AXIS Capital Holdings’ money-losing insurance segment has drawn the attention of A.M. Best, which revised its outlooks for the Bermuda-based carrier to negative from stable, based largely on its performance. “The revised outlooks are based on unfavorable trends in the …
The road to profits is paved with good data. Every hour, a modern car processes about 25 gigabytes of information — the equivalent of about seven full-length high-definition movies — on everything from engine temperature and tire pressure to what’s …
India’s City Union Bank said on Sunday that “cyber criminals” had hacked its systems and transferred nearly $2 million through three unauthorized remittances to lenders overseas via the SWIFT financial platform. The comments come after the small private lender on …
Flood warnings continue along the Ohio River in West Virginia following recent heavy rains. The National Weather Service says the Ohio River was nearly seven feet above flood stage Sunday at Point Pleasant. It was expected to fall below flood …
The third annual Insurance Careers Month kicked off with the annual Insurance Careers Movement (ICM) Town Hall on Feb. 1 in Chicago. Co-hosted by A.M. Best and ICM, the virtual event assembled executives from companies around the world. Since 2016, …
General Electric Co. was sued on Friday by a shareholder who accused the conglomerate of concealing mounting insurance liabilities and a U.S. Securities and Exchange Commission probe, saying it cost shareholders tens of billions of dollars. The complaint filed by …
Google’s firing of an engineer over his controversial memo criticizing its diversity policies and “politically correct monoculture” didn’t violate U.S. labor law, a federal agency lawyer concluded. Statements in James Damore’s 3,000-word memo “regarding biological differences between the sexes were …
A Florida woman called police because she thought she heard a prowler. She actually was hearing the first of several sinkholes that have opened up in a Florida retirement community, displacing seven people. The Villages resident Doris Morrill says she …
NAS Insurance Services has released a new miscellaneous E&O architects and engineers (A&E) insurance product that includes coverage for technology services and cyber liability coverage. NAS’ Architects and Engineers insurance provides three insurance products in one: A&E professional services liability …
Birmingham, Ala.-based Infinity Property and Casualty were bought for $1.4 billion. Kemper Corp. acquired the auto insurance provider in a cash and stock transaction, making it one of the largest nonstandard auto insurers in the country, Al.com reported. The merger …
