Insurance companies have spent $17 million to defeat proposals to weaken or abolish the for-profit bail industry in the United States, a system that brings insurers $15 billion in business a year, according to a Reuters analysis of campaign contributions, …
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 operations, industry sources say. New policies and renewals now define terms like …
American International Group Inc. said on Wednesday it is hiking some commercial insurance rates by as much as 45%, a trend it sees persisting in 2021, as the company prepares to install Peter Zaffino as its new chief executive on …
When Jerald Tillman and Mike James started their careers more than 20 years ago, working in the U.S. insurance industry was not on their radar, but programs to attract Blacks and other minorities brought them into the fold. Today, Tillman …
Cyber security has emerged as the most pressing exposure for business confronting a new “age of risk,” topping the coronavirus pandemic and climate change, in part because cybercrime is so pervasive, the head of insurance broker and consulting firm Marsh …
U.S. life insurers face questions about their ability to cover a sudden rush of claims after the Federal Reserve highlighted liquidity and leverage risks in a report this week. Issues the Fed focused on are not new: Life insurers have …
Insurers appear to have dodged a revival of strict regulations and policy upheavals after an anticipated Democratic “Blue Wave,” which would have allowed progressives to push for broad reforms, failed to materialize on Wednesday, said industry executives. The U.S. presidential …
As insurers brace for an expensive natural-disaster season because of storms and wildfires ravaging parts of the United States, the novel coronavirus is giving them an odd financial break. Many companies that were damaged or evacuated because of natural catastrophes …
U.S. insurers and brokers are starting to craft professional liability coverage for police officers, spurred on by signs that policymakers in some cities and states want to use a financial stick to curb police misconduct. They see a potential market …
U.S. property and casualty insurers have cast the coronavirus pandemic as an unprecedented event whose massive cost to small businesses they are neither able nor required to cover. The industry has warned it could cost them $255 billion to $431 …
