Articles by Andrew G. Simpson

Travelers Says It’s ‘Where It Needs to Be’ to Compete; Q2 Results Dampened by Weather

Small business insurance leader Travelers Companies is well-positioned to continue to compete in the small commercial insurance space that is attracting new entries including technology-driven start-ups, according to CEO Alan Schnitzer. “We think we are where we need to be …

Trump Administration to Sign Insurance Regulation Pact with European Union

The U.S. Treasury Department and the Office of the U.S. Trade Representative said they will sign the bilateral agreement between the United States and the European Union regarding regulation of insurance and reinsurance. In addition to signing the so-called covered …

Wells Fargo Nears $142 Million Consumer Settlement Over Fake Accounts

A California judge has granted a preliminary approval for Wells Fargo & Co.’s agreement to pay $142 million, and perhaps more, to customers whose credit scores were harmed by its employees creating fake accounts in their names, the bank said …

HCI to Expand Flood Insurance Sales to Nine States

As Congress tries to figure out how to change the federal flood insurance program to encourage more private insurer involvement, one insurer isn’t waiting to wade deeper into the private flood insurance business. Florida-based HCI Group is looking to take …

Willis Re North America Names Ingle Head of Analytics

Brian Ingle will lead the Analytics team for Willis Re North America following Alice Underwood’s appointment as head of Risk Consulting and Software. Ingle will report to Jim Bradshaw, CEO, Willis Re North America. Ingle joined Willis Re in 2006 …

Facts About Fireworks: 11,000 Injuries, 4 Deaths in 2016

The Fourth of July means fireworks across America and that can mean thousands of injuries and trips to hospital emergency wards. An estimated 7,600 of the total 11,000 fireworks-related injuries in 2016 were treated in hospital emergency departments during the …

USI Wins Competition to Acquire Wells Fargo Insurance Businesses

Wells Fargo is selling its commercial insurance business to national brokerage USI Insurance Services. USI said it has agreed to acquire Wells Fargo Insurance Services USA that includes commercial insurance brokerage and consulting, employee benefits and property/casualty national practices, along …

Powered by Homegrown Insurtech, HCI to Expand Flood Insurance Sales to 9 States

As Congress tries to figure out how to change the federal flood insurance program to encourage more private insurer involvement, one insurer isn’t waiting to wade deeper into the private flood insurance business. Florida-based HCI Group is looking to take its …

House Committee Adds 5 More Bills to Its Flood Insurance Reform Package

The House Financial Services Committee advanced five flood insurance proposals on Wednesday, adding to the two bills it passed last week. The House measures seek to reform and reauthorize the National Flood Insurance Program (NFIP), which is set to expire …

U.S. P/C Insurance Industry Keeps Quiet on Trump Exit from Paris Climate Accord

The U.S. property/casualty insurance industry, which has been facing rising claims bills for extreme weather events, mostly reacted with silence to President Donald Trump’s decision to withdraw the country from the Paris climate change accord. The American Insurance Association (AIA), …