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Workers compensation insurers aren't getting the large aggregate volumes of COVID-related claims projected during the early months of the pandemic, but different data sources give varying readouts on developments for individual U.S. states and classes of workers. In fact, while claim frequencies are down for workers compensation overall with business shutdowns bringing lower numbers of... read more | |
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A New Orleans judge denied a motion for declaratory judgment that insurance coverage is owed to a restaurant for business income that was lost when it was required to close its dining room because of the COVID-19 pandemic. The lawsuit filed by Cajun Conti LLC against Lloyd's of London underwriters was the first known legal... read more | |
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On March 12, 1928, William Mulholland, Harvey Van Norman and Tony Harnischfeger hiked down the dry-side of the newly-filled St. Francis Dam in California, inspecting worrisome leaks. Mullholland was the mastermind behind Los Angeles' new aqueduct — a 233-mile series of man-made rivers and reservoirs that... read more | |
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QBE officially announced a $1.5 billion bottom-line net loss for 2020 late last week, confirming a figure the Australia-based insurance group preannounced in late mid-December. The result represents nearly $1 billion downward swing from a $522 million net profit reported in 2019. Multiple issues including high catastrophe losses and social inflation pressures in North America... read more | |
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Israeli startup Earnix Ltd., which uses advanced analytics to help insurers and banks offer personalized financial products, reached a $1 billion valuation in a financing round led by Insight Partners. Existing investors Jerusalem Venture Partners, Vintage Investment Partners and Israel Growth Partners joined the New York firm in the $75 million round that vaulted Earnix... read more | |
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As Third Point Re continues to staff up its executive and underwriting teams in advance of an anticipated merger with Sirius International Insurance Group Ltd., the Bermuda-based reinsurer has announced that its chief executive officer will have a different role with SiriusPoint. Dan Malloy, who has been CEO since May 2019, will become President, Global... read more | |
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A group of Uber drivers are entitled to worker rights such as the minimum wage, Britain's Supreme Court ruled on Friday in a blow to the ride-hailing service that has ramifications for millions of others in the gig economy. In a case led by two former Uber drivers, a London employment tribunal ruled in 2016... read more | |
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The largest U.S. oil refiners released tons of air pollutants into the skies over Texas this past week, according to figures provided to the state, as refineries and petrochemical plants in the region scrambled to shut production during frigid weather. An arctic air mass that spread into an area unused to such low temperatures killed... read more | |
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Showers of jet engine parts over residential areas on both sides of the Atlantic have caught regulators' attention and prompted the suspension of some older Boeing planes from service. The Saturday incidents involving a United Airlines 777 in Denver and a Longtail Aviation 747 cargo plane in the Netherlands have put engine maker Pratt &... read more | |
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Over 20.5 million years of life may have been lost due to COVID-19 globally, with an average of 16 years lost per death, according to a study published in Scientific Reports. Years of life lost (YLL)— the difference between an individual's age at death and their life expectancy—due to COVID-19 in heavily affected countries may... read more | |
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When it comes to the best leaders, a slice of humble pie might be just what the CEO ordered, as research from the University of South Australia shows that humility is a critical leadership trait for cultivating cohesive, high-performing teams. It's an interesting finding, especially given that leaders are more commonly aligned with characteristics of... read more | |
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