The North Carolina Senate has passed a bill which requires moped drivers to register their vehicles with the state and carry insurance. The vote was 36-11. It remains to seen if the House will go along. The House measure passed …
North Carolina’s insurance commissioner has postponed until October a hearing into a request by homeowners insurance companies to raise rates by an average of 25 percent statewide. Commissioner Wayne Goodwin said the public hearing to be held in Raleigh has …
Nissan Motor Co. will introduce cars that park themselves by 2016, Chief Executive Officer Carlos Ghosn said, as the Japanese carmaker rushes to be among the first to offer automated driving. The feature, along with technology enabling cars to autonomously …
Fitch Ratings is forecasting that 2014 will end up as the second consecutive year of underwriting profits for the property/casualty industry with modest increase in the combined ratio. But the results for 2014 won’t quite match the strong performance by …
According to catastrophe modeling firm AIR Worldwide, Typhoon Rammasun weakened as it crossed the Philippine island of Luzon and passed to the south of Manila, where wind speeds of 60-140 km/hr (37-87 mph) were observed, along with heavy rainfall. Rammasun …
Starr Companies has announced the completion of its majority ownership of Shanghai based Dazhong Insurance Company Limited of China. The company will be renamed as Starr Property & Casualty Insurance (China) Company, Limited (Starr China). “We are pleased to announce …
A.M. Best has assigned the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” to Starr Property & Casualty Insurance (China) Company, Limited (Starr China), formerly known as Dazhong Insurance Company Limited. The name change is pending …
Emerging Capital Partners, a private-equity firm that has raised more than $2 billion for investments in Africa, is considering selling its majority stake in Nigeria’s Continental Reinsurance Plc. The buyout firm’s Africa Fund II is “exploring” the sale of C-Re …
The threat posed by criminal hackers who use networks of secretly hijacked computers has increased “dramatically” over the past several years, a top U.S. Justice Department prosecutor testified Tuesday. Leslie Caldwell, the assistant attorney general for the department’s criminal division, …
Aon Risk Solutions, the global risk management business of Aon plc, has launched a new product designed to support the railroad industry, including Class I railroads. Called the Cantilever Excess Pollution Liability product, this new offering addresses the railroad industry’s …
