Global Economy
Tesla Motors Settles Norway Lawsuit Alleging Car’s Performance Fell Short
Electric carmaker Tesla Motors Inc has reached an out-of-court settlement with 126 Norwegian customers who claimed their cars' performance did not match promises made in the firm's marketing. Lawyers ...
Tokio Millennium Re Restructures Third Party Capital Markets Facilitation Arm
A division of Tokio Millennium Re focused on third party capital markets facilitation is changing its management structure in a bid to boost efficiency. The changes are coming to Tokio Solution ...
Munich Re’s von Bomhard Named 2017 Insurance Hall of Fame Laureate
A Munich Re executive has been named the 2017 Insurance Hall of Fame Laureate. Nikolaus von Bomhard is chairman of the Board of Management of Munich Re. He'll be inducted at the July 3 awards dinner ...
NAIC Brings on Former Penn. Commissioner Consedine as New CEO
The National Association of Insurance Commissioners picked a former Pennsylvania Insurance Commissioner as its new CEO. Michael Consedine, who will take on his new role in early 2017, said in ...
SCOTUS Rejects Hank Greenberg’s Fraud Lawsuit Appeal; Mediation to Come
The U.S. Supreme Court turned away an appeal by Maurice "Hank" Greenberg, refusing to derail a fraud lawsuit by New York state against the former American International Group Inc. chairman. Three ...
Zurich to Acquire Australian Travel Insurer Cover for $551M
Switzerland's Zurich Insurance Group has agreed to buy Australia's biggest travel insurance provider, Cover-More Group, for A$741 million ($551 million), stepping up its investment in the Australian ...
Trump Tax Plan Could Boost Berkshire Hathaway Book Value by $29B
Warren Buffett's Berkshire Hathaway Inc. could get a $29 billion boost to its book value under tax-rate cuts advocated by President-elect Donald Trump, according to Barclays Plc. "We would view this ...
Insurability Challenges Hamper Cyber Market Development: Geneva Assoc. Report
While insurance against cyber risk represents a tremendous new business for the insurance industry, numerous problems with the insurability currently impede the development of the market," according ...