Latest Business Insurance Headlines
All the headlines from our Business Insurance Topic Page, ordered by recency.
Global Commercial Insurance Rates Rise 15% in Q3 as Moderation Continues: Marsh
Oct 26 2021 // Global commercial insurance prices increased 15% in the third quarter of 2021, which was the same rate of increase recorded in the previous quarter, according to the Global Insurance Market Index released by insurance...
Large Private Employer Coalition Creates Pharmacy Benefit Management Firm
Oct 25 2021 // A nonprofit coalition of nearly 40 private employers, including U.S. retailers Walmart and Costco, said on Monday it has launched a new company that would offer pharmacy benefit management (PBM) services for...
Employers in Qatar to Be Required to Provide Health Insurance for Expatriates
Oct 22 2021 // DOHA – Employers in Qatar will be required to provide health insurance coverage for expatriates and their families under a new law issued by the emir this week, a senior Qatari official said on Thursday. The huge number...
3 States Could Lose Their Workplace Safety Authority for Refusing COVID Rules
Oct 21 2021 // The Biden administration threatened Tuesday to revoke the authority for three Republican-controlled states to handle their own workplace safety enforcement because they have refused to adopt rules to protect health care...
Unvaccinated Employees Risk Job Losses as Employer Mandates Take Effect
Oct 20 2021 // Thousands of unvaccinated workers across the United States are facing potential job losses as a growing number of states, cities and private companies start to enforce mandates for inoculation against COVID-19. In the...
Illinois Construction Contractor Cited for Workplace Hazards; Fined $229.7K
Oct 15 2021 // For the sixth time in seven years, a federal workplace inspection has found a Roselle, Illinois, construction contractor putting workers at risk of serious injury or death by defying federal requirements to ensure the use...
Texas Governor’s Vaccine Mandate Ban ‘Puts a Big Burden on Employers’
Oct 13 2021 // Companies doing business in Texas now face new and complicated challenges after Gov. Greg Abbott this week banned COVID-19 vaccine mandates for all entities in the state — including private businesses — for employees...
Verisk Using AI to Gain Underwriting Insights From Yelp Reviews of Small Businesses
Oct 8 2021 // Global data analytics provider Verisk is leveraging artificial intelligence and image analytics to generate underwriting insights for small business insurers from more than 200 million reviews on Yelp, the company...
Jury Orders Tesla to Pay $130M to Former Worker Over Racially Hostile Workplace
Oct 5 2021 // A federal jury on Monday has ordered Tesla Inc to pay more than $130 million in damages to a Black former worker, finding he was subjected to a racially hostile work environment, the Wall Street Journal reported. The jury...
Beyond the Headlines: Workplace Violence and Workers’ Compensation Claims
Oct 4 2021 // Whenever a legal dispute arises as to insurance coverage, the court will evaluate policy language to determine if a specific cause of loss constitutes a covered event under the terms of that policy. When workers’...
Middle Market Firms Miss Out on Agents as Risk Management Resource: Survey
Oct 4 2021 // Many middle market companies are failing to use a key risk management resource: their insurance agents and brokers. According to a survey sponsored by insurer Chubb, only 15% of middle market companies rely heavily on an...
People Moves: Risk Strategies Names Schmidt West Commercial Lines Leader; Lockton Names McGrath VP in California
Oct 1 2021 // Risk Strategies named Jim Schmidt as commercial lines leader for the West region. Schmidt will be responsible for building a regional strategy for the commercial property/ casualty business unit. Schmidt has more than 25...
Middle Market Firms Miss Out on Agents as Risk Management Resource: Survey
Sep 27 2021 // Many middle market companies are failing to use a key risk management resource: their insurance agents and brokers. According to a survey sponsored by insurer Chubb, only 15% of middle market companies rely heavily on an...
HSB Canada Introduces Cyber Coverage for Small Businesses
Sep 22 2021 // HSB Canada, part of Munich Re, has introduced HSB Cyber Suite, a comprehensive collection of cyber insurance and services designed to protect small and medium-size businesses from cyber-attacks, data breaches, identity...
Union Sues to Overturn Trump-Era Rule that Narrowed Definition of ‘Joint Employer’
Sep 21 2021 // The union behind the “Fight for $15” movement is suing to overturn a Trump-era rule that makes it harder to hold companies like McDonald’s Corp. and Amazon.com Inc. accountable for violations of...
Insurtech Foxquilt Raises $8M to Expand Small Business Offering in U.S. and Canada
Sep 20 2021 // Foxquilt, a Toronto-based insurtech, announced it has raised an $8 million financing round led by Luge Capital with participation from AmTrust Financial, Extreme Venture Partners and Side Door Ventures. The new capital...
Commercial Auto Insurance Profitability Still Way Down the Road: S&P
Sep 20 2021 // U.S. commercial auto insurers face some blips and disruptions on their road to profitability due to inflation and the spotty post-pandemic economic recovery. According to a Standard & Poor’s Global Ratings...
Alera Acquires The Brokerage Commercial Insurance Services in California
Sep 17 2021 // Alera Group acquired The Brokerage Commercial Insurance Services Inc. in in Newport Beach, Calif. The Brokerage Commercial Insurance Services employees will continue serving clients in their existing roles. Terms of the...
Great American Introduces Home-Based Business Coverage
Sep 17 2021 // Great American Insurance Group has introduced a new product offering through PolicySweet, its online offering for small business customers. PolicySweet, which allows small business owners to research, shop, quote and...
UK COVID-19 Business Insurance Payouts Top One Billion Pounds
Sep 16 2021 // Small companies in Britain, which demanded that their insurers cover claims for losses accrued during the COVID-19 pandemic, have received more than one billion pounds ($1.4 billion) in full and interim business...
