Billions at Stake as BP Oil Spill Trial Enters Next Phase
BP will battle to hold down fines that could hit $18 billion in a new phase of the Gulf of Mexico trial that will rule on how much oil it spilled in 2010 and judge its efforts to plug its …
Profits Steady, GWP Up, But Investments Still Low: Lloyd’s CFO Luke Savage
Lloyd’s first six months results, released yesterday, were generally good. Profits were down slightly at £1.38 billion [[$2.222 billion] from £1.53 billion [$2.463 billion] for the first half of 2012, while gross written premiums rose 4.9 percent [3.3 percent when …
West Virginia Senator Manchin Bucks Democrats, Backs Health Mandate Delay
U.S. Senator Joe Manchin of West Virginia broke ranks with fellow Democrats and said he’d support a stopgap spending plan that delays the individual mandate in President Barack Obama’s health-care law. “There’s no way I could not vote for it,” …
Insurance Institute Cites Top Cars for Crash Avoidance
Cadillac, Mercedes-Benz, Volvo and Subaru earned the highest marks in a new front crash avoidance test program developed for the U.S. insurance industry. The Insurance Institute for Highway Safety, a non-profit group funded by the insurance industry, rated 2013-2014 vehicles …
Groups Say Regulators Allow Unsafe Mexican Trucks on U.S. Roads
Regulators determined to let Mexican trucks on U.S. roads under a trade deal have downplayed safety shortcomings with companies in a border-crossing pilot program, according to safety, trucking and labor groups. Trucking authorities violated their own rules by letting one …
Neither Rain Nor Sleet But Dog Bites: Post Office Workers’ Injury Claims
The cost of workers’ compensation for the United States Postal Service (USPS) for fiscal year 2012 was $3.7 billion, a 68 percent increase from the $2.2 billion reported in fiscal year 2009. There were 32,213 reported injuries in fiscal year …
XL Puts Preliminary Losses at $60 Million from Germany, France Hail Storms
XL Group plc announced its preliminary net loss estimate related to the series of hailstorms in Germany and France in late July 2013 of $60 million, pretax and net of reinsurance and reinstatement premiums. The majority of these losses relate …
Metcalf to Head New Liberty Mutual Specialty Markets Unit
Liberty Mutual Insurance Group announced that Nick Metcalf has been named President and Group Managing Director of Liberty Specialty Markets, a new operation created by integrating the Company’s existing Lloyd’s Syndicate, Liberty Mutual Insurance Europe / LIU Europe and U.S.-based …
Willis’ Report Sees Energy Market ‘Softening’
“Too much capacity chasing an insufficient amount of premium in both the downstream and upstream energy markets will cause a general softening of the energy market in the remainder of 2013,” according to to Willis latest Energy Market Review Newsletter. …
Global Warming Slows as Fossil Fuel Emissions Rise to Record
Global warming has slowed since 1998 even though humans are spewing ever more greenhouse gases and are almost certainly to blame for damaging the atmosphere. That’s according to a 36-page summary of a report from a United Nations panel released …
