P&C Companies News

Self-Driving Cars to Create Long Term Challenges for Auto Insurers: Moody’s

Accident avoidance features in vehicles, such as automatic braking, adaptive cruise control, and lane departure prevention, are becoming more prevalent and will lead to lower accident frequency in the next five-to-10 years, a benefit for auto insurers. Longer term, self-driving …

Federal Judge Rules BP Absolved from U.S. Lawsuits Over Drilling Ban

BP Plc does not have to face U.S. lawsuits by energy and drilling companies over losses they suffered from an offshore drilling ban imposed soon after the 2010 Gulf of Mexico oil spill, a federal judge ruled. U.S. District Judge …

‘Smart City’ Pilot Project to Test Tools Aimed at Reducing Accidents

The U.S. Transportation Department and NXP Semiconductors NV are joining forces in a pilot project to use communication technology to reduce congestion and speed traffic, they said on Friday. The department said in December that it would award up to …

A.M. Best Downgrades Ratings of China’s Hyundai Insurance After Tianjin Blast

A.M. Best has downgraded the financial strength rating to B++ (Good) from A- (Excellent) and the issuer credit rating to “bbb” from “a-” of Hyundai Insurance (China) Co. Ltd., or HIC. Following these actions, the ratings remain under review with negative implications. …

2,000 Agents Can’t be Wrong: They’re About to Tell Us What They Want from Carriers

Channel Harvest Research, in partnership with Insurance Journal, recently launched its 2016 national survey of independent agents’ attitudes about their carrier partners. This is the ninth annual study on key elements of the property/casualty agent-carrier relationship. Agents and brokers have …

AXA to Buy Liberty Ubezpieczenia, Polish P&C Operations of Liberty Mutual

AXA announced it will acquire Liberty Ubezpieczenia, the Polish property & casualty operations of Liberty Mutual Insurance Group for 92.3 million Polish Zloty ($23 million), plus the net asset value outstanding as of the date of closing. Liberty Ubezpieczenia is …

IICF Unites P/C Industry for Record Year of Giving

Charity begins at home… and in the office. The year 2015 was a record-setting one for charitable giving and volunteering by property/casualty insurance professionals in offices across the  insurance industry. Leading the charitable activities for the industry is the Insurance …

IT Workers, Doctors, Dentists Less Likely to Lose Jobs to Robots

Computer scientists, doctors and dentists are the jobs least likely to be taken by robots as automation spreads through advanced economies, according to Bank of England Chief Economist Andy Haldane. Speaking in Parliament this month, Haldane said analysis by staff …

P/C Industry Growing and Aligning Its Charitable Giving

U.S. property/casualty insurers have increased their charitable giving by an average of 15 percent since 2011, to an industry total of $575 million, outpacing inflation and moving closer to what many industry leaders believe the public expects, according to the …

A Look at the Highest Paid U.S. Corporate Director Posts

Outsize pay for chief executive officers has been a bone of contention among shareholder activists for years. What’s less known is that the directors on board-compensation committees — the very people who decide to give out those large CEO salaries, …