Insurance
Lloyd’s Adds Guyana to Risky Shipping List Amid Escalating Dispute With Venezuela
One of the world’s most-influential insurance markets added Guyana to its list of the riskiest shipping zones amid an escalating territorial dispute with neighboring Venezuela. The decision announced by Lloyd’s Market Association’s Joint War Committee on Monday applies only to …
Read More Vans Owner VF Corp’s Order Fulfillment Operations Hit by Cyber Incident
VF Corp. said on Monday it was investigating “unauthorized” activity on its computer systems that disrupted some operations, including the ability of the Vans sneaker maker to fulfill global customer orders on its e-commerce site. Shares of VF Corp were …
Read More WCRI: Consolidation of Health Care Leads to Higher Costs, Longer Disability Duration
Consolidation of health care services into large corporations that own hospitals, clinics and physician practices may hold the promise of more efficient and better-integrated care, but hasn’t led to better outcomes for workers’ compensation patients, according to a new study …
Read More Companies Are Still Trying to Figure Out How to Comply With SEC Cyber Rules
Some public companies are still trying to figure out how to comply with new rules from the US Securities and Exchange Commission requiring speedy disclosure of significant cyberattacks. Those rules, which kicked in Monday, require companies to report cyber incidents …
Read More Florida Court Rulings, Legislation Could Impact Insurers’ Claims Practices
Recent Florida legislation that has limited plaintiffs’ attorney fees and has raised the bar for bringing bad-faith claims against insurers appears to have already had an impact on the level of claims litigation in the state. Policyholder lawyers note that …
Read More Florida Judge Slams Universal for ‘Stonewalling,’ Demands Answers From Company
Universal Property & Casualty Insurance Co. officials are discounting the significance of recent Florida judges’ rulings that have slammed the company for violating court orders, have forced Universal to default on lawsuits, have referred a Universal lawyer for disciplinary action, …
Read More Wisconsin Corn Mill Agrees to Pay $1.8M After Fatal Explosion
A Wisconsin milling company has agreed to pay an additional $1.8 million in penalties after a corn dust explosion that killed five workers and injured more than a dozen others at its Cambria plant in 2017, the federal Labor Department …
Read More With One Month to Go, Progressive’s Yearly Combined Ratio Hit Target of 96
Progressive Corp. has achieved its combined ratio goal of 96, according to its release of November and year-to-date results. On Friday, Progressive said November net income was $680.6 million and its combined ratio for the month was 91.1. Year-to-date net …
Read More CVC Completes Deal to Take Majority Investment in Dale Underwriting Partners
Dale Underwriting Partners, the trading name for Dale Managing Agency’s Lloyd’s Syndicate 1729, announced that CVC has completed its investment in Dale. The completion of the transaction follows approval from the UK Prudential Regulation Authority (PRA) and Lloyd’s for Dale’s …
Read More Initial Insured Losses for Windstorm Ciarán (aka Emir) Estimated at €1.9B: PERILS
Initial industry losses for extratropical windstorm Ciarán, also known as Emir, are estimated at €1.9 billion (US$2.1 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The storm affected France, Belgium, the United Kingdom, and …
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