The Travelers Companies boosted its net income for the quarter ended March 31, 2018, by 10 percent to $669 million compared to $617 million in the prior year quarter despite unusually high catastrophe losses in March. Catastrophe losses in the …
Congress is headed for a “major showdown” over the flood insurance program, according to an insurance broker lobbyist who notes that the program expires July 31, right in the middle of hurricane season. That also happens to be the very …
Two leading Los Angeles-based national wholesale insurance businesses will be joining forces as Worldwide Facilities has agreed to acquire The Sullivan Group. Worldwide Facilities plans to acquire all of the outstanding capital stock of Sullivan. No other financial details were …
In another step shifting risk to private markets, the Federal Emergency Management Agency (FEMA) said it intends to secure additional reinsurance for the National Flood Insurance Program (NFIP) through issuance of a catastrophe bond. FEMA began purchasing private reinsurance in …
Medical marijuana laws could be a boon to those battling the opioid epidemic, according to researchers who have identified a link between increased access to medical marijuana and a reduction in opioid prescriptions. The studies suggest medical marijuana laws (MMLs) …
The Hanover Insurance Group is weighing the sale of its international specialty insurance business, London-based Chaucer. The Worcester, Mass.-based company issued a statement confirming that it “is undertaking a review of strategic alternatives, including a possible sale” for Chaucer. The …
At a time when the nation’s workers’ compensation system is facing an aging workforce and a pending widespread labor shortage, federal policies on immigration and health insurance promise to exacerbate these challenges and contribute to causing far more claims and …
Insurance broker Lockton is ending its participation in an insurance program for members of the National Rifle Association, joining MetLife, United Airlines and other companies that have been canceling their business affiliations with the gun owners’ organization. Lockton has been …
Warren Buffett’s Berkshire Hathaway’s combination of insurance entities have recorded 14 consecutive years of underwriting profit worth more than $28 billion. The Oracle from Omaha has repeatedly warned his shareholders that this profit streak could end anytime. He was right. …
Giant insurer Chubb has joined a list of companies that are halting business deals with the National Rifle Association (NRA). However, the insurer confirmed to Insurance Journal that the decision was made several months ago, before the latest mass shooting …
