Willis Group Holdings Plc plans to eliminate jobs and relocate 3,500 employees, or about 16 percent of its workforce, after reporting first-quarter earnings that missed analysts’ estimates. The moves will yield $420 million in cost savings through 2017 and $300 …
ACE Limited announced that the company and its local partner have acquired a 60.9 percent stake in The Siam Commercial Samaggi Insurance PCL, a general insurance company in Thailand, from Siam Commercial Bank. Established in 1947 and listed on the …
Allied World Assurance Company Holdings, AG announced today the launch of its ForceField management liability product suite in the Canadian market. ForceField offers five coverage components including: Directors & Officers Liability, Employment Practices Liability, Fiduciary Liability, Crime Coverage, and Kidnap …
Bermuda’s re/insurers “reaped strong earnings in 2013 despite increasing competition, persistently low investment yields, and a tepid economic recovery in the U.S. and Europe,” according to a Standard & Poor’s Ratings Services report titled “Barbarians At The Gates: Are Bermudian …
Google says its self-driving cars are motoring along: they can navigate freeways comfortably, albeit with a driver ready to take control. But city driving – with its obstacle course of stray walkers, bicyclists and blind corners – has been a …
The California Earthquake Authority reported Tuesday it has paid numerous claims for damage to homes that sustained “relatively minor damage” from the magnitude 5.1 earthquake that struck La Habra on March 28. Most CEA claim payments to date from the …
The Federal Emergency Management Agency (FEMA) issued a bulletin Monday announcing that it will grant an additional extension to Superstorm Sandy victims for the “proof of loss” filing deadline for their flood insurance claims. Under the National Flood Insurance Program …
In the face of Los Angeles Clippers owner Donald Sterling’s banishment from the National Basketball Association on Tuesday State Farm Mutual Automobile Insurance reaffirmed its stance that it’s taking “pause” of its dealings with the team. State Farm, which counts …
The Florida Office of Insurance Regulation has approved the removal of up to 10,000 multi-peril personal residential policies from Citizens Property Insurance Corp. to Southern Oak Insurance Co. This action is part of the state’s effort to reduce the number …
New Jersey has not seen a rise in crashes caused by vehicle malfunctions since it stopped motor vehicle safety inspections in 2010. An analysis by The Record newspaper found vehicle malfunctions accounted for roughly 2 percent of all yearly accidents. …
