News
Aging Core Systems Not Making the Grade: IGO Carrier Research
A new survey of P/C and group life carriers revealed that more than 50 percent cite legacy systems as the top core system challenge, followed by integration and scalability/flexibility issues. ...
CarSharing Group Publishes Draft Liability Insurance Guideline
The CarSharing Association released a draft liability insurance guideline for round-trip carsharing operators in the United States on Wednesday. This guideline has been developed to protect consumers ...
We Can Write Terror Risk, Industry Execs Say
At least two property/casualty insurance and reinsurance industry executives highlighted the industry's capacity to write terrorism coverage during recent earnings calls, with the most forceful ...
Insurance Store-in-a-Box Kiosks Launched by Tennessee’s Direct Auto
Kiosks allowing customers to purchase auto insurance policies in as little as five minutes are popping up in insurance offices in Tennessee, previewing a larger rollout that will put them in ...
Senators Seek to Kill Tax Break for Corporate Settlement Costs
Banks and corporations would no longer be able to claim tax deductions for certain payments made under legal settlements with the U.S. government involving alleged business misconduct, under ...
AIR Estimates Windstorm Christian Insured Losses Could Exceed $3B
Catastrophe modeling firm AIR Worldwide estimates that insured losses from Windstorm Christian (known as St. Jude in the UK) will range between EUR 1.5 billion and EUR 2.3 billion ($2.0 billion and ...
Towers Watson Completes Sale of Reinsurance Business for $250M
Towers Watson & Co. said Wednesday that it has completed the sale of its reinsurance brokerage business to Jardine Lloyd Thompson Group PLC for $250 million but plans to continue working with its ...
Swiss Re Net Beats Analyst Forecasts as Non-Life Sales Jump
Swiss Re Ltd., the world's second- biggest reinsurer, reported better than expected third-quarter profit after non-life premiums rose by a fifth. Net income fell 51 percent to $1.07 billion from a ...