National News

AIG, Hamilton, Two Sigma to Launch Small-Medium Business Insurance Joint Venture

American International Group, Bermuda-based Hamilton Insurance Group and affiliates of hedge fund firm Two Sigma Investments said they have agreed to create a technology-enabled insurance platform for sales to the small to medium-sized enterprise (SME) market. The announcement said the …

Who Wins, Loses In a Driverless Car Economy?

The automotive and tech companies pursuing the driverless car share a utopian belief: Autonomous vehicles will benefit society, eventually saving most of the nearly 33,000 people each year killed in road accidents in America alone. “If the situation was reversed, …

Google, Ridesharing Firms, Automakers Form Lobby Group for Self-Driving Cars

A group of companies including Alphabet Inc.’s Google, Ford Motor Co. and Uber Technologies Inc., are forming a coalition to advocate for safety regulations for self-driving cars and to bring them to American roads. The group, which also includes Volvo …

Assurant to Pick Up Policies as Nationwide Exits Federal Flood Insurance Program

Nationwide will start winding down its status this May as a “Write Your Own” carrier within the federal government’s National Flood Insurance Program. Assurant said it formed an agreement with the insurer to fill the gap. Nationwide said it plans to begin …

Allied World Launches Product Recall Insurance in North America

Allied World Assurance Company Holdings, AG has added product recall insurance products for the U.S. and Canada through its Global Crisis Management Division. The product recall insurance offers both first party and third party coverage and it allows clients to …

2016 Atlantic Hurricane Season Should See Normal Activity of 12 Names Storms: CSU

The coming Atlantic hurricane season should produce a near-average 12 named storms before it ends in November, according to Phil Klotzbach, lead author of the pioneering Colorado State University forecast. At least five of those storms will reach hurricane status, …

Colorado State Hurricane Forecaster Gray Passes Away

He changed the way the world looks at hurricanes, and in later years he challenged the science behind climate change, but most people will probably remember Bill Gray as the creator of the modern seasonal forecast for Atlantic storms. Gray …

Ryan Specialty Launches Marine Unit; AIG’s Pecci and Stahl to Lead

Specialty insurance firm Ryan Specialty Group (RSG) has formed a specialty marine underwriting business and tapped two executives who were formerly with American International Group (AIG) to lead it. The newly-formed specialty marine underwriting manager is named Safe Waters and …

U.S. Issues Zika Safety Guidelines for Outdoor Workers, Business Travelers

U.S. health and safety officials issued new guidelines on Friday to help protect workers from exposure to Zika, a mosquito-borne and sexually-transmitted virus that causes the birth defect microcephaly and other neurological disorders. The new rules, issued by the Centers …

Fallout from Travelers CGL Cyber Ruling: Insurance Buyers and Sellers Beware

Experts are cautioning both insurance buyers and sellers not to overreact to the recent federal court decision finding data breach defense coverage under a commercial general liability (CGL) policy. Experts are cautioning both insurance buyers and sellers not to overreact …

National News Archives by Month