News
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 ...
The Latest Launches From Chubb and CNA/Aon Affinity
Chubb released new enterprise risk management policy forms for its commercial cyber policyholders in the U.S. and Canada. CNA and Aon Affinity, the affinity business of Aon plc, partnered to offer ...
Allianz Expands in Africa With Planned Nigeria Acquisition
Allianz has agreed to snatch up a Nigerian insurer in a move that gives it a greater foothold in Africa. The German insurance giant said it has signed a binding agreement to buy 98 percent of ...
Brexit Deadline: UK Insurers Must Decide on Moving EU Policies by November
Insurers in Britain face crunch time within weeks if the government and the European Union do not allow millions of cross-border policies to continue to run undisturbed beyond Brexit. While Britain ...
Warren Buffett: Now Bank of America’s Biggest Shareholder
Warren Buffett's Berkshire Hathaway Inc has become Bank of America Corp's largest shareholder by exercising its right to acquire 700 million shares at a steep discount, more than tripling an ...
Insurers Might Escape Harvey-Related Legal Fights Due to New Texas Law
As if victims of Hurricane Harvey didn't have enough to deal with, a Texas law that takes effect Sept. 1 may make it harder for them to sue insurers for payment of claims. Texas House Bill 1774, ...