Commercial Lines
State Auto Lost $24.6M in Q2; Catastrophe and Auto Losses to Blame
Higher catastrophe and auto losses helped drive State Auto Financial Corp.'s 2016 second quarter into the red. The Columbus, Ohio-based super regional insurer reported a second quarter 2016 net loss ...
Designers on Apple’s Side in Samsung Patent Fight
Apple Inc deserved the hundreds of millions of dollars in damages Samsung Electronics Co Ltd paid for infringing patented designs of the iPhone, because the product's distinctive look drives people ...
UK Insurers RSA, Aviva Shake off Brexit Fallout With Higher Profits
Insurers Aviva Plc and RSA Insurance Group Plc shrugged off any fallout from the Brexit referendum by reporting higher first-half profit and increasing shareholder payouts. The shares rallied in ...
Guidewire Software Grabbing FirstBest for $34M in Commercial Risk Biz Expansion
California's Guidewire Software plans to snatch up FirstBest Systems for $34 million in cash, a deal it said will boost its capacity to serve property/casualty insurers focused on complex commercial ...
China Floods Caused $33B in Economic Damage in July; Insurance Covered Little
Floods caused $33 billion in economic damage in China through July, but very little is covered by insurance, according the new catastrophe report from Aon Benfield's Impact Forecasting. Barely 2 ...
Western European Insurers, Hammered by Low Interest Rates, Slow to Revamp Investments
Insurers in Western Europe have generally stayed the course with their investment mixes in recent years, even as they've been hammered by record-low interest rates, Standard & Poor's Global ...
AIG CEO Peter Hancock: ‘We Still Have a Long Way to Go’
In AIG CEO Peter Hancock's bid to reshape the struggling insurance giant and restore its fortunes, he exceeded (admittedly low) expectations, at least for the 2016 second quarter. But he also made an ...
Ironshore Unveils Coverage for Construction Project Owners
Ironshore has started marketing new coverage for construction project owners. The insurer's Specialty Casualty division will sell the insurance – dubbed Owners Protective Professional Indemnity. ...