Industry News

Claims Journal

Utility Requested Rate Hike last Month Over California Fires

Nov 20, 2018 A utility facing severe financial pressure amid speculation its equipment may have sparked a deadly Northern California wildfire asked U.S. energy regulators last month for...

N.J. High School Football Team Trains With Mechanical Dummy

Nov 20, 2018 It weighs 195 pounds and can run 20 miles per hour. It’s not a Division I football recruit, but rather a motorized padded tackling dummy for players to learn safe...

Connecticut Crumbling Foundations Chief Concerned Delayed Funding

Nov 20, 2018 The superintendent of the new entity that’s expected next month to begin distributing millions of dollars to Connecticut homeowners with crumbling foundations...

Firefighter Sees lessons for Montana in California Wildfires

Nov 20, 2018 Last week, Evergreen Fire Chief Craig Williams stood in a neighborhood near Malibu, California, and took in a blackened, devastated landscape. ‘There is a lot of...

Insurance Journal

AXA XL Buys 100% of New Ocean to Build Alternative Capital Business

Nov 20, 2018 AXA XL’s reinsurance operation has completed the acquisition of all third party ownership interests in its majority-owned asset management affiliate...

Brexiteer Plot to Oust UK Prime Minister May Falters

Nov 20, 2018 Evidence is mounting that the plot to oust U.K. Prime Minister Theresa May is faltering. To trigger a vote of no confidence in her leadership, a total of 48 Conservative...

How Insurance Market Will Expand in Age of Autonomous Vehicles

Nov 20, 2018 Though it’s estimated that by 2025 auto insurance premiums will drop by $25 billion as a result of the adoption of driverless cars, the insurance market is...

Florida Picks Up the Pieces from Powerful Hurricane Michael

Nov 20, 2018 It has been just over a month since Hurricane Michael slammed the Florida Panhandle as a Category 4 hurricane with wind speeds reaching just shy of Category 5 status...

Best's Reviews

PCI: Tariffs Could Increase Auto Insurance Claims Costs by $3.4 Billion

Nov 19, 2018 The Property Casualty Insurers Association of America says the cost of proposed tariffs on automobiles and auto parts could increase auto...

Brit Launches Multi-Arrangement Insurance Special Purpose Vehicle Sussex Capital UK

Nov 19, 2018 Brit Ltd. said it has launched Sussex Capital UK PCC Ltd., described by the insurer and reinsurer as a multi-arrangement insurance...

A.M. Best Upgrades Credit Ratings of Wisconsin Mutual Insurance Company

Nov 19, 2018 A.M. Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “...

Tokio Marine Gains UK Approval to Complete Brexit-Related Policy Transfers

Nov 19, 2018 Tokio Marine Group said it won approval from the High Court of England and Wales to transfer existing policies written in Europe to its new...