American International Group Inc. shareholders on Wednesday approved the company’s 2016 compensation for executives, including the insurance giant’s former chief executive, Peter Hancock. Shareholders at the annual meeting in New York voted to award Hancock a total compensation of $9.58 …
Uber’s ride-hailing app is making it easier for its users to set up trips for seniors and others who may not know their way around a smartphone but still need help getting around town. The new feature, released on Tuesday …
Many clients are unaware that intellectual property (IP) risks are frequently inadequately covered by traditional insurance products and, as a result, they actually could be “dangerously underinsured” due to these coverage gaps, according to Ian Lewis, IP underwriter at Tokio …
PartnerRe Ltd. announced that Tad Walker, CEO Property & Casualty, and Marvin Pestcoe, chief risk and actuarial officer, will both retire from the company at the end of the first quarter of 2018. PartnerRe is conducting external searches for Walker’s …
Guy Carpenter & Co. has launched a new unit offering dedicated retrocession services to clients in the Asia Pacific region called GC Asia Pacific Retro. GC Asia Pacific Retro provides a wide range of retrocession property solutions, linking with Guy …
The European Commission proposed on Thursday establishing a new pan-European pension product to increase private savings for old age and boost the growth of an EU industry currently worth some 700 billion euros ($800 billion). The measure is part of …
A global task force set up by the G20 has developed a voluntary framework for companies to disclose the financial impact of climate-related risks and opportunities, drawing support from more than 100 companies with $11 trillion of assets. There are …
Allianz Global Corporate & Specialty (AGCS), Allianz Group’s unit for corporate & specialty insurance business, has opened a branch office in South Korea to serve global corporate clients. AGCS said it has become the first foreign non-life insurer in almost …
Autonomous vehicle technology, a rise in on-demand transportation and a shifting of liability to manufacturers will shrink the auto insurance sector by more than 70 percent or $137 billion by 2050, according to updated research by KPMG. In a 2015 …
Authorities say an 84-year-old Florida doctor is accused of illegally distributing $10 million worth of pain pill prescriptions. Dr. Williem Ouw was arrested June 15 and held in a Fort Lauderdale jail until his release Wednesday on a $500,000 bond. …
