Industry News
200,000 Policyholders May Move from Florida’s State-Backed Insurer
Citizens Property Insurance Corp., Florida's largest insurer, could be shifting thousands more of its policyholders away from the state-created company and into private insurance companies. The head ...
Swiss Re to Pay $240M for German Hailstorms
Hailstorms in northern and southern Germany in July will generate a claims burden of approximately $240 million for Swiss Re, the company announced Monday. That figure is net of retrocession and ...
Newsmaker: BlackBerry Savior Watsa, an Investor with a Long View
As soon as Prem Watsa stepped down from BlackBerry's board in August, speculation that he would launch a bid for the troubled smartphone maker started to swirl. Six weeks later, the man some call ...Fairfax Sets Floor for BlackBerry with $4.7 Billion Offer
Struggling smartphone maker BlackBerry on Monday signed a tentative deal to be acquired by a consortium led by its biggest shareholder, setting a $4.7 billion floor in the auction of the Canadian ...
Berkshire Hathaway Keeps Minting Billionaires, Philanthropists
Stewart Horejsi's business was in a funk. It was 1980, and Brown Welding Supply LLC, his family's third-generation distributor of hydrogen and oxygen tanks, was battling competitors that were intent ...
NFIP Policy Cancellation Statistics: No Loss, No Insurance
A Wharton School professor advocates a multiyear flood insurance policy as part of a program aimed at getting owners of flood-prone properties to invest in loss prevention and to hold onto their ...
Travelers Launching Low Cost, Segmented Product in New Personal Auto Strategy
The Travelers Companies Inc. is adopting a new strategy to become more price-competitive in personal auto insurance. Travelers' CEO Jay Fishman explained his company's personal auto strategy at the ...Meadowbrook Cuts Credit Facility to Meet Loan Covenants
Meadowbrook Insurance Group Inc., which had its rating cut in early August by A.M. Best, said it will reduce the funds available on a credit facility as part of an agreement to comply with loan ...