Industry News
Fiat Chrysler Ordered to Pay $70M Over Auto Safety Reporting Lapses
The U.S. Department of Transportation said Thursday it is fining Fiat Chrysler Automobiles NV $70 million for failing to report vehicle crash deaths and injuries since 2003. The Italian-American ...
Billionaire Chairman of Ironshore Owner Fosun International Aids Investigation
Fosun International said on Friday its Chairman Guo Guangchang, one of China's best-known entrepreneurs, is assisting authorities with an investigation, after an earlier report said the group lost ...
Industry Catastrophe Prep Largely Up to Snuff But More IT Staff Needed
With nearly universal use of catastrophe plan manuals, property/casualty insurers are largely ready to manage catastrophe claims operations, a new benchmarking report says. But like anything else, ...
Industry On Track for Third Straight Underwriting Profit; 2016 a Closer Call
The property/casualty insurance industry will report an underwriting profit for the third consecutive year in 2015—a streak unmatched since the early 1970s, according to analysts at Fitch Ratings, ...
Berkshire Unit Preps to Selling Workers Comp, BOP Policies on the Web
Berkshire Hathaway Inc. won the top financial-strength rating from A.M. Best Co. for a unit that plans to sell insurance directly to businesses over the Internet, paving the way for Chairman Warren ...
The Three Metrics That Matter Most for Managing Litigated Claims Costs
Insurers place major importance on measuring the costs for litigated files, according to a new LexisNexis industry survey. A sizable majority of respondents say that metrics such as average case ...
Florida Citizens Pushing for Policy Changes
Florida's largest property insurer wants to eliminate caps on rate hikes and limit what homeowners can do if they have water damage. The state-created Citizens Property Insurance Corp. is pushing for ...
OneBeacon Offers Enhanced Cyber Liability Coverage for IT Risks
OneBeacon Technology Insurance has introduced a modular technology professional liability product for cybersecurity and communication liability exposures. Information Technology Solutions—Complete ...