An Olympus Corp. subsidiary pleaded guilty on Monday and agreed to pay $85 million to resolve charges that it failed to file reports with U.S. regulators regarding infections connected to its duodenoscopes while continuing to sell the medical devices used …
Wells Fargo & Co. must keep a lid on its growth until the bank has hardened its risk management policies to prevent any further abuse of its customers, said Jerome Powell, chairman of the Federal Reserve. In February, the Fed …
Commercial insurance prices in the U.S. increased by more than two percent in the third quarter of 2018, according to the Willis Towers Watson Commercial Lines Insurance Pricing Survey (CLIPS). The survey compared prices charged on policies written during the …
Ratings analysts at A.M. Best said improved underwriting performance in the private passenger auto line of business, lower—albeit still elevated— catastrophe experience and favorable investment returns have convinced them to maintaining a stable market segment outlook for the personal lines …
With a growing number of apps and on-demand services, millennials in particular are increasingly ordering take-out food from their favorite restaurants. As more restaurants expand services into delivery, risk managers must be mindful about vehicle exposures and aggressively manage not …
Record high customer satisfaction among auto insurance customers is clearly good news for customers, especially at a time when their overall customer experience is being tested by the rising cost of auto insurance. For insurers, on the other hand, record …
With prices of rare whisky soaring into the six and seven digits, ensuring that precious spirit is protected is not only recommended but essential, says Ron Fiamma, head of global collections at AIG’s private client group. The insurance giant has …
On Friday Dec .7, Markel Corp. said it was fully cooperating with inquiries by U.S. and Bermuda authorities into loss reserves recorded in late 2017 and early 2018 at Markel CATCo Investment Management Ltd., the company’s investment manager, and its …
Total aggregated economic losses for the wildfires that have burned across Northern and Southern California throughout the month are expected to minimally exceed $10 billion, while insurance claims payouts for wildfires are set to exceed $10 billion in the United …
Two U.S. senators are seeking to outlaw a legal tactic that predatory lenders have frequently used to seize money from small businesses. Senators Sherrod Brown, the top Democrat on the Senate Banking Committee, and Marco Rubio, a Florida Republican, said …
