Industry News
Typhoon Slams Into Philippines; Possible Insured Damage $2B
Super Typhoon Haiyan, this year's most powerful cyclone, slammed into the central Philippines, killing at least three people, cutting power and communication lines and knocking down trees. Two people ...
Third Point Re Announces Three Directors
Third Point Reinsurance Ltd. and its wholly owned subsidiary Third Point Reinsurance Company Ltd. announced on Thursday that each of them has appointed, Mark Parkin, Neil McConachie and Rafe de la ...
Aging Core Systems Not Making the Grade: IGO Carrier Research
A new survey of P/C and group life carriers revealed that more than 50 percent cite legacy systems as the top core system challenge, followed by integration and scalability/flexibility issues. ...
CarSharing Group Publishes Draft Liability Insurance Guideline
The CarSharing Association released a draft liability insurance guideline for round-trip carsharing operators in the United States on Wednesday. This guideline has been developed to protect consumers ...
We Can Write Terror Risk, Industry Execs Say
At least two property/casualty insurance and reinsurance industry executives highlighted the industry's capacity to write terrorism coverage during recent earnings calls, with the most forceful ...
Insurance Store-in-a-Box Kiosks Launched by Tennessee’s Direct Auto
Kiosks allowing customers to purchase auto insurance policies in as little as five minutes are popping up in insurance offices in Tennessee, previewing a larger rollout that will put them in ...
AIR Estimates Windstorm Christian Insured Losses Could Exceed $3B
Catastrophe modeling firm AIR Worldwide estimates that insured losses from Windstorm Christian (known as St. Jude in the UK) will range between EUR 1.5 billion and EUR 2.3 billion ($2.0 billion and ...
Towers Watson Completes Sale of Reinsurance Business for $250M
Towers Watson & Co. said Wednesday that it has completed the sale of its reinsurance brokerage business to Jardine Lloyd Thompson Group PLC for $250 million but plans to continue working with its ...