Industry News
Chubb, Chaucer, Other Lloyd’s Underwriters Team to Develop Products for New and Emerging Risks
Lloyd's underwriters including Chubb, Chaucer, Beazley and Hiscox are teaming up on a new initiative designed to quicken insurance/reinsurance product development for new and emerging risks. Known as ...
Wildfire Loss Insurance Payments Would Help Fund Proposed PG&E Bankruptcy Exit Plan
A committee of bondholders of PG&E Corp's utility unit on Tuesday proposed a bankruptcy reorganization plan that would inject up to $30 billion to help the California power provider emerge from ...
Tokio Marine Will Put One of Its UK Insurance Companies Into Runoff
Tokio Marine Group is putting one of its UK insurance companies, Tokio Marine Kiln Insurance (TMKI), into run-off. Going forward, Tokio Marine Kiln (TMK) will focus on its Lloyd's businesses. The ...
Prices Soaring: Persian Gulf Oil Shipments Cost More than $500,000 to Insure
The cost of insuring Middle East oil shipments is soaring as tensions mount in a region responsible for about a third of all seaborne petroleum. So-called war risk premiums for a standard oil cargo ...
Ex-AIG Traders Win UK Judge’s Backing in Bid to Obtain $100M in Bonuses
A group of former traders and managers at American International Group Inc. won a London judge's backing in their battle to obtain $100 million dating back to the financial crisis, after he said that ...
Protective Insurance Brings on Ex-AIG Exec Johnson as CEO; Q2 Earnings Call Set for Aug. 7
Former AIG executive Jeremy Johnson recently became the new CEO of Protective Insurance Corp, an insurer focused on commercial auto insurance and workers compensation coverage. Johnson took on the ...
Lloyd’s Abandons Some Ship Insurance, Leaving Rivals to Ride Rising Rates
Rivals to Lloyd's of London are riding a rising tide of marine insurance rates, leaving the 330-year-old market behind after it jettisoned sections of its oldest line of business last year. Premiums ...
Nationwide: Solid Strategy Is Key to Finding a Compelling InsurTech Partner
Carriers are increasingly looking for InsurTechs that would serve as good partners or investments, but how do they pick the right ones? That's a vital question for carriers to address so they can ...