Commercial Lines
Uber Driverless Auto Pilot Program Rolled Out in Pittsburgh
When Pittsburgh woke up on Wednesday morning, some residents started having the choice of going about their day in an Uber that drives itself. The launch of Uber's self-driving pilot program marks ...
Executives On The Move at Lloyd’s of London, Sompo Canopius Re and PartnerRe
Lloyd's of London is hiring a former longtime RSA executive. Sompo Canopius Re named a new head of operations in Continental Europe. PartnerRe is bringing on a former Willis Re executive to be its ...
As Terrorist Attacks Shift Focus, P/C Carriers Must Broaden Their Cover: Guy Carpenter
The property/casualty industry must expand its terrorism-related cover to address a shift in how terrorist attacks are being conducted, a Guy Carpenter executive said. Recent ISIS or ISIS-inspired ...
New York Issues First-of-Their-Kind Cyber Regs for Insurers and Banks
New York Governor Andrew Cuomo on Tuesday issued long-anticipated proposed cyber security regulations for banks and insurers in the state, the first of their kind in the United States by any state or ...
The Trial of Ex-AIG Chairman Hank Greenberg Finally Begins
Opening arguments began on Tuesday in the trial of former American International Group Inc chairman Maurice "Hank" Greenberg over accounting fraud at the insurance giant some 16 years ago. Greenberg, ...
Lloyd’s Chairman to Reinsurers: Target Brokers’ Fees to Cut Costs
Reinsurers, forced to cut prices for four years in a row, should target brokers' fees as the industry seeks to reduce costs, according to Lloyd's of London Chairman John Nelson. The brokers need to ...
“Danger Phase” May Be Next for P/C Industry Loss Reserves
Property/casualty insurers and reinsurers have released redundant liability reserves into their earnings for the past eight years as a result of favorable loss development. This practice has worked ...
Allstate CEO Sees Transport Advances Leading to Unrivaled Chance for Wealth Creation
Allstate Corp., the largest publicly traded U.S. home and auto insurer, said the country's transportation network is highly inefficient, with vehicles sitting idle for most of the day, and that the ...