Industry News
EPLI in Southern California Playing ‘Hard’ to Get
Employment practices liability in California is a growing concern for insurers, agents and employers, and that concern has some carriers ramping up rates dramatically or quietly pulling back from the ...
Political Risk Insurers Monitor Brazil, Turkey Impact; No Losses Yet
The large political demonstrations taking place in major cities in Turkey and Brazil in June have not yet impacted the political risk insurance market, according to a report by Marsh last week. "As ...Accenture Cuts Full-Year Outlook As Consulting Slows Further
Outsourcing and consulting services provider Accenture Plc cut its full-year outlook last week, citing a pullback in spending by its consulting business clients. Clients are slowing the pace and ...New Guy Carp Group Targets Mutual Co. Capital, Growth Issues
Last week, Guy Carpenter & Company, LLC, announced the launch of a Mutual Company Specialty Practice, which will focus exclusively on the unique needs of mutual insurance companies. The practice ...
Progressive, USAA Enter License Agreement for Usage-Based Insurance
Progressive Insurance announced Friday that it is entering into a licensing agreement with United Services Automobile Association for intellectual property related to usage-based car insurance ...
BofA Rebuffs AIG Mediation Bid on $8.5 Billion Mortgage Deal
Bank of America Corp. said it won't renegotiate its $8.5 billion mortgage-bond settlement with investors after American International Group Inc., which opposes the deal, sought mediation. Bank of ...
New RAND Center to Study Catastrophe Mitigation, Victim Compensation
The RAND Corp. is launching a new research center that will analyze different approaches to compensating individuals, businesses and others following catastrophes ranging from natural disasters to ...
Insurance Industry Facing Accounting Overhaul in Line with Global Standards
The biggest overhaul of insurance accounting in 30 years was to advance a step on Thursday with the release of a proposal that some insurers fear could make their profits more volatile. In a move to ...