News
Court Rejects BP Appeal of Gulf Oil Spill Settlement Terms
BP Plc must abide by terms of a $9.2 billion settlement it reached with victims of the 2010 oil spill, a federal appeals court ruled in rejecting the company's objections that the deal is being ...
Wanna’ Get Away? Severe Winter Making It Tough
Severe winter weather cost U.S. airline passengers $5.3 billion in expenses and missed workdays as carriers canceled and delayed trips in the worst period of flight disruption since Sept. 11. The ...
RSA Upgraded by S&P on Planned Share Sale, Buffett Risk Transfer
RSA Insurance Group Plc was upgraded by Standard & Poor's after Chief Executive Officer Stephen Hester announced a stock sale and a deal to transfer risk to Warren Buffett's Berkshire Hathaway ...
Britain’s Floods Could Cost Insurers $2.5 Billion
The bill sent to insurers from storms bringing hurricane strength winds and widespread flooding to parts of Britain since December could reach 1.5 billion pounds ($2.50 billion), according to ...
Employee Count Down 16% at The Hartford
Hartford Financial Services Group Inc. cut its staff by 16 percent last year as Chief Executive Officer Liam McGee narrowed the insurer's focus. The insurer had about 18,800 employees as of Dec. 31, ...
Study Shows P/C Insurers Plan to Hire, Grow Significantly in 2014
More than half of all insurance companies responding to a recent survey say they plan to increase staff in 2014, although hiring for the most-in-demand positions may prove difficult. That's according ...
Texas Likely to Become an ‘NCCI State’ for Workers Comp; Question Is When
Texas will be privatizing many functions in its workers compensation system if Insurance Commissioner Julia Rathgeber approves a staff petition to adopt the National Council on Compensation Insurance ...
Berkshire Posts 11th Straight Year of Underwriting Profit; Buffett Expects Billions from Specialty Ops
Insurance operations contributed $5.7 billion to total operating income of $15.1 billion for Berkshire Hathaway in 2013—with an underwriting profit of $2.0 billion (after taxes) representing the ...