Markets
Insurers, Other Finance Firms Get 15-Month Regulatory Grace Period if No-Deal Brexit
British regulators will give banks, asset managers, insurers and brokers until mid-2020 to fully comply with rules that replace European Union law in the event of a no-deal Brexit. The Bank of ...
Carriers Fall Short in Key Areas of the Property Claims Process: J.D. Power
Property insurers are falling short in some key areas of the claims process even as they earn high marks for overall customer satisfaction, according to the J.D. Power 2019 U.S. Property Claims ...
Executives On The Move at Chubb and The Hanover Insurance Group
Chubb Ltd. appointed a new treasurer, replacing a long-time executive. The Hanover Insurance Group expanded its specialty leadership team. *** Chubb Limited appointed Mark Hammond as treasurer, ...
Liberty Mutual’s 2018 Net Income Rebounds Significantly Higher
Liberty Mutual Holding Co. and its subsidiaries reported net income of $249 million for the fourth quarter 2018 and $2.16 billion for the full year 2018, increases of $44 million and $2.14 billion ...
Wells Fargo Discloses Rising Legal Risks as Sales Abuse Settlement Talks Proceed
Wells Fargo & Co. boosted an estimate for potential legal losses by $500 million while disclosing that it's in early talks to resolve another round of probes into sales abuses at its branches. ...
California Utility Takes $10.5B Hit Due to Wildfires, Says Line Likely to Blame
PG&E Corp., the bankrupt California utility owner, reported its biggest loss ever and said it's "probable" its equipment will be blamed as an ignition point for the deadliest wildfire in ...
BlackBerry Accuses Twitter of Patent Infringement
BlackBerry Ltd on Wednesday filed a patent infringement lawsuit accusing Twitter Inc of illegally using technology in its mobile messaging applications that had been developed by the former ...
2018 Was the Third Consecutive Year of U.S. P/C Net Underwriting Losses: A.M. Best
The U.S. property/casualty insurance industry booked an estimated $12.1 billion net underwriting loss in 2018, the third consecutive year it landed in the red, according to a new A.M. Best market ...