Torrential rain triggered heavy flooding in Indonesia’s capital Jakarta and nearby cities, affecting more than 60,000 people and shutting down shops and factories. At least 1,500 people were displaced by heavy downpour that started Monday, the National Disaster Mitigation Agency …
Floods in Indonesia’s Capital Displace Thousands, Shut Factories Read More »
Marsh, the insurance brokerage business of Marsh McLennan, announced that it has acquired Fontana Rava-Toscano & Partners (FRT), a Milan-based insurance brokerage. Terms of the acquisition were not disclosed. Founded in 1992 by the current partners together with Giancarlo Fontana …
Marsh Acquires Milan-Based Brokerage Fontana Rava-Toscano & Partners Read More »
A forklift driver for Frito-Lay who injured his achilles tendon playing in a company basketball game is not covered by workers compensation. The Virginia Workers Compensation Commission (VWCC) upheld the denial of benefits because the employee’s voluntary participation in the …
Frito-Lay Employee’s Injury in Hoops Tourney Ruled Out of Bounds for Workers Comp Read More »
Australia’s largest property and casualty (P/C) insurers should be well placed to manage claims stemming from tropical cyclone Alfred, which could surpass A$2billion (US$1.3 billion), according to a report published by S&P Global Ratings. While the path and strength of …
Australia’s Insured Losses From Cyclone Alfred Could Top A$2Billion: S&P Read More »
AM Best has downgraded the Financial Strength Rating to A (Excellent) from A+ (Superior) and the Long-Term Issuer Credit Ratings to “a+” (Excellent) from “aa-” (Superior) of Vermont Mutual Insurance Co. and its fully reinsured subsidiaries, Northern Security Insurance Co., …
AM Best Downgrades Vermont Mutual to ‘A’ Rating; Cites Improvements in 2024 Results Read More »
With its 2024 combined ratio falling comfortably more than 7 points below a targeted level of 96, Progressive has room to deal with the impacts of tariffs on car repair and replacement costs, the chief executive said. But that doesn’t …
Progressive’s Margins Leave Room for Tariff Impacts: CEO Read More »
The Consumer Financial Protection Bureau dismissed another Biden-era lawsuit, this one targeting some of the world’s largest banks for allegedly rushing out a peer-to-peer payment network that then allowed fraud to proliferate. The agency dropped the case against JPMorgan Chase …
CFPB Drops Suit Against US Banks Over Alleged Fraud on Zelle Read More »
Texas reported 13 new cases of measles Tuesday even as the US Centers for Disease Control and Prevention is sending a team of epidemiologists and doctors to help the state with the growing outbreak. The state has now reported a …
Texas Reports 13 New Measles Cases as CDC Arrives in State Read More »
Fifteen years ago on February 27, a devastating 8.8 magnitude quake struck southern Chile off the coast of Concepcion, shaking the ground for four minutes and unleashing a tsunami that left 550 dead. It was the deadliest natural disaster in …
Scientists Predict Major Quake in Chile’s Mineral-Rich North Read More »
Millions of Australians are bracing for a direct hit from a tropical cyclone heading toward the nation’s third-biggest city, with the storm already forcing evacuations and closing ports and schools throughout Queensland. Tropical Cyclone Alfred, a category 2 cyclone, was …
Cyclone Forces Australian Evacuations as Brisbane Braces for Hit Read More »
