News
State Farm’s Auto Underwriting Loss Soared to $7B in 2016; Profit Plunged
State Farm Mutual Automobile Insurance Co., the largest U.S. property-casualty insurer, said annual profit fell 94 percent on car insurance claims costs. Net income dropped to $400 million from $6.2 ...
Racing With Machines: Technology Is Not Destiny
The fact is that June, my great-grandmother, was a computer. The fear is that my son is not. Ours is not a cyborg-mutation story, although that fate may await my great-grandchildren. In 1924, ...
The Latest Launches From Ironshore, QBE and Marsh
A new insurance endorsement from Ironshore is designed to help make academic campuses more secure. QBE North America has a new policy for motor carriers that combines two key coverage areas. Marsh's ...
Gaps Permeate Within Small Business Disaster Recovery Plans: Nationwide
Carriers targeting the small-business insurance market have their risk management jobs cut out for them in a key area: Many clients don't have a written disaster recovery plan in place despite a need ...
QBE CEO’s Relationship With Assistant Distracts From Stellar Financial Results
Although Australia's QBE reported its best underwriting results in six years, Group CEO John Neal was forced to field a barrage of questions during a media briefing about why the board decided to ...
XL Catlin Introduces Kidnap, Ransom and Extortion Endorsement for General Aviation
XL Catlin is offering a kidnap, ransom and extortion (KRE) crisis endorsement available with its general aviation coverage. With liability limits up to $1 million, the new KRE endorsement includes ...
Report: AIG Explores Penalizing or Booting CEO Hancock Over Turnaround Setback
American International Group Inc's directors are discussing whether to penalize or oust Chief Executive Peter Hancock over a major setback in the insurance firm's turnaround plan, the Wall Street ...
Arch Re Launches Gulf Underwriting Entity to Supplement Gulf Re’s Role
Arch Reinsurance Ltd. has created an entity to handle its underwriting in the Gulf region and eventually replace the role Gulf Re plays in its business there, a few years after it had fully acquired ...