Underwriting
Musk Paid Nearly $1M by Tesla for His Controversial D&O Insurance Arrangement
Tesla Inc. is making a one-time payment of almost $1 million to Chief Executive Officer Elon Musk related to a controversial insurance arrangement he agreed to with the carmaker's board earlier this ...
Lloyd’s Advocates State-Backed ‘Black Swan’ Reinsurance
"Black Swan" reinsurance schemes backed by governments could help businesses get insurance pay-outs after huge shocks such as the coronavirus pandemic, Lloyd's of London said. Commercial insurance ...
U.S. Commercial Auto Losses Reach Worst Point in a Decade
The U.S. commercial automobile insurance segment's underwriting losses deepened to $4 billion in 2019, the segment's worst loss in 10 years and a continuation of a decade-long trend of worsening ...
Bank of England Tells Banks, Insurers to Press Ahead With Analyses of Climate Change Risks
The Bank of England (BoE) has told banks and insurers to press ahead with analyzing the impact of climate change on their operations, saying that guidance published on Monday would be followed by ...
Tesla Suit Alleges Model 3’s Airbags Malfunctioned in Highway Crash
Tesla Inc. was sued over a Maryland highway crash last year in which a Model 3's airbags failed to deploy, leaving a college professor with brain damage. Elon Musk, the company's co-founder, has ...
Drivers Sped During Lockdowns, Making Car Crashes Deadlier
Coronavirus lockdowns led to huge reductions in traffic and fewer car crashes this spring, but as drivers sped up on quieter roads, the collisions became deadlier in several cities, a Reuters ...
New Flood Risk Maps Designed to Address Major Government Deficiencies
First Street Foundation, a nonprofit agency, is making accurate climate change-adjusted flood scores available for every property in the U.S. today. There are government-produced maps showing 8.7 ...
Liberty Mutual’s Safeco, Heritage Insurance to Take Over AIG’s Upper Middle Market Biz
American International Group is transferring part of its personal insurance business for upper middle market clients to Liberty Mutual's Safeco Insurance and Heritage Insurance Holdings, a ...