Industry News
The Latest Launches From AXA XL and Everest Insurance
AXA XL's North America marine insurance business added to its inland marine coverage. Everest Insurance revamped its Multinational coverage form. *** AXA XL's North America marine insurance business ...
Carrier Lobbyists Argue Tax to Fund Wildfire Prevention Would Harm Insurance Consumers
Lobbyists for the property/casualty insurance industry are trying to prevent a $125 million jump in Washington's insurance premium tax that would fund wildfire prevention and suppression. The tax ...
Every insurer evaluating property risk today is running the same math: more perils, more models, more data sources, and not...
A Catastrophic Wildfire Fund Is Under Serious Consideration in California
Creation of a catastrophic wildfire risk pool is emerging as the most likely option as California lawmakers seek to protect the solvency of investor-owned utilities from record payouts for fire ...
QBE’s Zortman Is Joining AIG to Lead Its High Net Worth Customer Biz
A veteran of QBE Group and the old Fireman's Fund Insurance is joining AIG to lead its Private Client Group, a division that serves the insurance giant's high net worth customers. Kathleen Zortman is ...
Cosby Accuses AIG of Reaching Unauthorized Settlement in Sex Abuse Suits
Seven women who said Bill Cosby sexually assaulted them decades ago and then labeled them liars by denying it have settled defamation lawsuits against the imprisoned actor. Court documents filed ...
Microsoft Insurer Fails to Recoup $175M from Xbox Chipmaker Hit by Fire
Microsoft Corp.'s captive insurer has lost its bid to recover $175 million in costs the software maker said it incurred in 2013 to replace memory chips that a manufacturer failed to deliver because ...
Veteran Nationwide CEO Rasmussen Plans to Retire; Succession Search Is Underway
Long-time Nationwide Chief Executive Officer Steve Rasmussen plans to retire later in 2019, the company disclosed. Rasmussen's last official day as CEO will be Oct. 1, 2019, capping more than 10 ...
Travelers Claims Progress Reducing Opioid Use Among Injured Construction Workers
The Travelers Companies, Inc. claims it has had some success reducing the use of opioids among insured construction workers it covers. The property/casualty insurer said there has been close to a 40 ...