Underwriting
Wrecked SUVs Gain New Life in $900B Aftermarket
Mike Rosser, a 41-year veteran of the salvage car business, remembers a day when auctions for junked cars drew 30 guys standing in the sun, inspecting mangled cars for intact alternators and ...
Insurers, Other Finance Firms Get 15-Month Regulatory Grace Period if No-Deal Brexit
British regulators will give banks, asset managers, insurers and brokers until mid-2020 to fully comply with rules that replace European Union law in the event of a no-deal Brexit. The Bank of ...
Liberty Mutual’s 2018 Net Income Rebounds Significantly Higher
Liberty Mutual Holding Co. and its subsidiaries reported net income of $249 million for the fourth quarter 2018 and $2.16 billion for the full year 2018, increases of $44 million and $2.14 billion ...
Wells Fargo Discloses Rising Legal Risks as Sales Abuse Settlement Talks Proceed
Wells Fargo & Co. boosted an estimate for potential legal losses by $500 million while disclosing that it's in early talks to resolve another round of probes into sales abuses at its branches. ...
California Utility Takes $10.5B Hit Due to Wildfires, Says Line Likely to Blame
PG&E Corp., the bankrupt California utility owner, reported its biggest loss ever and said it's "probable" its equipment will be blamed as an ignition point for the deadliest wildfire in ...
BlackBerry Accuses Twitter of Patent Infringement
BlackBerry Ltd on Wednesday filed a patent infringement lawsuit accusing Twitter Inc of illegally using technology in its mobile messaging applications that had been developed by the former ...
2018 Was the Third Consecutive Year of U.S. P/C Net Underwriting Losses: A.M. Best
The U.S. property/casualty insurance industry booked an estimated $12.1 billion net underwriting loss in 2018, the third consecutive year it landed in the red, according to a new A.M. Best market ...
Berkshire Hathaway Confirms Sale of Workers Comp Unit; ‘Channel Conflict’ to Blame
In a rare move, Berkshire Hathaway is selling one of its companies, leading workers' compensation specialist Applied Underwriters, in order to avoid conflict with its other workers' compensation ...