News
State Farm’s Rust Ends 30-Year Run as CEO
State Farm Mutual Automobile Insurance Co. said Edward Rust is stepping down as chief executive officer after three decades in the post and will be replaced by the company's chief operating officer. ...
Allstate to Offer Ride for Hire Policy
Allstate will start insuring drivers who pick up passengers through ride-hailing apps like Uber and Lyft. The insurer said Wednesday that the Ride for Hire policy will cost $15 to $20 a year on ...
U.S. Storms Caused $1B in May Insurance Claims: Impact Forecasting
A number of severe thunderstorms and flooding in the U.S. in May produced more than $1 billion in insurance claims and over $3 billion in economic losses, Aon Benfield's Impact Forecasting said in a ...
Executives On The Move at W.R. Berkley, JLT Re, Ironshore and More
W.R. Berkley Corp. promoted three long-time executives at the company to the offices of executive vice president. Eugene Ballard, who has been with Berkley since 1999, has previously served as senior ...
Emotional Amtrak CEO Pledges to Implement Track Safety Tech
An emotional Amtrak CEO pledged to lawmakers Tuesday that safety technology that could have prevented a deadly derailment last month in Philadelphia will be put into operation, while Democrats and ...
Bond Insurers May Prevent Revamp Extension for Puerto Rico Electric Utility
Puerto Rico's junk-rated electric utility, weeks away from owing a $416 million debt payment, is moving closer to a legal showdown as bond insurers consider blocking a move to give it more time to ...
AIG Reels in $3.7B From Expanded AerCap Public Offering
American International Group Inc., the largest commercial insurer in the U.S. and Canada, raised $3.7 billion in cash by selling AerCap Holdings NV stock in a larger- than-planned transaction. AIG ...
Outgoing Flood Insurance Program Director Blasts Inefficiencies
The outgoing director of the National Flood Insurance Program (NFIP) says the program is a "melting iceberg" that is incapable of properly managing its various players including the private insurance ...