Markets
U.S. Commercial Auto Losses Reach Worst Point in a Decade
The U.S. commercial automobile insurance segment's underwriting losses deepened to $4 billion in 2019, the segment's worst loss in 10 years and a continuation of a decade-long trend of worsening ...
Bank of England Tells Banks, Insurers to Press Ahead With Analyses of Climate Change Risks
The Bank of England (BoE) has told banks and insurers to press ahead with analyzing the impact of climate change on their operations, saying that guidance published on Monday would be followed by ...
FCCI Names Welch as CEO, Replacing Johnson, Who Was Fired in May
FCCI Insurance Group's board of directors has named Christina "Cina" Welch as president and CEO, replacing Craig Johnson, who was terminated from his role in May 2020 after an incident with police in ...
Tesla Suit Alleges Model 3’s Airbags Malfunctioned in Highway Crash
Tesla Inc. was sued over a Maryland highway crash last year in which a Model 3's airbags failed to deploy, leaving a college professor with brain damage. Elon Musk, the company's co-founder, has ...
Environmental Groups Want Miners to Buy Private Insurance for Tailings Dams
Mining companies should be required to buy private insurance for tailings dams and their board of directors should be held legally responsible for any disasters, a coalition of 140 environmental ...
Autonomous Trucking Technology Is Here—Are Commercial Insurers Ready?
June 16, 2019, was a seemingly normal day on Florida's Turnpike in Orlando. Minivans were filled with families on their way to Disney; local Floridians were going about their daily routines. But ...
Nationwide Becomes Fully Independent Agency Carrier on July 1
Nationwide said it will complete an 18-month transition on July 1 to operate as a fully independent agency carrier. With that milestone date, more than 99 percent of the company's formerly captive ...
German InsurTech Friendsurance Turns to Debt Financing as Funding Alternative
Many InsurTech startups pursue venture capital or equity financing to fuel their growth (the sale of stock to investors who gain ownership interest in return). Germany's Friendsurance recently took a ...