Reinsurance
U.K. Insurers Accused of Not Supervising External Salespeople
The Financial Conduct Authority will write to chief executives of U.K. insurers after it found "widespread" evidence that companies are failing to supervise external salespeople. More than half of ...
Best Revises Lloyd’s Outlook to Stable from Positive on Difficult Business Conditions
A.M. Best has revised the outlooks to stable from positive of Lloyd's and Lloyd's Insurance Co. (China) Ltd., while at the same time affirming their financial strength rating (FSR) of A (Excellent) ...
Counts Reduced Against Group Charged in BP Oil Spill Fraud Case
A Texas lawyer and six co-defendants are now facing a reduced indictment of 73 charges, instead of 95, at federal trial on accusations that they faked more than 40,000 damage claims after the BP oil ...
The U.S. Accounted for Nearly Half of H1’s Global Insured Losses
Preliminary global economic losses reached US$98 billion during the first half of 2016, while global insured losses hit US$30 billion – their highest levels since 2011, according to Impact ...
Female Execs See Progress in Diversifying Insurance Workforce: IICF Survey
Perceptions may remain that the insurance industry is still overwhelmingly male, but a new survey shows that some insiders see progress. Approximately 87 percent of respondents said that their ...
Insurers Will Gain by Innovating for the Internet of Things
The steady advance of the internet of things (IoT) presents a huge number of opportunities for insurers – as well as threats, according to a digest published by Efma*. The rise in connected homes, ...
Smart Car-Makers Could Outmaneuver Traditional Auto Insurers
As Internet-connected and, eventually, driverless vehicles roll off production lines, traditional motor insurers need to adapt to ward off competition from car manufacturers. Insurers have struggled ...
Lawsuit Accuses VW ‘Top Brass’ of Orchestrating Emissions Cheating Years Ago
Volkswagen AG Chief Executive Officer Matthias Mueller became aware of emissions cheating a decade ago as part of a broad conspiracy orchestrated by "top brass," according to lawsuits filed by U.S. ...