Industry News
Texas Insurers, Larger Carriers Can Handle Hurricane Harvey Pressures: A.M. Best
Texas insurers and larger carriers that do business in Texas will see some strains from Hurricane Harvey and the historic rains and flooding that followed. But A.M. Best expects them to withstand the ...
New Wells Fargo Disclosures May Jeopardize $142M Customer Class Action Settlement
Wells Fargo & Co.'s disclosure Thursday that employees may have opened significantly more unauthorized accounts than previously stated could jeopardize a $142 million class-action settlement with ...
Japan’s Sompo Holdings Will Sell Sompo Canopius to Centerbridge for $952M
Japan's Sompo Holdings Inc. announced it has agreed to sell Lloyd's re/insurer Sompo Canopius AG to a private equity consortium led by Centerbridge Partners for $952 million. On completion of the ...
Samsung, Following Archrival Apple, Will Start Testing Self-Driving Vehicles in CA
Samsung Electronics Co Ltd said on Thursday it has received a permit to test self-driving vehicles in California, marking the entry of the world's largest smart phone maker four months after iPhone ...
EMC Insurance COO Hovick to Retire in January
Kevin Hovick, the long-time chief operating officer of EMC Insurance Group, is retiring after a career with the property/casualty insurer spanning more than 38 years. Hovick, who also has the title ...
Ex-Marsh Exec Bob Newhouse Has Died; Was Insurance Industry Innovator
Former insurance industry executive and innovator, Robert "Bob" J. Newhouse Jr., died on August 26, 2017, following a brief illness. He spent 36 years at Marsh & McLennan Cos. (MMC), where he ...
Drones to Assess Harvey Damage Will Share Space With Other Tech
In the aftermath of Hurricane Harvey and the flooding that followed, property/casualty insurers are ramping up for their widest use of drones to date to help facilitate the processing of catastrophe ...
S&P: Primary P/C Insurers—Not Reinsurers—to Bear Brunt of Harvey’s Insured Losses
While it's too early to accurately quantify the insured losses related to Hurricane Harvey, primary insurance carriers—as opposed to reinsurers—will retain the majority of losses, according to ...