News
First Trial Over ‘Moldy’ Washers Ends with Win for Whirlpool
Michigan-based Whirlpool Corp has been found not liable by a U.S. jury in the first lawsuit to go to trial accusing the company of selling front-loading washing machines containing a design flaw that ...
Scientists React to Virgin Galactic Explosion: Setbacks Expected; Insurance Required
The explosion of Virgin Galactic's passenger rocket is stirring up mixed emotions as scientists and others involved in the space industry wait for more details on what happened over the Mojave Desert ...
After several years in which much of P&C was focused on restoring rate adequacy and profitability, the market is finally...
AIG Will Fork Over $35M to Settle New York Licensing Issue
Insurer American International Group will pay a $35 million penalty for violations related to former subsidiaries that solicited insurance business in New York without a license, the New York State ...
Fairfax’s Watsa Says Deflation ‘In the Air’
Prem Watsa is betting on U.S. government debt at his Fairfax Financial Holdings Ltd. to guard against deflation amid stagnation in European economies and slumps in commodity prices and Chinese real ...
Virgin Galactic Spaceship Test Flight Crashes in Desert; Pilot Killed
A spacecraft for Sir Richard Branson's Virgin Galactic Ltd. tourism operator crashed during a test flight in California's Mojave Desert, and CNBC reported that one of two pilots was killed. The ...
PCI’s Gordon: Congressional Leaders Pledge Dec. TRIA Renewal
An executive with the Property Casualty Insurers Association of America said Congressional leaders have offered assurances that they'll reauthorize a version of the Terrorism Risk Insurance Act, or ...
Mexico at Risk For Another Potential Pacific Hurricane
With just about a month left in the eastern Pacific's hurricane season, Mexico is once again the target of a tropical system on its western coast. The latest system, Tropical Storm Vance, was ...
Africa is Luring Global Insurance Companies
Global insurance companies are flocking to Africa, where millions of people have started earning enough to afford business cover and protection for their families, said private equity firm LeapFrog ...