U.S.
The Hanover’s Lloyd’s/Chaucer Arm Expects 2016 Q2 Underwriting Loss
The impact of catastrophes, large loss activity and foreign exchange movements are expected to bring an underwriting loss for Chaucer in the second quarter, when it will report a combined ratio in ...
BP Deepwater Horizon Spill Liability Climbs to $61.6B
BP Plc has raised the total liability from the Deepwater Horizon oil disaster, which triggered the worst offshore oil spill in U.S. history, by $5.2 billion to $61.6 billion before tax. The ...
Hiscox: Fraud Risks Prevalent at Professional Services and Small Businesses
It turns out that mid size companies in the professional services and financial industries, and small businesses overall, are particularly vulnerable to white collar crime in the U.S., Hiscox ...
Insurance Industry Slams Treasury’s New Auto Insurance Affordability Formula
Federal regulators have adopted a methodology for monitoring the affordability of automobile insurance, capping years of debate and public comments. Property/casualty insurers, however, said the new ...
Warren Buffett Gives $2.86B to Gates Charity, Four Others
Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc, has donated another roughly $2.86 billion of his holdings in the company's stock to the Bill & Melinda Gates Foundation and ...
GM Loses U.S. Appeals Court Bid for Ignition-Switch Lawsuit Shield
General Motors' 2009 bankruptcy does not shield it from lawsuits over a deadly ignition-switch defect that led to criminal charges against the automaker and prompted the recall of 2.6 million ...
N.J. Using $200M in Breaks to Lure Insurance, Tech and Financial Firms
New Jersey is offering almost $200 million in incentives over 10 years to insurance, technology and financial companies to operate across the Hudson River from Manhattan. One applicant, Ernst & ...
Q1 Troubles: Catastrophe Losses Knocked Net Income Down 26.6 Percent
Severe weather and the hefty insured losses that followed helped produce a 26.6 percent plunge in U.S. property/casualty insurers' net income during the 2016 first quarter, a new industry study has ...