National News

Arch Insurance Names Shulman CEO for North America; Other Leadership Changes

Arch Insurance announced that Matt Shulman will assume the newly created role of CEO, Arch Insurance North America, effective January 1, 2019. In this role, he will lead Arch Insurance’s operations in the United States and Canada. He will report …

Everest Appoints McKeon to Lead Both Risk Management, Commercial Casualty

Everest Insurance said that Christopher McKeon, currently vice president and head of Commercial Casualty, will add leadership responsibility for the Risk Management business unit, which focuses on customized primary casualty large accounts. Risk Management and Commercial Casualty will continue to …

Google ‘Definitely’ Interested in Other Insurtech Investments Following Applied Systems

Google is eager to invest in other insurance technology companies well beyond its newly announced minority stake in Applied Systems, a principal investor with the global search engine giant said on Oct. 17. “We really like the market,” said Jesse …

Time to Upgrade Airline Black Boxes, Says Safety Board

The ubiquitous black boxes on airliners — designed to capture the sometimes gruesome words and sounds leading up to crashes — need an upgrade, U.S. accident investigators say. In too many cases, the current two hours of sound on the …

The Changing Risk and Liability Landscape: New Tech, New Loss Scenarios

Advancements in technology are changing the risk landscape irrevocably and driving potential big changes in liability, and other insurance, claims activity. The opportunities for business from new technologies such as autonomous machines, artificial intelligenceI, smart factories and digitalized supply chains …

AIG Estimates Q3 Catastrophe Losses Will Be $1.5 Billion

American International Group said it expects to report third quarter 2018 catastrophe losses of approximately $1.5 to $1.7 billion. These losses are largely from multiple events in Japan, including Typhoons Jebi and Trami, as well as Hurricane Florence and revisions …

15 Emerging Risks from Policies to Playgrounds, Sandboxes to Scooters

When insurance experts are asked what they see as the most important emerging risk for the property/casualty insurance industry, their consensus is cyber in some form. While cyber obviously poses tremendous risks, some experts are also eyeing a variety of …

Tired Employees Common in Industries Using Shift Work

More than two-thirds (69 percent) of employees are tired at work, increasing the risk of injuries and incidents on the job, according to the National Safety Council. Many of these fatigued employees work in the construction, transportation, manufacturing and utilities …

Applied Systems Acquires Benefits Software Firm Dynamis

Fresh off its announcement of Google becoming a minority investor, insurance agency technology provider Applied Systems announced it has acquired Dynamis Software Corp., a Milwaukee-based provider of employee benefits software. This acquisition expands Applied System’s employee benefits offerings. The firm …

Travelers Q3 Profit More than Doubles on Lower Catastrophe Losses, Higher Premiums

Third quarter profit more than doubled at Travelers Corp. due to higher premiums and investment income and lower catastrophe losses, the insurer reported. Net income came in at $709 million, up from $293 million for the third quarter last year. …

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