The U.S. inland marine insurance segment experienced a “significant downturn in profitability” in 2020, with its loss ratio deteriorating by nearly 16 percentage points amid the COVID-19 pandemic, according to an AM Best report. The Best’s Market Segment Report, “Significant …
North American buyers of commercial property/casualty insurance can expect an “ever-so-slight turn for the better” and a “less difficult marketplace” in the months ahead. However, global broker Willis Towers Watson’s 2021 Insurance Marketplace Realities report adds, buyers will continue to …
Property/casualty insurance software firm Insurity has completed its acquisition of Instec, a cloud software maker for mid-size property/casualty carriers, managing general agencies and specialty insurers. Terms of the acquisition were not disclosed. Insurity said the deal further increases its support …
LONDON – UK Club, an insurer of the Ever Given cargo ship which ran aground in the Suez Canal in March, said on Friday it had filed an appeal in an Egyptian court over the detention of the vessel by …
Two U.S. senators are working to attach legislation to allow automakers to deploy tens of thousands of self-driving vehicles on U.S. roads to a bipartisan China bill, a significant reform that could help speed the commercial use of automated vehicles. …
Kroll Bond Rating Agency (KBRA) has assigned an “AA-” insurance financial strength rating (IFSR) to Lloyd’s with a stable outlook. Newly appointed to provide an additional independent opinion of the market’s financial strength, KBRA joins three other agencies that rate …
Alera Group, a financial services and risk management company, has acquired The Waterford Group, a Rochester, New York-based retirement plan specialist providing consulting and fiduciary services to companies. Following the acquisition, The Waterford Group team will continue serving clients in …
An employee at Electric Boat’s facility in Rhode Island has died from injuries suffered in a workplace accident, the company said. Sean Davies, a vice president for the Connecticut-based submarine builder, told WPRI-TV the incident took place around 8 a.m. …
PARIS – Frost damage to French vineyards this month could reduce wine production by nearly a third compared with recent years, farm office FranceAgriMer said on Thursday, citing initial estimates from wine producers. The losses, subject to revision as the …
An ex-Deloitte LLP partner is facing disciplinary action in the Netherlands for an improper audit of Steinhoff International Holdings NV prior to the South African retailer’s near collapse more than three years ago. The Dutch Authority for the Financial Markets …
