News
Forget Driverless Cars. How About a ‘Flying Taxi’?
A Bavarian start-up is developing a five-seat "flying taxi" after successful test flights over Germany of a smaller version of the electric jet, the company said on Thursday. Munich-based Lilium, ...
Expect Technology to Become Significant Driver of Future Liability Claims: Allianz Report
Technology is expected to be a major driver of liability claims in the years ahead – cutting frequency and increasing new threats such as cyber, product liability and recall risk, according a ...
Three-Month Cyber Attack Targets 1,200 InterContinental Hotels in U.S.
Global hotel chain InterContinental Hotels Group Plc said 1,200 of its franchised hotels in the United States, including Holiday Inn and Crowne Plaza, were victims of a three-month cyber attack that ...
Travelers’ Profit Plunges; Higher Cat Losses, Reduced Underwriting Gains to Blame
Property and casualty insurer Travelers Cos Inc reported an 11 percent fall in quarterly profit hurt by higher catastrophe losses and lower underwriting gains. The company also authorized a $5 ...
AmWINS Will Buy Partners Specialty Group, Adding to Already Giant Broker Operation
Specialty insurance brokerages AmWINS Group Inc. and Partners Specialty Group LLC have agreed to merge, creating a combined firm that will place a whopping $14 billion in annual premiums. Neither ...
Think Tank: Federal Insurance Office Could Work Better as Its Own Agency
It's no secret that the Federal Insurance Office isn't exactly popular among property-casualty insurers. But a Washington D.C. nonprofit policy group says it can and should be saved, and even ...
XL Catlin Ups Terrorism Insurance Coverage Limits by 25%
XL Catlin said it has boosted available terrorism insurance coverage units by 25 percent in an effort to keep up with demand. Limits are now at $250 million, up from $200 million, the insurer and ...
W.R. Berkley Hires Ex-Goldman Sachs Analyst to Assess Emerging Tech Company Investments
W.R. Berkley Corp. has hired a former Goldman, Sachs & Co. analyst to evaluate potential investments in emerging insurance technology companies. The executive, Michael Nannizzi, will be part of ...