Underwriting
Rain and Floods Shaped Allstate’s May Catastrophe Losses
Allstate said it handled estimated pre-tax catastrophe losses for May that reached $178 million, the bulk of which came from four severe weather events. The number actually hit $180 million, pre-tax ...
Buffett’s Berkshire Hathaway Grabs $388M Stake In Australia Insurer
Warren Buffett's Berkshire Hathaway Inc. will pay A$500 million ($388 million) for a stake in Insurance Australia Group Ltd. as part of a plan to expand in the region. The agreement will give ...
Long-Term Stability of Reinsurance Market Questioned
The reinsurance market is moving from coverage of acts of God to one that covers commoditized risks – an evolution that could have long-term implications for market stability and trading ...
Steering Wheels, Brakes Gone From Driverless Cars: Google’s Cerf
When Google started reporting accident statistics for its driverless cars in May, the technology giant learned something important that it has incorporated in the second iteration of its vehicles, ...The Hartford Targets Small Businesses With New Professional Liability Endorsement
The Hartford is targeting small businesses with a new professional liability endorsement. Plans call for adding the coverage to the Connecticut-based insurer's business owner's policy. The Hartford ...
Tropical Storm Bill Will Bring More Floods to Super-Soaked Texas
No matter exactly what path it takes, Tropical Storm Bill is going to cause trouble in Texas this week and maybe longer. Bill will send flooding rains across the eastern part of the state, including ...
Willis: IT Costs Trump Cyber Concerns For Financial Services Firms
Rising costs for information technology infrastructure pose greater concerns for financial services firms than regulation or cyber attacks, a survey showed on Monday. IT costs came second only to ...
Philadelphia Insurance Acquires New York Accident & Health MGA
Philadelphia Insurance Companies is acquiring a managing general agent for group accident & health insurance, a deal that gives it new platform from which to sell its core offerings. The ...