Risk
RBC is Reviewing Its ‘Volatile’ Property/Casualty Insurance Business
Royal Bank of Canada is reviewing its domestic property and casualty insurance business, Chief Executive Officer David McKay said, citing difficulties caused by rules that ban banks from selling ...
A.M. Best: ORSA Won’t Affect Its Ratings Process
A.M. Best said that the new Own Risk and Solvency Assessment (ORSA) requirements taking effect for insurers in the U.S. this year won't affect its ratings process much at all. "Most carrier filing an ...
Insurers Face More FEMA Oversight After Sandy Claims Allegations
Federal disaster relief officials are keeping a closer eye on companies that help it provide flood insurance, following allegations by Hurricane Sandy victims that claims were denied or underpaid ...
Willis Group Brings Custom Insurance Arm to North America, U.K.
Willis Group Holdings said it is taking its affinity or custom insurance business global, with expansion into markets including North America and the U.K. The global risk advisor, insurance and ...
Ridesharing Insurance Legislation Advances in Georgia
A major property/casualty insurance trade group is lauding Georgia legislators' action on a bill mandating insurance coverage for ridesharing companies that covers an existing gap, mirroring similar ...
Urban Sprawl Not Climate Change Driving Flood, Drought Risk to Cities
Researchers from Texas A&M University are giving a heads-up to New York, Baltimore, Houston and Miami in a new study suggesting that these metropolitan areas—and others—will increase their ...
P/C Industry Fills Drone Coverage Void Left By Regulators
Thousands of drones flown without government approval by real estate companies, movie studios and other businesses are getting coverage by insurers writing their own safety rules to fill a void left ...
NAMIC: FAA’s Proposed Drone Rules Raise Liability Concerns
With commercial use of unmanned aerial systems, also known as drones, expected to increase markedly, the door is open for the insurance industry to take on the challenge of insuring this emerging ...