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News – Insurance Journal
Businesses Show They Are No Rush to Resume Busy Travel Schedules
Of the 2 million people clogging airport security lines and gate areas again each day, one crowd is still largely missing: business travelers. Their absence is noteworthy because they are a key source of revenue and profit, underpinning a record-breaking …
POSTED JULY 28, 2021 12:57 PM |
In Opioid Trial Closing, West Virginia Blames Drug Distributors. Distributors Blame Doctors.
CHARLESTON, W.Va. — Lawyers for a West Virginia city and county hard hit by the opioid crisis began wrapping up their case in a $2.5 billion trial on Tuesday arguing major drug distributors flooded the region with the addictive pills, …
POSTED JULY 28, 2021 12:30 PM |
Pressure on Workers to Get Vaccine Grows as Patience Runs Thin for U.S. Employers
As a resurgence in Covid-19 cases prompts more U.S. employers to require vaccinations, workers who object face a common response: Get a shot or get another job. In the past six weeks alone, a federal judge in Texas dismissed a …
POSTED JULY 28, 2021 12:11 PM |
White House Calls Nixing of Aon-Willis Deal ‘Robust Enforcement’ of Antitrust Laws
The White House on Tuesday praised the Justice Department’s successful effort to stop a $30 billion deal that would have created the world’s biggest insurance broker, saying the agency’s work was “robust enforcement of the antitrust laws.” Aon Plc and …
POSTED JULY 28, 2021 11:38 AM |
Peak Re to Buy Remaining 50% Stake in Caribbean Insurance Group NAGICO
Peak Reinsurance Co. Ltd., a Hong Kong-based global reinsurer, announced it has reached a definitive agreement to acquire the remaining 50% issued share capital of the Caribbean insurance group NAGICO Holdings Ltd. Financial terms of the deal were not disclosed. …
POSTED JULY 28, 2021 11:36 AM |
Gunmaker Remington Offers $33M to Sandy Hook School Shooting Victims’ Families
Remington Arms Co. on Tuesday offered to pay nearly $33 million to nine families to settle lawsuits claiming that its marketing of firearms contributed to the 2012 Sandy Hook school massacre in Newtown, Connecticut, where 26 people died. The proposed …
POSTED JULY 28, 2021 11:24 AM |
Claims Adjuster Global Risk Solutions Appoints 4 to Complex Claims Unit in London
Global Risk Solutions Group Inc., the Miami-based P/C claims adjuster, has enhanced its Complex Claims Solutions (CCS) business unit with the addition of four claims professionals in London. These appointments are detailed here: Michael Morgan, head of Energy – Europe, …
POSTED JULY 28, 2021 11:09 AM |
NFP in Canada and Aviation Broker Piiq Risk Form Exclusive Partnership
NFP, a New York-based insurance broker and consultant, announced the formation of an exclusive strategic partnership in Canada with aviation re/insurance broker Piiq Risk Partners. The NFP Complex Risk Solutions Group will provide domestic account servicing in Canada to Piiq’s …
POSTED JULY 28, 2021 9:40 AM |
World Faces Shortage of Sailors for Commercial Ships, Risking Supply Chains: Report
There could be a shortage of merchant sailors to crew commercial ships in five years if action is not taken to boost numbers, raising risks for global supply chains, a report said on Wednesday. The shipping industry is already struggling …
POSTED JULY 28, 2021 8:21 AM |
Insured Losses from July Floods in Germany Could Approach $6B: AIR Worldwide
AIR Worldwide, the Boston-based catastrophe modeling firm, estimates insured losses in Germany from July flooding could approach €5 billion ($6 billion). Low pressure system “Bernd” parked itself over central Europe and brought about significant flooding from July 13 to 18, …
POSTED JULY 28, 2021 7:29 AM |
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