P&C Companies News

Ireland’s FBD: Solvency Rule Program on Track as CEO Quits Unexpectedly

FBD Holdings plc said its plans to meet new solvency rules next year are on track as the Irish insurer struggles to return to profit and Andrew Langford unexpectedly quit as chief executive officer last week. Dublin-based FBD said it’s “no different” …

Zurich Insurance’s Investors Grow Impatient with CEO Senn’s Strategy

Martin Senn, Zurich Insurance Group AG’s chief executive officer, is considering a bid for RSA Insurance Group plc, one of the U.K.’s biggest insurers, after a cost-cutting program failed to revive returns for shareholders. Investors including GAM Holding AG are cautious about …

San Andreas Movie: Facts Within Fiction

Released in late spring 2015, the movie San Andreas tells the story of massive earthquakes devastating California as a helicopter pilot and his (formerly estranged) wife try to find and rescue their daughter. Having defeated the likes of genetically engineered …

Crowdsourcing Pollutant Detection: A Look at the Promise & Perils of Citizen Science

Far from being a new idea of the 21st century, scientific research conducted by amateur or non-professional scientists has a long and distinguished history. (Think Benjamin Franklin or Charles Darwin, for example.) What is new, however, is the wide array …

U.S. Power Grid Attack Could Cause $70 Billion in Insurance Losses: Lloyd’s Report

A cyber attack on the U.S. power grid in the Northeast would have far-reaching implications including the loss of lives, economic losses of as much as a trillion dollars, the disruption of water supplies and transportation, and potentially more than …

Commercial Insurance Prices Remain Static for Fourth Month: MarketScout

Commercial insurance rates have barely budged at all over the last four months, according to the MarketScout report for June. Only the business interruption line saw rates go down in June from the previous month and those were only down …

Analysis of Chubb’s Future Position in P/C Product Lines

Just a little over six months ago, ACE announced a deal to acquire the high-net-worth personal lines business of Fireman’s Fund from Allianz, competing against Chubb, which holds the leading position in the space. The announcement that ACE will buy …

ACE to Acquire Chubb in $28.3 Billion Deal

In a major transaction, ACE Limited has agreed to acquire The Chubb Corp. for $28.3 billion in cash and stock. The balance sheet’s size and strength will elevate the combined company into the elite group of global P/C insurers. As …

Expanding Your Sales Portfolio? Give LTCI a Second Look

If you don’t offer your clients long term care insurance (LTCI), you may be missing out. This rapidly-evolving product is more attractive than ever. LTCI is more versatile than you may remember, thanks to recent product development innovations. The need …

New Regulatory Guidance Affects Insurers, Producers

Producers, brokers and insurers are all targeted by cyber attackers looking for personal identifiable information (PII) that can be used to open fraudulent credit cards. To protect PII, in April the Cybersecurity (EX) Task Force of the National Association of …