Insurance industry sources have told Reuters that AIG is the lead insurer on a $130 million “all-risks” policy for the Japan Airlines airbus 350 that was destroyed in a collision with a Japan Coast Guard plane at Tokyo’s Haneda airport on Tuesday.
Author: Annie George
Travelers Completes Acquisition of Corvus Insurance
The Travelers Companies, Inc. completed its previously announced acquisition of Corvus Insurance Holdings, Inc., an industry-leading cyber insurance managing general underwriter that is powered by proprietary technology.
Florida Lawmakers Propose Ideas to Fix State’s Homeowners Insurance Crisis
As Florida’s state lawmakers reconvene for the annual legislative session this month, one of the top issues they’re hearing from constituents about is the state’s homeowners insurance crisis. Naturally, some lawmakers and officials have ideas.
Aon: Higher Profitability, Retro Capacity Contributed to ‘Smooth’ Jan. 1 Renewals
Jan. 1 renewals were smooth compared with the previous year as the market saw greater profitability and retrocession capacity among other positive trends, said broker Aon plc.
Layoffs, Vesttoo Turmoil, Insurer Movement Dominated Insurance Landscape in 2023
There was much movement among insurers in 2023. Many laid off employees, while many diversified their coverage away from California due to increased catastrophe risks and what they viewed as an unfavorable regulatory system.
Cuts at P&C Carriers Drive 2023 U.S. Insurance Layoffs
Property and casualty (P&C) carriers were responsible for the majority of the layoffs in the US insurance industry in 2023 as the sector shed at least 6,800 jobs, according to an analysis by S&P Global Market Intelligence.
Container Shipping Rates Spike as Red Sea Crisis Draws First Blood
For cargo importers, the outlook is now clear: higher freight costs and longer delays. For liner profits, sentiment is increasingly bullish — but there are uncertainties.
McKinsey Agrees to $78M Settlement with Insurers Over Opioids
Consulting firm McKinsey and Co. has agreed to pay $78 million to settle claims from insurers and health care funds that its work with drug companies helped fuel an opioid addiction crisis.
Google Settles $5B Privacy Lawsuit Over Tracking People Using ‘Incognito Mode’
Google has agreed to settle a $5 billion privacy lawsuit alleging that it spied on people who used the “incognito” mode in its Chrome browser — along with similar “private” modes in other browsers — to track their internet use.
Businesses Eye Possible Political Protests as Looming 2024 Risk
In 2024, the U.S. election season will enter full swing against a backdrop of political polarization. With tensions high—and partisans frequently taking their grievances to the streets—some business leaders and advisers are looking warily at the risks.