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Insurance
Insurer introduces digital platform for accident coverage
Great American Insurance Group on Tuesday announced the launch of pomi, a digital platform and website for accident and health insurance. The Cincinnati-based insurer says pomi, an acronym for “peace of mind insurance,” is the company’s…
Hurricane Laura insured losses estimated at close to $9 billion
Insured losses from Hurricane Laura will be close to $9 billion, according to Boston-based catastrophe modeler Karen Clark & Co.
Laura caused some $8.7 billion of losses to onshore properties in the U.S. from wind and storm surge and…
Insurers lose ruling in bar assault case
Insurers are obligated to defend a bar in a situation where a woman was first given suspicious drinks, then assaulted, despite an assault exclusion in its coverage, said a federal appeals court Thursday, in affirming a lower court ruling.…
Audrey Rampinelli joins Mastercard as risk management leader
Longtime risk manager Audrey Rampinelli has joined Mastercard Inc. as senior vice president risk management and insurance services.
Before joining the Purchase, New York-based credit card company this month, Ms. Rampinelli, who has worked…
Allianz loses ruling against apartment management firm
An Allianz unit that waited 18 months after a complaint was filed to reserve its right to disclaim coverage for punitive damages is obligated to pay a $1.95 million punitive damages award, in a case involving a young woman who was injured…
U.S. Insurance Awards winners to be announced at virtual event
Business Insurance will announce the winners of the 2020 U.S. Insurance Awards during a virtual event on Sept. 10.
Hosted by comedian and actor Marina Franklin, the awards presentation will feature the achievements of industry organizations…
Class-action D&O suit filed against vaccine development firm
A putative class-action lawsuit has been filed against a vaccine development company that allegedly issued false information about its COVID-19 vaccine to boost its stock and earned a hedge fund investor $200 million.
In a separate lawsuit,…
Insurer digital interactions double since 2015: ACORD
The percentage of global consumer buyers interacting with their insurers through digitized mechanisms has doubled since 2015, according to a study Wednesday from ACORD, the global standards-setting body for the insurance industry. The…
P/C insurers report sharp decline in first-half net income: A.M. Best
U.S. property/casualty insurers reported a 21.6% decline in net income to $25.0 billion in the first half of this year, as realized capital gains fell $5.5 billion amid the COVID-19 pandemic, A.M. Best Inc. said in a report Tuesday.
Premium…
Swiss Re, Alphabet’s Verily partner on stop-loss insurance
(Reuters) — Alphabet Inc.'s life sciences division Verily is partnering with reinsurer Swiss Re to launch a unit to provide stop-loss insurance, a financial product purchased by employers to cover unexpected and large employee health…