News Center
Business Insurance - _Risk Management
Liberty makes professional liability buy
The Liberty Co. Insurance Brokers Inc. said Friday it has acquired Thousand Oaks, California-based Gray-Stone & Co. Inc.
POSTED MAY 14, 2021 3:49 PM |
$25M Roundup verdict upheld in blow to Bayer
A federal appeals court Friday upheld a $25 million judgment and trial verdict finding Bayer's Roundup caused a California resident's non-Hodgkin lymphoma, dealing a blow to the chemical company’s hopes of limiting its legal risk over the weed-killer.
POSTED MAY 14, 2021 2:01 PM |
Facebook faces prospect of ‘devastating’ data transfer ban
Ireland’s data regulator can resume a probe that may trigger a ban on Facebook’s transatlantic data transfers, the High Court ruled on Friday, raising the prospect of a stoppage that the company warns would have a devastating impact on its business.
POSTED MAY 14, 2021 1:59 PM |
State Street to pay $115M criminal fine for overcharges
State Street Corp. agreed to pay a $115 million criminal penalty and enter a deferred prosecution agreement to resolve charges the bank defrauded customers by secretly overcharging them for back-office expenses, the U.S. Department of Justice said on Thursday.
POSTED MAY 14, 2021 12:13 PM |
Toshiba unit hacked by DarkSide, conglomerate to undergo review
A Toshiba Corp. unit said it was hacked by the DarkSide ransomware group, overshadowing an announcement of a strategic review for the Japanese conglomerate under pressure from activist shareholders to seek out suitors.
POSTED MAY 14, 2021 12:01 PM |
Gallagher negotiates biggest M&A deal quickly, virtually
Arthur J. Gallagher & Co. is used to buying and integrating rival brokers, having completed more than 500 transactions over the past 20 years, but its agreement this week to buy a slew of Willis Towers Watson PLC assets for $3.57 billion is in a different league, its top executive says.
POSTED MAY 14, 2021 11:34 AM |
SEC chair planning new workforce data disclosures
POSTED MAY 14, 2021 10:42 AM |
Irish health service hit by ransomware attack
Ireland's health service operator shut down all its IT systems on Friday to protect them from a “significant” ransomware attack, crippling diagnostic services, disrupting COVID-19 testing and forcing hospitals to cancel many appointments.
POSTED MAY 14, 2021 10:27 AM |
The BI Top 10: Week of May 10, 2021
There’s no surprise about this week’s No. 1 news story — Arthur J. Gallagher & Co.’s planned $3.57 billion acquisition of various Willis Towers Watson PLC assets, thereby clearing the way for Aon PLC’s purchase of Willis.
POSTED MAY 14, 2021 10:00 AM |
SEC issues $3.6M award to whistleblower
The U.S. Securities and Exchange Commission said Wednesday it has issued a $3.6 million award to a whistleblower whose information and help led to a successful enforcement action.
POSTED MAY 13, 2021 4:22 PM |
insuranceNEWS.com.au
Financial Rights says cyclone pool doesn't solve problems
The Financial Rights Legal Centre has warned the reinsurance pool announced last week for northern Australia may not deliver significant premium reductions and offers no assistance for those exposed to natural catastrophes in other parts of the country...
POSTED MAY 10, 2021 12:54 PM |
'Major' D&O, PI claims pushing up financial lines rates: Marsh
Financial and professional rates in the Australia-led Pacific region surged 48% in the first quarter, the highest out of three commercial product classes tracked by Marsh’s price tracker...
POSTED MAY 10, 2021 12:53 PM |
UK actuary flags idea to 'insure the uninsurable'
An actuary with the Financial Reporting Council, a UK regulator, has suggested there may be a way for the insurance industry globally to underwrite pandemics, wars and other uninsurable risks as well as black swan events...
