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Iranian insurers settle nearly $25 million of quake-related claims
Published: 13/03/2018Abdolnasser Hemmati, head of regulator the Central Insurance of Iran, said that local insurers have settled more than 1 trillion Iranian rials ($24.5 million) worth of claims related to the November 2 ... Read moreSource: www.businessinsurance.com -
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UAE satellite firm to make 50% insurance claim for incorrectly launched craft
Published: 13/03/2018U.A.E.-based Al Yah Satellite Communications Co. PrJSC plans to make a claim for 50% of the insured value of its YahSat-3 craft after France-based satellite launching firm Arianespace S.A.'s rocket la ... Read moreSource: www.businessinsurance.com -
Reforms help African insurers record profit: A.M. Best
Published: 13/03/2018A report by U.S.-based ratings agency A.M. Best Co. Inc. found that insurers and reinsurers in Africa recorded higher profits due to reforms by industry association the Inter-African Conference on Ins ... Read moreSource: www.businessinsurance.com
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75% of SMEs cite breadth of insurance cover as top priority: Survey
Published: 13/03/2018A survey by Germany-based insurer Allianz S.E. found that 75% of small and mid-sized enterprises cited breadth of cover as the top priority when purchasing business insurance. Read moreSource: www.businessinsurance.com -
Insurer Needn't Pay $6M To Defend Client's Bad-Faith Suit
Published: 12/03/2018An Indiana federal court ruled Monday that insurer American International Specialty needn’t pay a $6 million claim that a client, another insurer, faced after its allegedly bad-faith handling of ... Read moreSource: www.law360.com -
Patriot National Plan Disclosure Statement Approved In Del.
Published: 12/03/2018Bankrupt insurance services provider Patriot National Inc. received court approval Monday in Delaware for a Chapter 11 disclosure statement detailing its proposed plan for a debt-for-equity swap with ... Read moreSource: www.law360.com
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Mass. AG Loses Fight Against Trump Contraception Rules
Published: 12/03/2018A Massachusetts federal judge on Monday rejected the state attorney general's challenge to the Trump administration’s decision to let more employers deny women contraceptive coverage, saying Mas ... Read moreSource: www.law360.com -
Idaho's Insurance Chief Dishes On His ACA End Run
Published: 12/03/2018The Trump administration would be hard-pressed to show that Idaho’s closely watched bid to evade Affordable Care Act standards rises to the level of flouting the law, the state’s top insur ... Read moreSource: www.law360.com -
You Can Find Workers’ Comp Gold in 8,000 Hours
Published: 12/03/2018Hey, there. Michael Stack here, CEO of Amaxx. I’m generally fairly handy. I worked in a wood shop in college for four years and I’ve always enjoyed sort of doing little projects. So will h ... Read moreSource: blog.reduceyourworkerscomp.com
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AIG Wins Suit Over Palazzo Hotel Construction Project
Published: 12/03/2018Liberty Mutual Fire Insurance Co. must pay the entirety of a multimillion-dollar settlement resulting from shoddy construction work on the Palazzo hotel in Las Vegas, a Nevada federal court ruled on F ... Read moreSource: www.law360.com -
Storm, cold snap to cause hundreds of millions of dollars of economic losses
Published: 12/03/2018A report by U.K.-based Aon Benfield Group Ltd. predicted that the cold, arctic air and storm Emma are likely to cause hundreds of millions of dollars in economic losses including business interruption ... Read moreSource: www.businessinsurance.com -
Belgium to compensate all terrorism victims
Published: 12/03/2018The Belgian government and insurers have agreed to compensate terror attack victims irrespective of where and how the attacks are perpetrated. Read moreSource: www.businessinsurance.com
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Asian film industry's demand for insurance rises significantly
Published: 12/03/2018Experts said that the Asian film industry's demand for insurance has increased significantly since 2017 after Andy Lau Tak-wah, a Hong Kong actor, was off work for nine months due to an injury. Read moreSource: www.businessinsurance.com -
Cyclone Gita damage bill exceeds $150 million
Published: 12/03/2018Losaline Ma'asi, chairman of Tonga's standing committee for Agriculture and Fisheries, said that cyclone Gita caused $152 million worth of damage to the country's agricultural sector. Read moreSource: www.businessinsurance.com -
Japanese cryptocurrency exchange hit by $54-million theft
Published: 12/03/2018Japan-based cryptocurrency exchange operator Coincheck Inc. plans to compensate about 260,000 victims after hackers stole about $54 million worth of cryptocurrency from the firm's exchange. Read moreSource: www.businessinsurance.com
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South Korean insurer seeks to expand in China, Vietnam
Published: 12/03/2018South Korea-based insurer NongHyup Financial Group Inc.'s unit NongHyup Property & Casualty Insurance Co. Ltd. will partner with the All China Federation of Supply and Marketing Cooperatives to setup ... Read moreSource: www.businessinsurance.com -
Iran's government divests from local insurer
Published: 12/03/2018The Iranian government has sold its 17.14% stake in local insurer Alborz Insurance Co. to a consortium consisting of pension funds and an investment firm. Read moreSource: www.businessinsurance.com -
Nigerian insurance regulator takes over insurer's operations
Published: 12/03/2018Nigeria's insurance regulator the National Insurance Commission has taken over local insurer Unic Insurance P.L.C.'s operations due to Unic's inability to pay claims following weak financial results. Read moreSource: www.businessinsurance.com
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