News
Wells Fargo Reaches $1.2B Settlement in U.S. Govt. Mortgage Suit
Wells Fargo & Co admitted to deceiving the U.S. government into insuring thousands of risky mortgages, as it formally reached a record $1.2 billion settlement of a U.S. Department of Justice ...
Breaking the Cycle of Reduced Profitability
The property/casualty insurance industry is wrestling with a troubling paradox: how to cut costs without compromising quality. The U.S. P/C Composite rate was down 4 percent in December 2015, ...
European Insurance Industry Fintech Upgrades Threaten Thousands of Jobs
The rush is on to replace people with software in Europe's insurance industry as cost cutting and automation become increasingly crucial to bolstering earnings. Zurich Insurance Group AG is ...
Emerging Markets Embrace Ecommerce Tech Quicker Than Developed World
Emerging markets are not necessarily unsophisticated about technology, and insurers and other merchants might want to take note. A new analysis looked at 16 growth markets and found that commerce ...
Lloyd’s America Chief Sells Benefits of E&S Sector to Students and Execs
If insurance is the best kept secret in the business world, then the E&S sector is the best kept secret in the insurance industry. That's according to Hank Watkins, president of Lloyd's America, ...
GM Enters Into Confidential Settlement in Ignition-Switch Case
General Motors Co on Thursday said it had agreed to settle a lawsuit that would have been the third case to go to trial over a faulty ignition switch linked to nearly 400 injuries and deaths. In a ...
Hartford CEO Swift Made $10M in 2015, Almost Double the Previous Year
Hartford Financial Services Group Inc. said that Chief Executive Officer Chris Swift's pay package nearly doubled to $10 million for last year as stock awards climbed. The compensation included a ...
Chubb CEO Greenberg Predicts Economic Trouble as Debt Financing Unwinds
Evan Greenberg, the chief executive officer of insurer Chubb Ltd., said companies may find it difficult to obtain financing after central banks have propped up economic growth for years, likening ...