Industry News
Heavy California Rains Ironically Set Stage for Robust Fire Season
Forest fires are picking up once again in California. The cause this time: rain and snow. Really, rain and snow? OK, perhaps not exclusively, but yes, as counterintuitive as it would seem, the weeks ...
Congressional Republicans Introduce Bills to Repeal Rules Barring Forced Consumer Arbitration
Republicans in the U.S. Congress are moving quickly to try to eliminate a new regulation that bars financial firms from forcing consumers into arbitration to settle disputes. Top lawmakers in both ...
Travelers Net Income Drops 10%; Weather-Related Losses, Personal Auto Results to Blame
As sizable as Travelers' $595 million in 2017 second quarter net income was, it was a good 10 percent lower than the same period a year ago. Weather-related losses and higher personal body injury ...
$22B in H1 Insured Losses Stem Largely From U.S. Storms: Impact Forecasting
Insured losses for natural disaster totaled $22 billion during the first six months of 2017, with the cost stemming in large part from U.S.-focused, hail, heavy winds and tornadoes. Aon Benfield's ...
States Couldn’t Impose Driverless Car Rules Under House Panel-Approved Proposal
A U.S. House panel on Wednesday approved a sweeping proposal by voice vote to allow automakers to deploy up to 100,000 self-driving vehicles without meeting existing auto safety standards and bar ...
Risk is ‘Substantial’ That the UK Won’t Achieve Brexit Deal: Moody’s
The risk that the UK will tumble out of the European Union in two years without a Brexit deal is "substantial," Moody's Investors Service said. Such an outcome would affect everything from banks to ...
Executives On The Move at AmTrust, Chubb, Neon and GCube
AmTrust Financial Services hired an executive to handle business strategy and business development. Chubb has a new Life Sciences Industry practice leader for North America. Neon named a new director ...
Ron Lockton Is Lockton Inc.’s New President and CEO
Lockton Inc.'s president and CEO has resigned, and a scion of the broker's founding family has replaced him. Glenn Spencer left the privately held independent insurance broker for personal reasons, ...