While 2012 wasn’t as tumultuous as 2011, it had its share of insurance shaking trends and events. Here in roughly chronological order are some of them: 1) The costs of the flooding in Thailand in 2011, wasn’t conclusively calculated until …
Florida’s high court has ruled that drivers that cause an automobile accident by striking another car from behind can still sue the other driver for damages depending on the circumstances of the accident and the other driver’s actions. The Florida …
Zurich Insurance reported continued progress in its strategy to exit non-core businesses with two “key milestones” aimed at concentrating its efforts on its principle business activities in the delivery of its strategy to exit its non-core businesses. Zurich announced that …
The worst of the euro zone sovereign debt crisis is over, German Finance Minister Wolfgang Schaeuble has said in an interview to be published on Friday. Schaeuble said governments in heavily indebted countries such as Greece have now recognized that …
The 100-plus year-old independent agency distribution system is expanding, according to Future One’s 2012 Agency Universe Study. The number of independent agencies, it states, has recently increased to 38,500. Still, some voices claim that the agency business, as we know …
A group of Farmers Group Inc. agents have filed a lawsuit in Los Angeles Superior Court alleging the Los Angeles, Calif.-based carrier has undercut them by sharing their data with a competing subsidiary and several contract violations. The United Farmers …
Arthur J. Gallagher & Co. acquired The Eriksen Group Inc., in Birmingham, Mich. Terms of the deal were not disclosed. The Eriksen Group is a retirement consulting firm that provides ongoing and project-based retirement consulting services to clients throughout the …
Canadian private equity firm Onex Corp. said today it has completed its previously announced acquisition of USI Insurance Services from Goldman Sachs Group’s GS Capital Partners for approximately $2.3 billion. The transaction was first announced one month ago. The price …
Analysts at two rating agencies, Fitch and Moody’s, believe property/casualty insurers’ prior-year loss reserve takedowns will continue to outpace reserve additions in 2013. The analysts spoke about P/C industry reserving trends as they reviewed their year-end outlooks and 2013 forecasts …
On-road driving tests, a rite of passage for high school students, could soon join eight-track tape players and bench seats in automotive obsolescence. Researchers at the University of Virginia School of Medicine are studying the effectiveness of virtual reality driving …
