Markets
Fewer Worker Deaths Investigated by OSHA in FY 2024
The Occupational Safety and Health Administration said its enforcement has led to fewer workers dying. OSHA, a part of the Department of Labor, said it investigated 826 worker deaths in fiscal year ...
Lloyd’s of London Shakes Up IT, Operations Teams
Commercial insurance market Lloyd's of London is restructuring its data, operations and change departments, which will involve outsourcing some of those units' work, a Lloyd's spokesperson said on ...
Swiss Re Execs Sleeping Well After $2.4B Q3 Reserve Boost
While a $2.4 billion boost in loss reserves for the third-quarter will help Swiss Re's executives sleep better on a bigger cushion, across the industry, worsening trends in U.S. liability loss costs ...
Allstate Insurers Sue Hyundai, Kia to Pay for Claims From Defective Cars
A group of subsidiaries of Allstate have filed a subrogation suit against Hyundai and Kia to get back costs paid to insureds for damages when their cars suddenly erupted in flames. According to the ...
Hannover Re’s Henchoz to Step Down as CEO, Succeeded by CFO Jungsthöfel
Hannover Re announced that Chief Executive Officer Jean-Jacques Henchoz (60) is stepping down and will be replaced by the current chief financial officer, Clemens Jungsthöfel (54). Henchoz has ...
Renewable Energy Offers a Cost and Opportunity to Insurance Sector
Policyholders in the renewable energy insurance market are paying between 20%-40% more for cover today than a year ago as insurers seek to recover the cost of "devastating claims" in regions hit by ...
AIG CEO Zaffino on Approach to Catastrophe Losses in Today’s Reinsurance Market
American International Group CEO Peter Zaffino said he expects the reinsurance market to remain above losses generated by the frequency and severity of natural catastrophes. Losses will instead ...
NFIP to Begin Taking Monthly Flood Insurance Payments
The National Flood Insurance Program will soon start to accept monthly payments for flood insurance premiums, ending 55 years of requiring full payment upon application or renewal. The Federal ...