Commercial Lines
Insurers Risk Falling Behind in Financial Sector Technology Race
At a time the financial sector is racing to embrace digital technology to boost sales and drive profits, the traditionally staid insurance industry is in danger of falling behind. Some insurers are ...
BP Can’t Access $750M Transocean Cover For 2010 BP Spill
BP Plc isn't covered under Transocean Ltd.'s insurance policies for the doomed Macondo well project, the Texas Supreme Court said, blocking the oil company's access to $750 million to pay costs from ...
Hacker Group Stole Up to $1B Since 2013: Computer Security Firm
A hacker group has stolen as much as $1 billion from banks and other financial companies worldwide since 2013 in an "unprecedented cyber-robbery," according to computer security firm Kaspersky Lab. ...
AIG CFO David Herzog: Congress Was ‘Wise’ to Renew TRIA
The property/casualty insurance industry was without a federal terrorism reinsurance program for about two weeks, between its expiration on Dec. 31, and long-awaited Congressional action to renew it ...
AIG Under New CEO Hancock Reports a Mixed Q4
Insurer American International Group Inc reported lower-than-expected fourth-quarter earnings on Thursday, hurt by the performance in its corporate category. AIG also declared a dividend of $0.125 ...
Amica Mutual CEO: 2014 Was When ‘Everything Came Together’
Amica Mutual Insurance Co. boosted its net income, added 46,000 more policies and improved its combined ratio in 2014, the insurer disclosed this week. "It was a year everything came together," Amica ...
Senator Warns Smart Cars Vulnerable to Hackers
Automakers are adding wireless technologies into vehicles without enough protection to keep hackers from interfering the operation of a car or stealing personal information, according to a report by ...
Obama Plan to Create Anti-Hacker Agency May Worsen Bureaucracy
President Barack Obama's plan to create a new agency to combat hackers may improve information sharing between government and industry, although it adds to a security bureaucracy that some have ...