Commercial Lines
ACE CEO Warns Insurers May be Taking on Too Much Risk Again
Ace Ltd. Chief Executive Officer Evan Greenberg said there are signs the insurance industry is entering another era of taking on too much risk as competition pressures companies to lower prices to ...
Ex-AIG CEO Greenberg Scrambles to Avoid Fraud Trial
In a last-ditch effort to avoid trial, former American International Group Inc Chairman Maurice "Hank" Greenberg is seeking permission to ask New York's highest court to throw out the accounting ...
What Insurance Agents Want from Carriers
Agents like what they get already but see room for improvement in field operations, agent education and marketing support provided by carriers, according to a 2014 national survey of more than 1,400 ...
European Union Renews Effort to Halt U.S. Reinsurance Collateral Rule
The European Union will mount a fresh bid to persuade the United States to free up the billions of euros in collateral it requires foreign re-insurers to set aside against policies. EU states agreed ...
Travelers Expands Share Repurchase as Q1 Net income Drops
The Travelers Companies reported a big drop in net income during the 2015 first quarter, and its combined ratio nudged slightly higher. Executives attributed the results, in part, to a drop in net ...
Insurers Urge FAA to Speed Up Drone Use for U.S. Disaster Response
U.S. companies including insurers and aerospace manufacturers urged federal aviation regulators on Tuesday to speed up the use of drones in disaster response and relief operations in the United ...
Zurich’s Declining Earnings Leads to Desk Sharing, Shrinking Office Space
Zurich Insurance Group AG, Switzerland's largest insurer, is shrinking office space at a key unit and will ask staff to share desks to help reverse a drop in earnings. The steps are needed to help ...
Insurance Outsourcer Patriot National Pays $10M For Software/Services Outfit
A company that handles insurance industry outsourcing in the workers compensation space has snatched up a business that provides software and services to P/C companies. Specifically, Patriot National ...