Commercial Lines
Expect Up to $19B in Losses With a U.S. Cloud-Computing Failure
A cyber problem that temporary shuts down a top U.S. cloud computing provider could trigger as much as $19 billion in business losses, only a fraction of which would be insured, Lloyd's of London ...
Travelers Produces a Q4 Profit Despite Catastrophe and Tax Cut Hits
Travelers took a big Q4 hit from a tax-cut-related charge and catastrophe-related expenses but still pulled in a profit. The insurer booked $551 million in net income, or $1.98 per share, during the ...
U.S. Commercial Auto Rate Hikes Thus Far May Not Reverse Losses: A.M. Best
The U.S. commercial automobile insurance segment saw big rate jumps in the first three quarters of 2017, but they may not be enough to reverse underwriting losses, A.M. Best said in a new report. ...
Looming EU Data Law Spurring Booming Demand for Privacy Experts
Business is booming for software and privacy experts as companies across the globe spend millions of dollars to comply with a landmark European data protection law, even as many uncertainties remain ...
U.S. Threatens to Sue Generic-Drug Makers in Price-Fixing Probe; Shares Fall
Shares of generic-drug makers including Mylan NV and Teva Pharmaceutical Industries Ltd. fell after the Justice Department's antitrust division said it might sue them for damages in a price-fixing ...
Most UK Lawmakers See Staying in EU Market as Honoring Brexit
A majority of U.K. lawmakers think that remaining in the European Union's single market is compatible with honoring the Brexit referendum result, according to a survey of members of parliament. The ...
Liberty Mutual Will Sell Life Biz to Lincoln Financial for $3.3B; P/C Operations Reorganized
Liberty Mutual is getting out of the life insurance business, and the insurer will reorganize in order to better focus on its remaining P/C businesses. The Boston-based global insurer said it will ...
After Validus, AIG CEO Duperreault Envisions Select, Strategic Acquisitions
American International Group's newly announced plan to pay nearly $5.6 billion for Validus Holdings is likely just the beginning of the insurer's acquisition goals in the coming months. AIG President ...