JLT Re’s global property-catastrophe reinsurance index fell 1.2 percent in Jan. 1 policy renewals, the broker said on Wednesday, dashing the industry’s hopes of higher reinsurance premiums after a second straight year of big losses. Reinsurance prices, chiefly set in …
It’s been another year of relentless artificial-intelligence hype and incremental AI achievement. Machines still beat humans only in carefully constructed environments or at narrow tasks. The good news is that, as the technology progresses, the race for leadership is still …
The Carlyle Group Global is now the majority owner of claims and technology services firm Sedgwick. Funds managed by Carlyle completed an ownership transaction that is valued at approximately $6.7 billion on Dec. 31. Previous majority shareholder KKR is fully …
A lawsuit filed against Google by users who said the world’s largest search engine violated their privacy by using facial recognition technology was dismissed by a judge on Saturday. U.S. District Judge Edmond E. Chang in Chicago cited a lack …
China Reinsurance (Group) Corp. announced it has completed the 100 percent equity acquisition of Chaucer Holdings Ltd. — the major portion of Hanover Insurance Group’s Lloyd’s international specialty business. The acquisition of Chaucer Insurance Co. DAC (Chaucer Dublin) and Hanover …
A lawsuit targeting California coffee houses for not including warning labels on their products tops the U.S. Chamber Institute for Legal Reform’s (ILR) list of the Top 10 Most Ridiculous Lawsuits of 2018. This year’s list features lawsuits by a …
Not surprisingly, the American Association for Justice—representing the country’s trial lawyers– takes a very different view of the civil justice system than does the U.S. Chamber’s Institute for Legal Reform’s (ILR). The busIness-oriented ILR issues an annual list of the …
Insurance Journal readers showed the most interest in stories relating to industry consolidation in 2018, with nine of the most read 25 national news articles of the year having to do with mergers or acquisitions. But the national story drawing …
A cyberattack caused major printing and delivery disruptions on Saturday at the Los Angeles Times and other major U.S. newspapers, including ones owned by Tribune Publishing Co such as the Chicago Tribune and Baltimore Sun. The cyberattack appeared to originate …
Last Friday evening, the Federal Emergency Management Agency (FEMA) announced that the National Flood Insurance Program (NFIP) will resume the normal sale of new insurance policies and the renewal of expiring policies. This order rescinded an earlier decision that halted …
