Personal Lines
Insurance/Reinsurance Rate Hikes in 2018 Are Increasingly Likely: Morgan Stanley
Rate hikes are on the way for reinsurers and insurers, Morgan Stanley asserts in a new research note, echoing predictions of others in the wake of record catastrophe losses for 2017. Morgan Stanley ...
New Explosion of Calif. Wildfires Threatens Homes and More
Once again, thousands are fleeing wildfires in California. And, once again, the worry on Wall Street is that a major electric utility might end up on the hook for the damages. Shares of Edison ...
Wells Fargo Risks Calif. Suspension of Licenses Over Insurance Sales Practice Controversy
The California Department of Insurance is seeking to suspend or revoke Wells Fargo & Co's licenses for alleged improper insurance sales practices related to the company's online insurance ...
FEMA Plans Reinsurance Claim to Recover $1B-Plus in Hurricane Harvey-Related Losses
The Federal Emergency Management Agency said it plans to submit a claim to recover $1.042 billion in reinsurance coverage under its 2017 Reinsurance Program. FEMA also is working to nail down a new ...
Law Enforcement Urged to Play Stronger Role in Dangerous Drone Use Prevention
Law enforcement authorities must play a strong role to ensure there are suitable deterrents in place for those flying recreational drones to prevent danger to passenger aircraft, the International ...
Trump Administration Disbands Cross-Agency Group Focused on Climate Change Prep
The Trump administration has terminated a cross-agency group created to help local officials protect their residents against extreme weather and natural disasters. The Community Resilience Panel for ...
Willis Towers Watson Closes Sale of Telematics Tech to Octo
Willis Towers Watson has completed the sale of its usage-based insurance assets to Octo Telematics, a U.K.-based telematics company focused on the auto insurance industry. Both sides first announced ...
Direct Line’s Discount Encourages Switch to Tesla Autopilot System
Britain's largest motor insurer Direct Line is offering Tesla Inc drivers in Britain a 5-percent discount for switching on the car's autopilot system, seeking to encourage use of a system it hopes ...