National News

Why Businesses Need to Plan for Aging Workforce

The demographic trend is no secret: the populations of the United States and other major industrial countries are getting older, and fast. That means workforces are aging too, but employers are doing surprisingly little to prepare to meet the challenges …

Railroads, Airlines Seek to Bypass States’ Paid Sick Leave Laws

Fed up with state and local laws that require private employers to offer paid sick days, the airlines and railroads have filed suit, claiming that the interstate nature of their businesses should make them exempt. Airlines for America, a trade …

Guggenheim Exploring Deal with Munich Re’s Asset Management Unit

Guggenheim Partners is exploring the sale of a stake in its $250 billion asset-management unit overseen by Scott Minerd, according to people familiar with the matter. Guggenheim Partners Investment Management has been in talks with global insurers, sovereign wealth funds …

Lewis Succeeds West as Leader of Chubb’s Mid-Market Commercial Lines; Rockwell Named Chief Underwriter

Chubb has appointed Paul Lewis North America Commercial Insurance Industry practice leader for its North American mid-market segment. He will be responsible for leading Chubb’s Commercial Insurance Industry practices in the United States and Canada, and will have oversight of …

Harvard’s Gawande Chosen to Lead Berkshire-Amazon-JPMorgan Health Initiative

Atul Gawande, a surgeon and journalist who has written extensively about the U.S. failure to grapple with rising healthcare spending, has been named to head a new health venture for Amazon.com Inc., Berkshire Hathaway Inc. and JPMorgan Chase & Co. …

PAK Programs Launches Insurance for Meaderies

PAK Programs, specialty insurer of alcoholic beverage manufacturers and distributors, has introduced a program designed for mead producers, Meadery PAK. The program is underwritten by Great American Insurance Group. Larry Chasin, president of PAK Programs, said meaderies, which are part …

Two P/C Insurance Trade Groups — AIA and PCI— Plan to Merge

Two leading U.S. property/casualty insurance carrier trade groups are talking about merging. The American Insurance Association (AIA) and the Property Casualty Insurers Association of America (PCI) said their respective boards have approved moving ahead with merger talks and due diligence, …

Catastrophes Pushed Homeowners Insurers’ Combined Ratio Above 107 in 2017

After four years of sub-100 combined ratios for the U.S. homeowners insurers, the segment saw its combined ratio deteriorate to 107.1 in 2017 as a result of numerous catastrophes, according to an A.M. Best report. The new Best’s Market Segment …

Small Businesses That Ignore Lessons from Cyber Attack Likely to Suffer Another: Hiscox

While 47 percent of small businesses suffered at least one cyber attack in the past year, only 35 percent of them took action following a cyber security incident to mitigate against another. Forty-four percent of small businesses that reported a …

Correction: Safety Agency Orders Firm to Stop Selling Tesla Warning Reduction Feature

Correction: An earlier headline on this article incorrectly identified the product as Tesla’s. It is not; it is made by an aftermarket firm. Tesla supports the move to end sales of the product. Insurance Journal regrets the error. The Autopilot …

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