Insurance

Global natural disasters during the first half of 2022 cost insurers about US$34 billion, which covered a little more than half of the overall $65 billion in losses from floods, earthquakes, and storms during the first six months, according to …

Reinsurer SCOR reported a first half loss attributed to the war in Ukraine, natural catastrophes and the severe drought in Brazil. The H1 loss of €239 million (US$242.6 million), compares with net income of €380 million (US$385.8 million) reported during …

AbbVie Inc.’s Allergan unit has reached an agreement to pay more than $2 billion to resolve thousands of lawsuits filed by state and local governments over the marketing of its Kadian opioid painkiller, according to people familiar with the matter. …

The European Union found evidence that smartphones used by some of its staff were compromised by an Israeli company’s spy software, the bloc’s top justice official said in a letter seen by Reuters. In a July 25 letter sent to …

The Group of Seven richest economies aim to have a price-capping mechanism on Russian oil exports in place by Dec. 5, when European Union sanctions banning seaborne imports of Russian crude come into force, a senior G7 official said on …

A group of ex-Greensill Capital employees sued the defunct firm in London, accusing management of unfairly keeping them in the dark about the company’s “imminent danger of collapse.” A group of 277 employees — less than half the UK workforce …

Conspiracy theorist Alex Jones repeatedly “lied and attacked the parents of murdered children” when he told his Infowars audience that the Sandy Hook Elementary School shooting was a hoax, an attorney for one of the victim’s parents said Tuesday at …

Steve Menzies, chairman of Applied Underwriters, announced the formation of Applied Entertainment & Sports, a new division of the company that will consolidate existing business and add substantial new business in an innovative and aggressively postured entertainment and sports unit …

Insureds cannot recover damages from the insurance company if they failed to comply with the policy and allow the insurer to make the needed repairs, a Florida appeals court decided Wednesday. Florida’s 3rd District Court of Appeal upheld without comment …

Written premium for 2021 was 1.4% below that for 2020 and is the lowest since 2012, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California issued its quarterly report on written premium, which declined sharply beginning in …