Industry News
Executives on the Move at Aspen, QBE, Markel and Safety
Aspen Insurance made a number of new global product leadership appointments. QBE North America hired on an AIG veteran to oversee and grow its risk business. Markel's venture arm promoted an ...
GM Gears Up for Jan. 11 Start of ‘Bellwether’ Ignition Switch Trial
A U.S. judge last Wednesday rejected General Motors Co.'s bid to dismiss the first so-called "bellwether" case over defective ignition switches in its vehicles, clearing the way for a Jan. 11 trial. ...
One Solution to British Flooding Woes: Build Outside Flood Zone
Tighter construction restrictions and incentives to build outside flood-prone areas would minimize damage to the U.K. economy from heavy rain and rising water levels, according to the Centre for ...
China Insurers Launch Investment Firm, Finance Russia Natural Gas Project
More than 40 Chinese insurance companies and asset managers have jointly started an investment firm, raising 40 billion yuan ($6 billion) for a first fund to finance energy and infrastructure ...
U.S. Sues Volkswagen for Cheating on Emissions Testing
The Justice Department sued Volkswagen AG, accusing the German automaker of installing illegal devices meant to defeat emissions testing on nearly 600,000 vehicles, marking another blow against the ...
Natural Disaster Insurance Claims Plunged in 2015, but Climate Change Hurt: Munich Re
Insurers paid out around $27 billion for natural disaster claims last year with weather causing 94 percent of incidents, underscoring the challenge posed by climate change, data from reinsurer Munich ...
Jan. 1 Renewals Continue Reinsurance Downward Pricing Spiral: Willis Re
Reinsurers dealing with Jan. 1, 2016 renewals are seeing continued pricing declines in most cases, with no end in sight to the years-long trend, Willis Re asserted in a new report. The situation is ...
Farmers Debuts Rideshare Insurance in Oklahoma and Ohio
Farmers Insurance has started offering rideshare insurance in Oklahoma and Ohio, a move that dovetails with new laws in both states dictating coverage for ridesharing drivers. Farmers said it worked ...