POSTED MAY 10, 2021 12:52 PM |
ICA appoints IAG, Munich Re, Chubb executives to board
The Insurance Council of Australia has added IAG CEO Nick Hawkins, Munich Re Australasia MD Scott Hawkins and Chubb Country President Peter Kelaher to its board...
POSTED MAY 10, 2021 12:51 PM |
Perils puts NSW, Queensland flood losses at $1.06 billion
Zurich-based catastrophe data company Perils has put its initial insured loss estimate for the NSW and Queensland flooding catastrophe at $1.06 billion...
POSTED MAY 10, 2021 12:50 PM |
Bushfire costs to rise as winter rainfall skips Australia
Australia faces drier conditions and an increased risk of extreme bushfires peppered with bouts of intense rainfall and floods during severe La Nina phases, representatives from Chubb and Suncorp told attendees at this year’s Actuaries Summit...
POSTED MAY 10, 2021 12:49 PM |
Liberty Mutual 'evaluating alternatives' for Queensland coal mine
US insurer Liberty Mutual has confirmed it will not be lodging an environmental impact statement for a Queensland coal mine project that it owns through subsidiary Liberty Metals and Mining Holdings...
POSTED MAY 10, 2021 12:47 PM |
Business Insurance
Liberty makes professional liability buy
The Liberty Co. Insurance Brokers Inc. said Friday it has acquired Thousand Oaks, California-based Gray-Stone & Co. Inc.
POSTED MAY 14, 2021 3:49 PM |
Paradigm Redefines Value-Based Care in Workers’ Comp
With a recently announced partnership between Paradigm and Shirley Ryan AbilityLab, two leaders in catastrophic care are stepping up to deliver accountability in the industry. Get valuable insight on this innovative approach in a new Risk Perspective.
POSTED MAY 14, 2021 7:49 AM |
$25M Roundup verdict upheld in blow to Bayer
A federal appeals court Friday upheld a $25 million judgment and trial verdict finding Bayer's Roundup caused a California resident's non-Hodgkin lymphoma, dealing a blow to the chemical company’s hopes of limiting its legal risk over the weed-killer.
POSTED MAY 14, 2021 2:01 PM |
Facebook faces prospect of ‘devastating’ data transfer ban
Ireland’s data regulator can resume a probe that may trigger a ban on Facebook’s transatlantic data transfers, the High Court ruled on Friday, raising the prospect of a stoppage that the company warns would have a devastating impact on its business.
POSTED MAY 14, 2021 1:59 PM |
Comp written premium falls 13% in Calif.
Written premium in California dropped 13% in 2020 to $2 billion — the lowest in the state since 2012 — driven by continued decreases in average insurer charged rates, the Workers Compensation Insurance Rating Bureau of California reported.
POSTED MAY 14, 2021 1:21 PM |
OSHA failed to show reasonable danger in conveyor accident
The Occupational Safety and Health Review Commission administrative law judge vacated a $7,577 fine issued to a conveyor belt supply company after an employee’s hand was seriously injured in a mishap.
POSTED MAY 14, 2021 12:32 PM |
Missouri firefighter cancer bill headed to governor
A bill that would allow for the creation of firefighter cancer benefits pools will head to Missouri Gov. Mike Parson’s desk for his consideration.
POSTED MAY 14, 2021 12:26 PM |
State Street to pay $115M criminal fine for overcharges
State Street Corp. agreed to pay a $115 million criminal penalty and enter a deferred prosecution agreement to resolve charges the bank defrauded customers by secretly overcharging them for back-office expenses, the U.S. Department of Justice said on Thursday.
POSTED MAY 14, 2021 12:13 PM |
Toshiba unit hacked by DarkSide, conglomerate to undergo review
A Toshiba Corp. unit said it was hacked by the DarkSide ransomware group, overshadowing an announcement of a strategic review for the Japanese conglomerate under pressure from activist shareholders to seek out suitors.
POSTED MAY 14, 2021 12:01 PM |
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