U.S.
Executives On The Move at AIG and Brit Global Specialty USA
AIG's deputy general counsel is retiring, and his replacement begins in the position on March 8. Brit Global Specialty USA has a new senior vice president with a focus on cyber and technology. *** ...
Victims of Takata’s Exploding Air Bags Seek to Delay $1B Settlement
People injured by Takata Corp.'s exploding air bags asked a judge to delay approving the $1 billion settlement with the U.S. hours before the car-parts maker was due to appear in court to plead ...
Too-Big-to-Fail Rule Under Attack From House Republicans
Congressional Republicans are taking aim at the regulatory process through which some financial institutions become subject to heightened regulation because they are deemed too big to fail. In a ...
State Farm’s Auto Underwriting Loss Soared to $7B in 2016; Profit Plunged
State Farm Mutual Automobile Insurance Co., the largest U.S. property-casualty insurer, said annual profit fell 94 percent on car insurance claims costs. Net income dropped to $400 million from $6.2 ...
Gaps Permeate Within Small Business Disaster Recovery Plans: Nationwide
Carriers targeting the small-business insurance market have their risk management jobs cut out for them in a key area: Many clients don't have a written disaster recovery plan in place despite a need ...
QBE CEO’s Relationship With Assistant Distracts From Stellar Financial Results
Although Australia's QBE reported its best underwriting results in six years, Group CEO John Neal was forced to field a barrage of questions during a media briefing about why the board decided to ...
Report: AIG Explores Penalizing or Booting CEO Hancock Over Turnaround Setback
American International Group Inc's directors are discussing whether to penalize or oust Chief Executive Peter Hancock over a major setback in the insurance firm's turnaround plan, the Wall Street ...
Brexit Aftermath: UK-Regulated Ship Insurers Eye Luxembourg, Cyprus Outposts
U.K.-regulated ship insurers are preparing plans to open new outposts in European Union jurisdictions such as Luxembourg and Cyprus, fearing that Brexit will hinder access to the EU's financial ...