Industry News
Fitch’s Hurricane Irma Insured Loss Estimate Hovers Between $25B-$50B
Estimated insured losses for the insurance industry for Hurricane Irma range from $25 to $50 billion based on a number of estimates, according to a report from Fitch Ratings. Fitch's calculation ...
V2V Driverless Technology Regulations Stall Under Trump
The technology that gives cars superpowers to see around corners and through walls won't be on the first self-driving rides hitting the road in the next few years. Vehicle-to-vehicle communication ...
Over Half of Allstate $553M August Hurricane Harvey Losses Were Auto Claims
Hurricane Harvey slammed The Allstate Corp. with an estimated $553 million in catastrophe losses in August, the insurer said. More than half related to auto claims. The pre-tax gross estimate is a ...
Irma Insured Losses Will Hit Between $35B-$55B: RMS Estimate
Hurricane Irma likely caused between $35 billion and $55 billion in insured losses in the U.S. and the Caribbean combined, according to the latest estimate from catastrophe modeler RMS. Broken down, ...
Global Reinsurers Likely Exposed to Catastrophic Mexico City Quake: Morgan Stanley
Global reinsurers will likely face exposures from a massive magnitude 7.1 earthquake that struck Mexico City on Sept. 19, Morgan Stanley said in a new research note. This earthquake led to dozens of ...
Zurich North America CEO Will Depart; Savio to Replace Him on Jan. 1
Zurich North America CEO Mike Foley plans to leave his position at the end of 2017 after more than a decade with the Swiss insurance giant. His successor has already been chosen: Kathleen Savio. ...
EU Officials Don’t See UK PM May Breaking Brexit Negotiation Deadlock
European Union officials aren't holding out much hope that U.K. Prime Minister Theresa May will next week break the deadlock in the Brexit negotiations. A week before May delivers a speech in ...
Allstate CEO Wilson Urges Congress to Overhaul Federal Flood Insurance Program
Allstate Corp's Chief Executive Officer Tom Wilson on Tuesday called on U.S. lawmakers to overhaul a government subsidized flood insurance program, calling for a more streamlined system that does not ...