International
Low Catastrophes, High Reserve Releases Mask Reinsurance Industry Weakness
Weak business conditions in the reinsurance industry are being masked by a low level of catastrophes and a high level of reserve releases, said Standard & Poor's Ratings Services and Fitch ...
VW Faces April 21 U.S. Deadline for Diesel Cheat Fix
Volkswagen AG hasn't finished a plan for getting 600,000 diesel vehicles off U.S. roads as it faces hundreds of lawsuits for rigging pollution control systems to cheat emissions tests. U.S. District ...
Whistleblower Sues Abbott for $1 Billion in Trial Over Stent Marketing
Abbott Laboratories is accused in a trial that started Tuesday of marketing unapproved stents for unsuspecting patients and cheating Medicare, as a whistleblower seeks more than $1 billion, a risk ...
Plunging Oil Prices Proportionate to Higher Commercial Losses: Marsh
Plunging crude oil prices in recent months may be great news for consumers, but the trend could lead to increased losses for commercial insurers as their clients scramble to cut costs, Marsh asserted ...
Price Pressures, Lower Investment Income Slash Lloyd’s 2015 Profit by 30%
Lloyd's of London reported a 30 percent drop of full-year profit as the world's largest insurance market was hurt by continued pressure on pricing and the lowest investment returns since at least ...
VW Hit by Yet Another Diesel Emissions Cheating Lawsuit
Kentucky sued Volkswagen AG and its luxury units on Tuesday claiming the German automaker's diesel emissions cheating scheme violated the state's Consumer Protection Act. "Volkswagen must be held ...
2015 a Quiet Year for Catastrophe Losses: Guy Carpenter
Despite a record-setting tropical season in the Pacific, 2015 was a quiet year in terms of global insured losses, according to a new report by risk and reinsurance specialist Guy Carpenter & Co., ...
AIG Will Slash 242 Jobs in NYC
American International Group Inc., the insurer that's been under pressure from activist investors, said it plans to cut 242 jobs at five locations in New York City. The reductions will take place ...