National News

Cheerleader Uniform Case Tests Copyright Protection for Designs

The U.S. Supreme Court agreed to use a clash between rival makers of cheerleading outfits to clarify the scope of federal copyright protection for pictures and graphic designs. The justices on Monday said they will hear an appeal from Star …

AIG Q1 Net Loss of $183M Tied to Hedge Funds, Energy Investments

American International Group Inc., the insurer that’s shrinking under pressure from activist shareholders, posted a third-straight unprofitable quarter on losses from hedge funds and declines in the value of other investments. The first-quarter net loss of $183 million, or 16 …

Commercial Auto Insurance Remains a Loser on the Whole: Fitch

While the property/casualty industry has reported three consecutive years of significant underwriting profits, the commercial auto market as a whole reported an underwriting loss for the fifth consecutive year in 2015. In short, U.S. commercial auto insurance has evolved into …

Ex-AIG Executive Johnston to Succeed Duclos as CEO for QBE North America

A former AIG executive is joining QBE to become CEO of its North American operations. Russell Johnston will succeed David Duclos in the role of QBE CEO for its North American operation starting on May 31, and be based in New York. …

Buffett Downplays Succession Speculation In Wake of Jain Assuming General Re Role

Among the insurance-related highlights of Berkshire Hathaway’s annual meeting in Omaha, Neb. was Warren Buffett’s answer to a question about succession planning for subsidiaries. “There are no tea leaves to read in the fact that Ajit [Jain] is supervising Gen …

Bain Capital, Vista Equity Buy Agency Technology Firm Vertafore from TPG

Bain Capital Private Equity and Vista Equity Partners have agreed to acquire insurance agency technology firm Vertafore from TPG Capital. The parties did not disclose terms of the transaction. Reuters, citing anonymous sources, said it was for $2.7 billion TPG …

Willis Programs Launches DroneGuard for Unmanned Aircraft Systems

Willis Programs, a unit of Willis Towers Watson, and the Association for Unmanned Vehicle Systems International (AUVSI), an industry association for unmanned systems, have partnered to develop DroneGuard, an insurance program for AUVSI’s members. DroneGuard is designed for unmanned system …

Supreme Court Denies BP Investors’ Class Action Over Losses Tied to Gulf Oil Spill

The U.S. Supreme Court on Monday declined a request from shareholders seeking to revive their class action lawsuit against BP claiming the British oil company misrepresented its safety procedures prior to the 2010 Gulf of Mexico oil spill. The court …

Facebook, CEO Zuckerberg and Paying to Protect Corporate Executives

Facebook Inc. revealed that it spent $4.26 million on security for Mark Zuckerberg last year, its first disclosure of such costs, and the highest among companies in the Standard & Poor’s 500 Index that have filed proxy statements for fiscal …

Timeline: From Teen to Octogenarian, How Buffett’s Wealth Has Grown

In 2016, it’s easier than ever to play the financial markets. From the explosion of online brokers to the rise of robo-advisors, armchair investors have dozens of tools just a few clicks or taps away. Daily trading is a snap. …

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