Industry News
IRS Expects ‘Glitches’ with FATCA Tax Law on Offshore Accounts
A new U.S. anti-tax evasion law, set to take effect on July 1, will encounter "inevitable glitches," said the head of the U.S. Internal Revenue Service on Monday, adding that the IRS will be ...
Brazil Declaring No-Fly Zone Over World Cup Stadiums Amid Terror Concerns
The Brazilian Air Force will declare no-fly zones over World Cup stadiums to prevent terrorist attacks during this year's soccer tournament, but there's a catch: It can't shoot down intruders, for ...
Feds Eye Bankruptcy Link in GM Ignition Defect Probe
Federal authorities are investigating whether General Motors hid an ignition switch defect when it filed for bankruptcy in 2009, The New York Times reported on Saturday. The Justice Department's ...
Buffett Wins His $1B NCAA Hoops Bet After Just 2 Days of Play
It took less than two full days of play for Warren Buffett to win his bet that no entrant in a Quicken Loans Inc. contest would predict the winner of each game in the three-week-long National ...
California Voter Initiative Aims to Increase Damages Cap
California's limit of $250,000 on medical malpractice damages for pain and suffering, which became a model for other states almost 40 years ago, could be increased under a voter initiative to be ...
Insurance Payments Begin But Liability Over Missing Malaysian Jet Unclear
As the final hours of Malaysian Air Flight 370 remain wrapped in mystery, the question of who bears full liability for the jet's disappearance is also unresolved. This much is clear: Families of the ...
Combined Ratios Improved More than 9 Pts. in ’13 for RAA Reinsurers
The 18 U.S. property/casualty reinsurers included in the Reinsurance Association of America's survey of financial results for year-end 2013 saw net premiums fall 3.3 percent compared to 2012, but ...
Use of Predictive Modeling Increasing: Towers Watson
The use of predictive modeling continues to increase in nearly every business line, according to Towers Watson's fifth annual Predictive Modeling Benchmarking Survey. The survey examined how North ...