Industry News
Munich Re Takes Big Tianjin Explosion Hit; XL Catlin, Allied World Impacted Less
Munich Re, XL Group and Allied World are among the latest insurers and reinsurers disclosing catastrophe costs stemming from the Tianjin port explosion in China earlier this fall, and the hits range ...
Zurich Favors Spending Its $3B on Acquisitions; Q3 Net Income Plunges
Zurich Insurance Group would rather invest the company's $3 billion in excess capital on acquisitions than return the cash directly to shareholders, Chief Financial Officer George Quinn said in an ...
Louisiana Citizens Looks to Shed Questionable Insurance Coverage
Louisiana Citizens Property Insurance Corp. may soon end the longstanding, and apparently unique, practice of selling policies that include a $10,000 deductible for non-hurricane damage. Chief ...
Novarica: U.S. Small Commercial Insurance Market Slowly Warming to Online Sales
Few carriers in the U.S. small commercial insurance market are relying on direct online sales right now. But the number is growing, and it could become quite large within the next five years, ...
AIG CEO Reportedly Warns Staff Lifetime Employment Is Not Guaranteed
American International Group Inc. Chief Executive Officer Peter Hancock, who is shrinking the company while fighting off an activist investor, told staff that they can't all count on lifetime ...
AIG, Clemson University Partner to Establish Risk Engineering and Analytics Center
American International Group Inc. announced that it has made an initial $4 million investment with Clemson University to develop a risk engineering and analytics center and to establish the Robert ...
BHSI Has Asia in Sight With New D&O Liability, Professional Indemnity Policies
Berkshire Hathaway Specialty Insurance, with an eye on expanding in Asia, is marketing new D&O liability and professional indemnity policies to commercial and financial firms. The insurer's ...
Buffett’s Railway Company Helped Lead Successful Effort to Delay Train Safety Tech
When an Amtrak passenger train derailed in Philadelphia in May, killing eight people and injuring scores more, the railroad industry's campaign to delay a Dec. 31 deadline to install technology to ...