Industry News
American Family Insurance Plans to Launch Commercial Drone Pilot Tests
Wisconsin's American Family Insurance plans to test the use of commercial drones this fall as a way to quicken its response to catastrophes. American Family's move into the drone space comes not long ...
Small Businesses Want Their Insurance Agents AND the Internet: PIA Research
Commercial lines customers – particularly small business owners – still prefer working with independent insurance agents in the Internet age, new industry research has found. At the same time, ...
Higher Private Passenger Auto Losses Will Leave P/C Personal Lines in the Red: SNL
Higher private passenger auto insurance losses in 2015 will end a two-year run of property/casualty personal lines insurance profitability. Rather than being a fluke, however, the trend will continue ...
Few U.S. Railroads Will Meet Dec. 31 Train Safety Tech Deadline
Only a small number of U.S. railroads will meet the Dec. 31 deadline for implementing new train safety technology that experts say would have prevented the deadly May 12 Amtrak derailment in ...
Navigators Settles U.S. Probe Over North Korea, Iran Marine Risk Deals
Navigators Group Inc., the insurer that focuses on marine risks, agreed to settle a U.S. probe that it violated sanctions through deals tied to banned nations. Navigators will pay about $272,000 to ...
California Workers Comp Premiums Growing By Double Digits: WCIRB
Workers' compensation premiums in California continue to grow at double-digit rates, according to the Workers' Compensation Insurance Rating Bureau. The WCIRB recently released its "State of the ...
GEICO, Reinsurance Losses Drove Down Berkshire Hathaway’s Q2 Profit
Warren Buffett's Berkshire Hathaway Inc. said second-quarter profit missed analysts' estimates because higher claims costs fueled an underwriting loss at the insurance segment. Net income dropped 37 ...
Severe Floods Could Slam California Region With $24B in Damage: Lloyd’s of London
Severe flooding in an economically vital part of California's could cost more than $24 billion in damage, Lloyd's of London concludes in a new risk analysis of the state. What's more, climate change, ...