Ireland’s central bank governor told insurers to urgently honor and pay valid claims related to COVID-19 disruption, following a successful test case in court last week, or risk facing legal action by the regulator. Ireland’s High Court ruled on Feb. …
Finnish financial group Sampo on Thursday reported a fourth-quarter loss as the company booked a 899 million euro ($1.09 billion) impairment charge due to a revaluation of its shares in banking group Nordea. The unexpected earnings hit was offset by …
Zurich Insurance’s new capital target disappointed market expectations on Thursday, even as claims related to the COVID-19 pandemic and higher losses from natural catastrophes bit less than expected into full-year earnings. Insurers have faced hefty claims from event cancellations and …
New York-based municipal bond insurer MBIA Inc.’s unit MBIA Insurance Corp. entered an agreement to settle a litigation it filed in 2009 against lender Credit Suisse and certain affiliated entities over property debt in the United States. The settlement followed …
A Bronx, New York, woman has been arrested and charged with fraudulently obtaining more than $200,000 worth of iPhones from an insurance company. Rosanna Lucrecia Cruel Blanco, 39, was charged by criminal complaint with one count of conspiracy to commit …
The Baltimore County Board of Education has approved more than $1.7 million in contracts for services that were necessary after a ransomware attack on school systems in November. Administrators told board members that they expect the school system’s cyber insurance …
Florida property insurers are jacking up rates by double-digit percentages, blaming the hikes on lingering damage from past hurricanes, a wave of litigation, and a law that encourages lawyers to sue by allowing courts to award them big fees. The …
Amazon.com Inc. on Friday sued New York’s attorney general to stop the state from filing its own lawsuit over the online retailer’s early response to COVID-19, including its firing of activist Christian Smalls. In a complaint in Brooklyn federal court, …
The Georgia state House has voted in favor of extending by one year a law that protects businesses from being sued by a person that blames them for contracting COVID-19. The protection is currently set to expire on July 14. …
Kathy Cody has been appointed president of Orchid Underwriters Agency, LLC (Orchid Insurance), a specialty underwriter of catastrophe-exposed property insurance. Brad Emmons, chief executive officer at Orchid, said Cody, who joined Orchid Insurance in 2019 as chief operating officer, has …
