U.S.
Ex-Marsh Exec Bob Newhouse Has Died; Was Insurance Industry Innovator
Former insurance industry executive and innovator, Robert "Bob" J. Newhouse Jr., died on August 26, 2017, following a brief illness. He spent 36 years at Marsh & McLennan Cos. (MMC), where he ...
Drones to Assess Harvey Damage Will Share Space With Other Tech
In the aftermath of Hurricane Harvey and the flooding that followed, property/casualty insurers are ramping up for their widest use of drones to date to help facilitate the processing of catastrophe ...
S&P: Primary P/C Insurers—Not Reinsurers—to Bear Brunt of Harvey’s Insured Losses
While it's too early to accurately quantify the insured losses related to Hurricane Harvey, primary insurance carriers—as opposed to reinsurers—will retain the majority of losses, according to ...
Warren Buffett: Now Bank of America’s Biggest Shareholder
Warren Buffett's Berkshire Hathaway Inc has become Bank of America Corp's largest shareholder by exercising its right to acquire 700 million shares at a steep discount, more than tripling an ...
Insurers Might Escape Harvey-Related Legal Fights Due to New Texas Law
As if victims of Hurricane Harvey didn't have enough to deal with, a Texas law that takes effect Sept. 1 may make it harder for them to sue insurers for payment of claims. Texas House Bill 1774, ...
U.S. P/C Insurers Generated H1 Net Loss of $5.1B: A.M. Best
The U.S. property/casualty (P/C) industry recorded a net underwriting loss of $5.1 billion for the first six months of 2017, according to preliminary results, compared with a $2.0 billion loss in the ...
Executives On The Move at XL Catlin and W.R. Berkley
XL Catlin brought on a new client distribution leader for its Southeast broker and client management operation. W.R. Berkley's W.R. Berkley Corp.'s Berkley Program Specialists hired a business ...
Wells Fargo Accused of Charging Improper Mortgage Fees in Proposed Class Action Lawsuit
A homeowner has filed a proposed class action lawsuit accusing Wells Fargo & Co of improperly charging thousands of customers nationwide to lock in interest rates when their mortgage applications ...