Industry News
Executives On The Move at Berkshire Hathaway Specialty, PCI and OdysseyRe
Berkshire Hathaway Specialty Insurance, OdysseyRe and the Property Casualty Insurers Association of America have each recently made new executive appointments. Here are the details: Berkshire ...
Ohio Insurance Director Warns Insurers Against Using Price Optimization
Lieutenant Governor and Department of Insurance Director Mary Taylor has warned Ohio insurers against the use of price optimization that can result in unfair discrimination. Taylor recently issued ...
Spanish Insurance Giant MAPFRE Enjoys Home-Grown Rebound
MAPFRE SA, Spain's biggest insurer, recorded a 6.9 percent rise in net income last year on higher returns in its home market. Net profit grew to 845 million euros ($956 million) from 790.5 million ...
OneBeacon’s Adverse Reserve Developments Draw Fitch and Moody’s Attention
OneBeacon Insurance Group has been dealt a ratings outlook warning from Fitch Ratings and an outright downgrade from Moody's Investors Service, stemming from substantial adverse reserve development ...
Risk Managers Want Carriers, Not Just Brokers, Involved in Service
While commercial insurers have traditionally relied upon insurance brokers to manage customer relationships, large company risk managers are looking for both parties to work together to meet their ...
P/C Insurers Expanding Predictive Modeling, Usage-Based Offerings
Property /casualty insurance executives believe that over the past six years predictive modeling has become an essential or very important driver of improved performance and they are broadening their ...
GE Pension Sues AIG Over Losses Tied to Bailout
General Electric Co.'s pension trust is suing American International Group Inc. over losses related to the insurer's 2008 government bailout. AIG failed to disclose to investors the risk in its ...
Pinnacle, Driveway Team Up on UBI Smartphone App Solution
Pinnacle Actuarial Resources, Inc. and Driveway Software have joined forces to offer the auto insurance industry a coordinated usage based insurance (UBI) solution using a smartphone app that ...