Industry News
BP Deepwater Horizon Spill Liability Climbs to $61.6B
BP Plc has raised the total liability from the Deepwater Horizon oil disaster, which triggered the worst offshore oil spill in U.S. history, by $5.2 billion to $61.6 billion before tax. The ...
Women Are Key to Advancing InsurTech Space
Women have a vital role to play in helping to build InsurTech companies. Eva Genzmer, head of corporate communications for Germany's Friendsurance argues as much in a recent company blog posting. ...
Hiscox: Fraud Risks Prevalent at Professional Services and Small Businesses
It turns out that mid size companies in the professional services and financial industries, and small businesses overall, are particularly vulnerable to white collar crime in the U.S., Hiscox ...
Insurance Industry Slams Treasury’s New Auto Insurance Affordability Formula
Federal regulators have adopted a methodology for monitoring the affordability of automobile insurance, capping years of debate and public comments. Property/casualty insurers, however, said the new ...
Warren Buffett Gives $2.86B to Gates Charity, Four Others
Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc, has donated another roughly $2.86 billion of his holdings in the company's stock to the Bill & Melinda Gates Foundation and ...
New Capital Rules Poised to Transform Kenya’s Insurance Industry
A push by Kenyan regulators to clean up the East African country's insurance industry is poised to trigger stake sales or exits by underwriters unable to meet the new capital requirements, according ...
N.J. Using $200M in Breaks to Lure Insurance, Tech and Financial Firms
New Jersey is offering almost $200 million in incentives over 10 years to insurance, technology and financial companies to operate across the Hudson River from Manhattan. One applicant, Ernst & ...
Q1 Troubles: Catastrophe Losses Knocked Net Income Down 26.6 Percent
Severe weather and the hefty insured losses that followed helped produce a 26.6 percent plunge in U.S. property/casualty insurers' net income during the 2016 first quarter, a new industry study has ...