Industry News
Oceanwide Launches Online Cloud Provider Risk Assessment Tool for Insurers
Oceanwide, Inc.announced the launch of its Cloud Provider Assessment Model (CPAM) Thursday, noting that the tool was designed for the insurance industry to give information technology (IT) and ...
Aviva Hit With $221 Million Cost From Improper Hedge Fund Trades
Aviva Plc took a 132 million pound ($221 million) charge after saying two former employees breached its trading policy since 2006 to the benefit of external hedge funds. The insurer, which on ...
Aviva Hits 2008 High as Profit Beats Estimates; CEO Restores Bonuses
Aviva Plc rallied to its highest in more than five years after profit beat analysts' estimates, and Chief Executive Officer Mark Wilson said he planned to restore bonuses at the U.K.'s second-biggest ...
Farmers Told to Pay Oklahoma Trio $15M
An Oklahoma judge has ordered Farmers Insurance and a subsidiary to pay a total of $15 million to three plaintiffs who filed claims for damage to their homes caused by a deadly tornado that struck ...
China Likely to Turn to Insurers, Pension Funds for Private Capital
As China embarks on a new wave of opening up state-dominated industries to private capital, foreign firms will largely be kept out and authorities are likely to look to institutions like domestic ...
Supreme Court Justices Grapple with Rules for Class Actions
U.S. Supreme Court justices sought a middle ground to preserve class-action shareholder lawsuits as they heard a case testing the legal rules that have fostered thousands of cases over the past ...
Guy Carpenter Promotes Reina to CEO, Continental Europe & MENA
Guy Carpenter & Co. on Wednesday announced that Massimo Reina has been promoted to the position of CEO of Continental Europe and MENA, with immediate effect. He succeeds Peter Stubbings, who has ...
House Passes Flood Insurance Bill; Key Senators Sign On
The U.S. House of Representatives Tuesday evening passed bipartisan legislation to curb some of the premium increases in the nation's flood insurance program that have been causing "sticker shock" ...