Industry News
State Farm Testing Blockchain Tech for Auto Claims-Related Subrogation
State Farm said it is testing a blockchain product for auto claims-related subrogation. Subrogation is typically the last part of an insurance claims process, where one insurance company recovers ...
BHSI Pulls Out of Hong Kong Employees’ Compensation Terrorism Pool
Berkshire Hathaway Specialty Insurance Co. disclosed it has withdrawn from the Hong Kong Employees' Compensation (EC) terrorism pool. BHSI claims to now be the first insurer in Hong Kong to provide ...
A.M. Best Keeps Stable Outlook for U.S. Commercial Lines, Despite Pricing Pressure Worries
The U.S. commercial lines segment gets to keep its A.M. Best stable outlook, based on a variety of market conditions and government actions that have left it in mostly solid shape. Healthy ...
Brexit Vote Delayed So May Can Avoid Defeat, Seek Better Deal With EU
U.K. Prime Minister Theresa May is calling off a crucial vote in Parliament on whether to approve her Brexit deal and will head back to Brussels to seek a better offer from the European Union. May ...
Insuring Collectibles: Tales About the Super Rich, Whisky Insurance, and More
With prices of rare whisky soaring into the six and seven digits, ensuring that precious spirit is protected is not only recommended but essential, says Ron Fiamma, head of global collections at ...
Liberty Mutual Forms $1B Risk-Sharing Deal with OPIC, Furthering Diversification Strategy
Liberty Mutual Insurance has formed a $1 billion risk-sharing agreement with the Overseas Private Investment Corp. (OPIC), the U.S. government's development finance institution, which furthers the ...
U.S. Commercial Insurance Pricing Increased Four Consecutive Quarters: Willis Towers Watson
The U.S. commercial insurance sector has now produced four consecutive quarters of price increases, according to Willis Towers Watson's latest survey of the sector. Pricing ticked more than 2 percent ...
PURE Unveils Revamped Jewelry Insurance, With Eye on Eventual National Rollout
The PURE Group of Insurance Companies has restructured its jewelry insurance to include more protection for losses related to theft and disappearance on its homeowners policy. The additional coverage ...