National News

Driverless Vehicle Makers Get to Steer Own Safety Oversight

The U.S. Transportation Department unveiled a new policy that permits companies developing autonomous vehicles to self-police the technology’s safety, a move that drew plaudits from automakers but criticism from safety advocates. Transportation Secretary Elaine Chao said the policy incorporates concerns …

Judge Allows Ex-AIG Leader Greenberg’s Defamation Claim Against Ex-AG Spitzer

Maurice “Hank” Greenberg, former chief executive of American International Group Inc., may pursue large parts of his defamation lawsuit against former New York Attorney General Eliot Spitzer, a New York state appeals court ruled. Wednesday’s decision by the Appellate Division …

Green Cat Bonds Aren’t a Thing – Yet

Green cat bonds. That slinky phrase is one that Greg Lowe, global head of resilience and sustainability for Aon, would enjoy hearing uttered frequently in the near future. Lowe has been talking with an increasing number of people in the …

Small Businesses Can Manage, Cancel Own Policies with Next Insurance Portal

Digital small business insurance provider Next Insurance has unveiled a new online portal giving small businesses more control over their insurance policies. The portal offers what Next says are several unique insurance services, including the option to cancel a policy …

Allianz Specialty Goes Live with ‘Insurtech’ for Small Business Brokers, Policyholders

Borrowing ideas from some insurtech startups, Allianz Global Corporate & Specialty has a new platform for brokers and their Main Street customers “from barber shops to bakeries and toy stores to tailor.” The site, AllianzGo, promises U.S. brokers and policyholders …

Some Banks Already Follow Consumer Bureau’s Softer Arbitration Policy

Senator Elizabeth Warren, who opposes efforts to dismantle a new rule allowing customers to sue financial companies in class actions, released letters on Tuesday from U.S. bank CEOs in which they declined to defend lobbying against the measure and several …

Trucking Industry Backs Bills Easing Self-Driving Vehicle Regulation

A U.S. trucking trade group and truck maker Navistar International Corp. urged a U.S. Senate panel on Wednesday to include self-driving commercial trucks in proposed legislation intended to speed autonomous vehicles to market. The House last week unanimously approved a …

Fitch Expects Most Insurers, Reinsurers to Handle Losses from Both Harvey, Irma

Fitch Ratings reported that based on its initial assessments, most U.S. insurance companies and global reinsurers that it rates are not expected to be downgraded as a result of the combined effects of Hurricanes Irma and Harvey. However, Fitch said …

Parties Compromise to End Monkey Business Over Selfie Copyright

Monkey see. Monkey sue. Monkey settle. Attorneys representing a macaque monkey have agreed to a compromise in a case where they asserted the animal owned the copyright to selfie photos it had shot with a photographer’s camera. Under the deal, …

Specialty MGAs Continue to be Popular Acquisition Targets

With growth prospects becoming rarer in the continuing competitive insurance market, carriers are among three sets of buyers fueling a hot M&A environment for specialized managing general agencies, representatives of GC Securities said Sunday. In a blog item on Guy …

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