Industry News
Washington Judge Overturns Credit Scoring Ban
A judge on Friday overturned a Washington state rule prohibiting insurers from using credit scoring to set rates for auto, homeowner and renter insurance. Insurance Commissioner Mike Kreidler adopted ...
Lemonade Lays Off Metromile Employees Immediately
Immediately after Lemonade closed its deal of Metromile on July 28, job boards lit up with news of layoffs at the acquired company. Former Metromile employees have been posting the news on LinkedIn, ...
Industry’s Blockchain Project, B3i, Ceases to Trade After Filing for Insolvency
The industry's blockchain project, B3i, has ceased activities and filed for insolvency following unsuccessful funding rounds. "The directors, following consultation with the shareholders, have ...
Judge Questions 3M’s Use of Bankruptcy to Fight Veterans’ Suits
The federal judge administering more than 230,000 lawsuits against 3M Co. questioned whether the industrial giant acted in good faith when it decided to try to shift the cases to bankruptcy court ...
Executives on the Move at USAA, AXA XL
USAA announced that Randy Termeer has been named president, Property and Casualty Insurance. Termeer joined USAA in 2017 as senior vice president and general manager of Auto Insurance. Most recently, ...
How Climate Change Drives Heatwaves and Wildfires
Brutal heatwaves gripped both Europe and the United States last week and are forecast to dump searing heat on much of China into late August. In addition to temperatures spiking above 40 Celsius (104 ...
Allergan Poised to Pay More Than $2B in Opioid Settlement
AbbVie Inc.'s Allergan unit has reached an agreement to pay more than $2 billion to resolve thousands of lawsuits filed by state and local governments over the marketing of its Kadian opioid ...
Chubb Increases Loss Cost Trends ‘Rather Than Be Lagging and Get Caught’: Greenberg
Chubb CEO Evan Greenberg said the insurer is seeing favorable returns, but additional rate is needed to "keep pace with loss costs, which are hardly benign." Greenberg said during the July 27 call to ...