commercial insurance News
Liberty Mutual and TuSimple to Assess Autonomous Truck Safety
Liberty Mutual Insurance plans to work with TuSimple, a self-driving technology company, to assess if autonomous trucks are safer than human-driven vehicles. Specifically, the companies will compare ...
New FAA Rules Should Expand Commercial Use of Drones
New Federal Aviation Administration rules are expected to clear the way for expanded commercial use of drones, which are increasingly being used by insurers to assess property damage. The updated ...
Save for Cyber, Global Commercial Insurance Price Hikes Begin to Moderate: Marsh
Global commercial insurance pricing continued its double-digit growth in the 2021 first quarter, but the rate of increase dipped for the first time since late 2017, Marsh found in its latest market ...
Insurer Representing Grounded Suez Ship Appeals Detention by Egypt
Double-Digit Rate Hikes Help Propel W.R. Berkley’s Robust Q1 Results
W.R. Berkley Corp. reported record quarterly underwriting income, double-digit premium growth and healthy rate increases in the first quarter. The commercial lines insurer and reinsurer also saw its ...
Dislodged Ship Kept in Suez Canal as Compensation Claims Talks Continue
A ship that blocked the Suez Canal for almost a week in March has not been given clearance to leave the waterway as discussions continue over a compensation claim made to the vessel's owner Shoei ...
Insurance Companies Won’t be Covering Suez Shipping ‘Lost Expenses’ Costs
The owners and charterers of ships unable to sail through the the Suez Canal for nearly a week face at least $24 million in expenses they will be unable to recoup as their insurance policies do not ...
Massive Losses Likely for Reinsurers After Suez Canal Blockage: Fitch Ratings
The blocking of the Suez Canal by one of the world's largest container ships is likely to result in losses worth hundreds of millions of euros for the reinsurance industry, Fitch Ratings said, even ...
After Pandemic Legal Tussles, Insurers Rewrite Business Policies
U.S. insurers are strengthening language in policies that cover business losses to protect them from future claims related to the coronavirus pandemic or other widespread illnesses that disrupt ...