Litigation/Liability Trends
Meet the Modeler: Praedicat’s Boudreau Takes the Road Less Traveled for Actuaries
After working on a nagging insurance industry problem on and off for three decades, an actuary, who is also a software engineer, recently devised the solution—a new model of the occurrence form for ...
Latency Catastrophe and the Occurrence Form
Over the last 30 years, natural catastrophe modeling has transformed property insurance. When Hurricane Andrew devastated Florida in August 1992, seven domestic insurance companies and one foreign ...
New Explosion of Calif. Wildfires Threatens Homes and More
Once again, thousands are fleeing wildfires in California. And, once again, the worry on Wall Street is that a major electric utility might end up on the hook for the damages. Shares of Edison ...
Wells Fargo Risks Calif. Suspension of Licenses Over Insurance Sales Practice Controversy
The California Department of Insurance is seeking to suspend or revoke Wells Fargo & Co's licenses for alleged improper insurance sales practices related to the company's online insurance ...
Brexit May Adversely Effect Legions of Insurance Liabilities, Bank Contracts Without Fix
As far as Brexit headaches go, Barclays Plc's John McFarlane says that while his bank is on top of job relocations, he's more concerned about rewriting "hundreds of thousands" of contracts. He's not ...
Former Justice Dept. Employee Admits Trying to Sell Secret U.S. Whistleblower Suits
A former partner at a major law firm in Washington pleaded guilty on Wednesday to charges that he tried to sell copies of sealed whistleblower lawsuits against corporations that he obtained while ...
U.S. Asbestos Payments Grow in 2016; Incurred Losses Drop: A.M. Best
While U.S. asbestos-related incurred losses dropped in 2016, insurance payments grew 9 percent and hit $3.2 billion for the year, a new A.M. Best report concludes. The $3.2 billion figure exceeds the ...
SCOTUS Seems Reluctant to Broaden Dodd-Frank Whistleblower Protections
Conservative and liberal U.S. Supreme Court justices on Tuesday appeared reluctant to broaden protections for corporate insiders who blow the whistle on securities law violations or fraud by their ...