Industry News
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 ...
The Hidden Cost of Standing Still: Legacy Platforms Slow Growth and Halt the Shift to AI-Enabled Insurance Business
Presented by Majesco
There is a hidden disease that is killing insurers — the disease of legacy technology. The problem is a matter...
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" ...
Gov. Christie Says N.J. May Get $10B of Federal Sandy Aid
Governor Chris Christie said New Jersey may receive as little as $10 billion of federal recovery funds for $37 billion of damage from Hurricane Sandy. "Some really difficult decisions will have to be ...
House Poised to Pass Flood Insurance Change Backed by Realtors
The U.S. House will have enough votes to pass flood-insurance legislation following last-minute changes to give more coastal property owners a break from rate increases, Minority Whip Steny Hoyer ...