The Travelers Companies,Inc. has promoted Alan Schnitzer to vice chairman and chief executive officer of Business and International Insurance and promoted Doreen Spadorcia to vice chairman and chief executive officer of Personal Insurance and Bond & Financial Products, effective July …
Commercial insurance prices increased by 4 percent in aggregate during the first quarter of 2014, marking the lowest level of growth since fourth-quarter 2011, according to a new survey by Towers Watson. The increase is a full percentage point lower …
General Motors Co.’s lawyers have said the carmaker will face punitive damages over ignition switch defects if its customers go to trial, creating an urgent need to settle lawsuits. The automaker, which has said it wants to help accident victims, …
The U.S. Supreme Court on Monday declined to hear a series of appeals filed mainly by R.J. Reynolds Tobacco Co. seeking to overturn Florida court rulings worth more than $70 million in favor of customers who sued over injuries associated …
Willis Group Holdings announced that it has reinforced its position as a risk adviser and insurance broker for the technology, media and telecommunications (TMT) sector with the appointment of new regional leaders for North America and Europe. Willis named Tom …
A thunderstorm that swept through large parts of Germany on Monday night left as many as six people dead and 30 seriously injured as a holiday marking the feast of the Pentecost ended in tragedy. A 28-year-old cyclist from the …
The Association of British Insurers has commented on the measures introduced by Justice Secretary Chris Grayling, announcing “a major crackdown on insurance fraudsters and dishonest claims as part of new measures to benefit honest motorists.” The ABI said the “new …
Bermuda-based Aspen Insurance Holdings Limited has confirmed that Endurance Specialty Holdings Ltd. has commenced an unsolicited exchange offer to acquire all outstanding shares of Aspen for a combination of common stock and cash. The bulletin noted that “On June 2, …
Willis Group Holdings announced that in “response to growing demand from property investors for insurance cover that is compliant with Islamic law it has launched the UK’s first Shariah compliant commercial real estate insurance.” Willis said the coverage “offers real …
Learning how to manage increasingly complex and evolving risks is essential if property/casualty insurers are to serve the needs of their customers in a changing world. According to analysts and industry executives at Standard & Poor’s Ratings Services’ Insurance 2014: …
