Industry News
CFA Report Calls for Prior Approval for All States
Holding automobile insurance regulation in California as an example, the Consumer Federation of America (CFA) issued a report on Tuesday showing that auto insurance expenditures in America rose by 43 ...
Progressive CEO Sees Telematics Edge for Driverless-Car Insurance
Progressive Corp. said its technology that tracks driver behavior to set insurance rates will help the company adapt as automated cars take the road. The auto insurer offers a device called Snapshot, ...
Tower Restating Prior Financials; ‘Going Concern’ Status in Doubt
Tower Group International Ltd. announced Thursday that it is restating previously filed audited annual consolidated financial statements for 2011 and 2012, which are contained in Tower's March 31, ...
European Politicians Reach Deal on Solvency II Insurance Rules
European politicians reached an agreement paving the way for new rules designed to make insurance companies safer after 13 years of wrangling with the industry and regulators. The European ...EQECAT Puts Insured Typhoon Losses Below $100M
Insured losses from Typhoon Haiyan won't surpass $100 million, catastrophe modeling firm EQECAT predicted Tuesday. Noting that storm surge and the strong winds sustained by Haiyan as it moved across ...
Agent Commissions Steady But Rising Ad Costs Lift Expense Ratios: Fitch
Even though revenues have climbed for property/casualty insurers in the recent years, underwriting expense ratios "remain stubbornly high," according to a new report by Fitch Ratings. Fitch's ...
Older Drivers Catching Up with Younger in Distracted Driving: Survey
Cell phone use and texting while driving are on the rise along with accessing the Internet while driving — and it's not just young people engaging in these dangerous activities behind the wheel. ...
EU Close to Deal on Long-Delayed Insurance Capital Rules
The European Union is close to agreeing on new rules that will force insurers to hold enough capital to keep policyholders safe, after years of delay. Lawmakers from the European Parliament and ...