of commercial, corporate and individual cyber security insurance in India as the number of cyber attacks grows.
Generali CEO Donnet survives but rebels take board seats
Philippe Donnet kept his job as CEO of Italian insurer Generali on Friday, surviving a challenge from a group of rebel domestic investors thanks to strong support from institutional shareholders.
Increase in 2020 comp disability could be effect of pandemic
The COVID-19 pandemic, and not necessarily infections, could explain the increase in temporary disability benefit duration workers compensation researchers found in 2020, the Workers Compensation Research Institute said in a report released Thursday.
Walmart Health offers health plans virtual diabetes management service
Building on its acquisition of telehealth provider MeMD last year, Walmart Health is rolling out a virtual care diabetes program for employers and insurers, reports Fierce Healthcare. MeMD, is rolling out the virtual diabetes program as a standalone service or as part of a comprehensive medical and behavioral telehealth program for enterprise customers and health […]
Probe finds excessive coverage denials by Medicare Advantage plans
Every year, tens of thousands of people enrolled in private Medicare Advantage plans are denied necessary care that should be covered under their plans, federal investigators concluded in a report published April 28.
CVS Caremark faces fine over pharmacy self-dealing
Minnesota is threatening to fine CVS Caremark $1.25 million for its alleged practice of wrongly steered patients to CVS retail and mail order pharmacies owned by its parent company.
Most small businesses see employee benefits as strategic priority: Study
For more than 80% of small business owners, employee benefits are a top strategic priority, as these benefits play a critical role in impacting culture and morale, employee wellbeing, and attracting and retaining top talent.
PBGC allocates funds to bail out more union pension plans
The Pension Benefit Guaranty Corporation has approved applications submitted to the Special Financial Assistance Program by three struggling multiemployer pension plans.
Telehealth does not generate more follow-up care: Study
Telehealth patients did not require more follow-up care than in-person patients, according to a new study published in JAMA Network Open, and experts suggest that these findings may help shape telehealth policies.
Twitter deal could bolster lawsuit over Musk’s Tesla pay
Elon Musk’s $44 billion takeover of Twitter is helping provide ammunition for an upcoming trial where an investor will argue the CEO’s $56 billion pay package from Tesla Inc is a waste of money that failed to secure his full-time services.
Allianz toughens oil and gas policy to help meet climate goal
Allianz SE, Europes biggest insurer, plans to take a harder line on insuring the oil and gas industry as part of efforts to align its underwriting policies with the worlds climate goal, the company said on Friday.
Sanctions tighten screws on Russias Sovcomflot as ship insurers cut cover
Western ship insurers are terminating cover for Russia’s leading shipping company Sovcomflot as multiple sanctions start to bite, companies involved say, adding to the growing challenges for the state-owned company and Moscow’s efforts to export oil and gas.
Hartford profit soars 80%
Hartford Financial Services Group Inc. posted first-quarter net income of $440 million, up 80% from $244 million in the same time period last year.
Lawmakers aiming to rein in on warehouse working conditions
Lawmakers in New York are aiming to tackle the high levels of injuries in warehouses with a warehouse worker protection act, introduced Thursday, that would require employers to better manage such issues as ample rest and quotas.
QBE hires Berkshire execs for new specialty casualty business unit
QBE North America said Friday it has launched a specialty casualty business unit and hired four former senior Berkshire Hathaway Specialty Insurance Co. executives to lead the operation.
Gallagher sees record insurtech funding in 2021
Insurtech funding reached a record $15.8 billion in 2021, more than the combined $13.4 billion in 2020 and 2019, and the 564 yearly deal total is also a record, according to a report Friday from Gallagher Re, the reinsurance business of Arthur J. Gallagher & Co.
Asset manager, former co-CEOs agree to pay $10M in SEC charges
An asset manager and its former co-CEOs have agreed to pay $10 million to settle U.S. Securities and Exchange Commission charges that they made misrepresentations to investors and clients that created the illusion of the companys likely future growth.
Appellate court upholds ruling for Admiral in pollution case
Admiral Insurance Co. is not obligated to defend or indemnify a pair of trucking companies under environmental impairment and contractor pollution liability policies it issued for Montana property a federal appeals court ruled Thursday.
Google agrees to settle biometrics case for $100 million
Google LLC has agreed to pay $100 million to settle class-action litigation filed under the Illinois Biometric Information Privacy Act in which it was charged with using its photo app to collect the biometrics of thousands of people without providing notice or obtaining their permission.
The BI Top 10: Week of April 25, 2022
Willis Towers Watson accounts for three slots in this weeks Top 10, led by news of its hiring a new head of corporate risk and broking for North America.