Commercial Lines
$11+ Million a Day in U.K. Flood Insurance Claims, Says ABI
Insurance claims from the recent spate of floods in the U.K. are averaging $11.18 million a day, according to the Association of British Insurers (ABI). The "wettest winter on record is likely to ...
Businesses, Insurers Disagree on Boston Bombing Payouts
Some businesses that reported financial losses as a result of the Boston Marathon explosions are still wrangling with their insurance companies over compensation or have had claims denied outright as ...
James River Insurance Policy to Cover Uber Insurance Gap
Ridesharing company Uber on Friday said it has new insurance to cover a gap between personal and commercial policies when drivers are using the app-based ridesharing service, while the company's CEO ...
A.M. Best Downgrades Public Service, Affiliates Pending Re for Adverse Development
A.M. Best has downgraded the financial strength rating of Public Service Insurance Co. and its affiliates, Paramount Insurance Co. and Western Select Insurance Co., to "B+" (Good) from "B++" (Good) ...
Emerging Risks Pose Serious Challenges to Marine Industry: Allianz
An increasingly difficult operating climate for ship operators has forced a number of innovations, including larger ship sizes to capitalize on economies of scale, the use of alternative fuels and ...
Uber Expands Insurance Coverage for Ridesharing Drivers
UberX on Friday expanded the insurance coverage it offers to ridesharing drivers, a step toward easing the concerns of U.S. regulators and lawmakers and creating broader acceptance of the services. ...
Workers Comp Needs to Catch Up With Health Care Changes: Economist Gruber
Workers compensation must align itself with the rest of the changing health care system to avoid increased cost-shifting by workers and medical providers, according to an economist involved in the ...
Private Equity, Insurance Execs Team Up on Earthquake Insurer Startup
Genstar Capital Management, LLC, a middle market private equity firm announced Wednesday that it has partnered with insurance industry veteran David M. "Mac" Armstrong to set up an earthquake ...