Key House and Senate members have reached a bipartisan deal to delay changes to the federal flood insurance program that are raising premiums for many homeowners. The bill would require regulators to address affordability of the coverage before implementing rate …
Marsh & McLennan Cos., the biggest insurance broker by market value, has climbed to a 9-year high, bouncing back from the plunge that followed then-New York Attorney General Eliot Spitzer’s lawsuit against the company. The broker has rallied 35 percent …
Toyota Motor Corp. reached a deal on Friday to resolve a lawsuit in the United States over unintended acceleration issues, one day after a jury found the Japanese carmaker liable and ordered it to pay $3 million for defects that …
Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, announced that it is “helping insurers and reinsurers prepare for current and future U.S. hurricane seasons with its innovative storm surge model. “Ahead of the one-year anniversary of …
UK-based Castel Underwriting announced the launch of a “new club style MGA formation platform that provides experienced and entrepreneurial underwriters with stable capacity and a fast-track route to creating their own businesses.” The new venture is headed by the former …
Following a Board of Directors meeting, London-based Steamship Mutual announced that it has “reviewed the Club’s open policy years, as well as claims in earlier years, and considered the premium ratings required for the 2014 policy year.” On the basis …
A recent report from McKinsey & Co. had some bad news for local property/casualty insurance agents— many of them will be out of business within the next five to 10 years. McKinsey contends that “the economics of the traditional agent …
Historians may look at the year 2013 as a “cyber tipping-point” — the point at which businesses and governments finally realized the severity of the threats they were facing, according to Advisen, a New York-based commercial insurance research and data …
D.A. Gohil’s family is still rebuilding its convenience store business in Nicholas County, a year after Superstorm Sandy buried parts of West Virginia in wet, heavy snow that collapsed roofs and pulled down power lines. The thick snow from the …
An Alabama woman has filed suit seeking $5 million from the owners of a Kentucky motel where she says she was infected with Legionnaire’s disease. Vera Ann Johnson and husband John Allen Johnson of Wedowee filed suit in circuit court …
