Moody’s released a report on Monday assessing the impact of the wildfires in California on property/casualty insurers. “Based on history and the number of structures damaged, insured losses will run into the billions of dollars, a credit negative,” the report …
Specialty broker AmWINS Group reports it has agreed to acquire 15 insurance programs from broker Willis Towers Watson. Among the programs being acquired by AmWINS are MountainGuard, which provides underwriting, claims and loss control services to the majority of ski …
PG&E Corp. at the end of last week capped its worst week in nine years on speculation that downed power lines may have played a role in deadly wildfires raging across California. And the rout is far from over. After …
The U.S. Supreme Court on Monday agreed to resolve a major privacy dispute between the Justice Department and Microsoft Corp. over whether prosecutors should get access to emails stored on company servers overseas. The justices will hear the Trump administration’s …
Bermuda-based reinsurer Hiscox Re, along with insurance linked securities investors (ILS), has launched a flood insurance product for personal lines insurers to sell in the U.S. The turnkey flood insurance product, named FloodXtra, is designed to take advantage of the …
A 17-year-old New Jersey teenager is in the hospital with extensive burns after he was shocked by high voltage lines on a train trestle. Lance Vargas’ grandmother says the teen is currently in the hospital with broken bones and burns …
Research from Willis Towers Watson published earlier this month revealed that insurers doing acquisitions in 2016 underperformed in comparison to peers that stayed away from M&A. WTW used a performance measure based on share price changes for the comparison. Noting …
Freeborn & Peters LLP has hired Sean Thomas Keely to the firm’s New York office as a partner in the Litigation Practice Group and a member of the Insurance and Reinsurance Industry Team. The addition of Keely continues the expansion …
A bill under consideration for the next legislative session would allow car manufacturers to test automated vehicles on New Hampshire roads by January 2019. The Concord Monitor reports under the proposal, anyone with a self-driving vehicle, a $10 million insurance …
A trio of third-quarter hurricanes and continued catastrophe losses impacting insurers and reinsurers will have a greater impact on reinsurers—and may potentially fuel reinsurance rate hikes at the Jan. 1, 2018 renewal date, S&P Global Ratings said Friday, Oct. 13. …
