The California Labor Commissioner’s Office has filed separate lawsuits against transportation companies Uber and Lyft for committing wage theft by misclassifying employees as independent contractors. Uber and Lyft have misclassified their drivers, which has deprived these workers of a host …
Liberty Mutual Holding Co. reported a net loss of $320 million for the second quarter versus net income of $397 million for the same quarter last year. The loss reflected the impact of COVID-19, catastrophes and the economic downturn, according …
United Valley Insurance Services Inc. has added as new member in Kulchin Ross Insurance Services LLC Tarzana, Calif. Kulchin Ross Insurance Services was founded in 2011 when owners Bill Kulchin and Derek Ross joined forces with more than 40 years …
German reinsurance group Munich Re posted a 42% decline in second-quarter net profit, with around 700 million euros ($832 million) in losses related to the coronavirus pandemic in the period. The company, which had already announced preliminary earnings in July, …
Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based broker, announced the acquisition of Edmonton, Alberta-based Insight Insurance & Risk Management Ltd. Terms of the transaction were not disclosed. Founded in 2013, Insight is a retail insurance broker serving clients …
The devastating explosion at the Beirut’s port on Tuesday, Aug. 4 caused many casualties and considerable damage, but local insurance penetration rates in Lebanon generally are low, said AM Best in a market commentary. For the international market, however, marine …
DARAG Group Ltd., the Malta-based legacy acquirer, announced the acquisition of Arisa Assurances SA, an automobile and travel insurance company based in Luxembourg. The transaction will be conducted through DARAG’s German risk carrier, DARAG Deutsche Versicherungs-und Rückversicherungs-AG, and is subject …
Ed, the London-based reinsurance, wholesale and specialty broker, announced the appointment of Assad Ulhaq as senior broker and producer with immediate effect. In this role Ulhaq will focus on international property facultative reinsurance, primarily in Europe, the Middle East and …
Pie Insurance, a technology-driven workers’ compensation provider for small businesses, has a new portal that it says makes it easier for agents to submit their workers’ compensation accounts and track their status in real time. Pie said the portal features …
Oneglobal Broking, the London-based broker, announced the establishment of Oneglobal Group Asia and that its first operating company, Oneglobal Broking Hong Kong Ltd., has received regulatory approval from the insurance authority. Asian broking leader Anthony Langridge has been appointed chairman …