Commercial Lines
VW Reaches $1B Agreement to Settle Emissions-Cheating Scandal Lawsuits
Volkswagen AG took an important step in digging out from its emissions-cheating scandal by reaching a $1 billion agreement to settle lawsuits over tainted 3.0-liter diesel engines. The preliminary ...
U.S. Investigation Blames Facebook’s Big Drone Crash on Autopilot
The wing on Facebook Inc.'s experimental high-altitude drone broke last summer in Arizona after the massive aircraft hit an updraft and its autopilot overcompensated seconds before touchdown on its ...
Every insurer evaluating property risk today is running the same math: more perils, more models, more data sources, and not...
2017 Predictions Part II: InsurTech, Australia D&O and India Cyber Insurance
InsurTech was an insurance buzzword in 2016, and that's likely to continue next year when it will permeate almost every aspect of U.S. industry, according to a prediction from international law firm ...
Enstar Debuts KaylaRe, a Reinsurer Focused on Specialty Coverage
KaylaRe is hitting the market, a new carrier focused on global specialty reinsurance coverage backed largely by Enstar. The Class 4, Bermuda-based reinsurer debuts with $620 million in capital, $300 ...
Guidewire Grabbing ISCS for $160M, With an Eye on the Cloud
Guidewire, a software company focused on the P/C industry, will buy a tech outfit specializing in cloud computing for about $160 million in cash. The acquisition also helps it access the small ...
Fitch Places Allied World’s Financial Strength Status on Rating Watch Negative
Fairfax Financial may see huge possibilities in its $4.9 billion agreement to buy Allied World Assurance Co., but Fitch Ratings is responding cautiously to the news. Fitch placed Allied World's 'A+' ...
A $4.9B Allied World Buy Means Watsa’s Fairfax Is Betting on Trump
Prem Watsa, the Canadian investor who just agreed to buy a Swiss company in his largest deal, called the $4.9 billion agreement a bet on U.S. growth under President-elect Donald Trump. The purchase ...