Industry News
SCOTUS Rejects ‘Hank’ Greenberg’s AIG Bailout Appeal
The U.S. Supreme Court rejected an appeal by Maurice "Hank" Greenberg's Starr International Co., refusing to revive its bid to sue the federal government over the $85 billion bailout of American ...
Federal Flood Insurance Program Renewed Through July 31; Permanent Fix Still Lacking
Advocates who have been pushing for renewal of the U.S. federal flood insurance programs in the wake of last year's devastating hurricanes and floods praised Congress for extending the program ...
Single Number Cyber Risk Score Could Help Carriers Craft More Precise Cover
The rapidly emerging and evolving world of cyber risk poses a paradox for property/casualty insurers, according to two panelists addressing "Risk Selection in Cyber Insurance" at the Casualty ...
Carriers Can Learn From Uber Driverless Vehicle Fatality as They Shape Coverage Standards
Uber's driverless sport utility vehicle that struck and killed a woman in Arizona during a test run isn't spooking carriers from developing coverage for the technology. The industry is proceeding ...
Sensor-Maker Defends Tech Used in Uber Self-Driving Car Fatality
A top executive for the maker of sensors used on the self-driving car that stuck and killed a woman in Arizona this week said she's "baffled" as to why the tech-outfitted vehicle failed to recognize ...
Insurers, Banks to Get Brexit Update From Bank of England
The Bank of England said it would update banks and insurers next week on its approach to Brexit given that Britain and the European Union have now adopted a transition deal. "The Bank of England ...
Attritional and Catastrophe Losses Hammered Lloyd’s 2017 Results
The Lloyd's market's pre-tax loss of $2.8 billion in 2017 was partly due to hurricanes and wildfires in the third and fourth quarters. But these losses were exacerbated by the continued deterioration ...
Data Breach Notification Gaps Remain Despite Improved Alerts: Munich Re’s Hartford Steam Boiler
Carriers face ongoing challenges in developing effective strategies to insure against data breaches. A new consumer survey from Munich Re's Hartford Steam Boiler underscores the work left to be done ...