News
Trends in Smart Homes: What’s Next?
The smart home industry is beginning to take hold, and safety and security are going to play a key role. Consumers will be spending $130 billion annually on smart home systems by 2020, according to ...
Former AIG Chairman Greenberg Admits to Wrongdoing in Longstanding New York Fraud Lawsuit
Former American International Group Inc. Chairman Maurice "Hank" Greenberg admitted to participating and approving two fraudulent reinsurance deals as part of a settlement over a decade-old fraud ...
Blackstone Group to Pay Up to $4.8B for Aon’s Employee Benefits Outsourcing Arm
Insurance broker Aon Plc said on Friday it agreed to sell its employee benefits outsourcing business to private equity firm Blackstone Group LP for up to $4.8 billion. Blackstone will pay $4.3 ...
RSA, Post-Restructuring, Debuts New Global Risk Solutions Arm
RSA has finalized a new Global Risk Solutions (GRS) operating model aimed at giving brokers and customers better access to decision-makers and helping the division itself operate with more focus in ...
Markel’s 2016 Saw Investment Income Gains, Higher Cat Losses
Markel Corp. ended 2016 with a drop in net income and increase in the combined ratio, with Hurricane Matthew and the Canadian wildfires to blame for higher catastrophe losses. At the same time, the ...
Demotech Suspends Fla. Insurer Rating Criteria; Downgrades Coming
Recent Florida Supreme Court decisions and ongoing abuse in Florida's insurance market have led a ratings company to change the criteria it uses when rating insurers in the state. The announcement ...
InsurTech Startup Hippo and Elafris Partner on Virtual Agent Chatbot
InsurTech startup Hippo, an online provider of home insurance founded in 2015, and Elafris Inc., the developer of an artificial intelligence messaging platform specifically tailored for the banking ...
January Severe Weather in U.S. Cost Insurers More than $1B: Aon
Major weather and flood events in the U.S. during January will cost the insurance industry more than $1 billion as tornadoes hit a 17-year high, according a report published by Impact Forecasting, ...