ACE Group announced the launch of a new, independent cyber risk business unit as it continues to strengthen its local underwriting and risk management capabilities across Continental Europe. The announcement follows research by ACE which indicates that cyber is a …
Last year was the hottest recorded in data stretching back to 1880, the United Nations said, confirming a preliminary figure released in December. The average global air temperature over land and sea in 2014 was 0.57 degree Celsius (1.03 degrees …
Towergate Finance plc said it reached an agreement with creditors to restructure more than 1 billion pounds ($1.5 billion) of debt in exchange for control of the company. The deal will cut the insurance broker’s net obligations by more than …
The captain of the AirAsia jet that crashed into the sea in December was out of his seat conducting an unusual procedure when his co-pilot apparently lost control, and by the time he returned it was too late to save …
The Cayman Islands passed new insurance regulations on January 16, which affect portfolio insurance companies (PIC). These regulations are designed to provide more risk management alternatives for insurers incorporated as segregated portfolio companies (SPCs), creating more flexibility for their operation, …
The U.S. Army Corps of Engineers on Wednesday issued a report saying that managing the flooding risk along the North Atlantic coast from events like Superstorm Sandy is something that has to be done collaboratively by all levels of government …
Selective Insurance Group in Branchville, New Jersey, reported $41.35 million net income for the 2014 fourth quarter, a 63 percent increase from $25.34 million net income during the 2013 fourth quarter. The GAAP combined ratio for the fourth quarter was …
Grass Valley, Calif.-based Networked Insurance Agents has named Phyllis Hayes sales vice president. Hayes will be the key point of contact for independent agency members in the Los Angeles County, Ventura County, San Fernando Valley and Bakersfield areas. In her …
Woodruff-Sawyer & Co. has named Jared Pelissier a partner and senior vice president in the Southern California office. Pelissier specializes in management liability and cyber liability risks for companies of all sizes across a variety of industries. Since joining the …
Lyft Inc.’s practice of treating drivers as independent contractors was questioned by a federal judge who said that under California law they may be considered employees who would qualify for minimum wage and other benefits. A lawsuit by Lyft drivers …
