Property and casualty insurer Travelers Cos. Inc. reported a jump in quarterly profit that beat analysts’ estimates on Thursday, helped by an increase in returns from investments and lower catastrophe claims. Travelers reported a core income of $1.26 billion, or …
On his last full day in office, President Donald Trump signed an executive order the White House said was aimed at preventing foreign malicious cyber-actors from using U.S. online infrastructure to carry out their activities. The order, which provides the …
Insurance agents and brokers should prepare for a big agency errors and omissions (E&O) litigation wave to crash their shores in 2021. Agency E&O claims are a lagging indicator, meaning plaintiffs typically only go after agents and brokers after they …
Starting an independent insurance agency, or any business, is a risky proposition. You’re moving from a secure position with a regular income and foreseeable future to a place where uncertainty is the new normal. Some may think that’s truer than …
The U.S. Supreme Court on Tuesday rejected Merck & Co. Inc.’s bid to revive a $2.54 billion jury verdict it won against rival drugmaker Gilead Sciences Inc. for infringing a patent in a dispute over a blockbuster hepatitis C treatment. …
International investment management firm TowerBrook Capital Partners and private equity firm Further Global Capital agreed to acquire 100 percent of the common stock shares of specialty insurer ProSight Global for $586 million cash. The deal, announced last Friday, means the …
There were 744 announced insurance agency mergers and acquisitions in 2020, up nearly 20% from 649 reported in 2019. The surge resulted from the pent-up supply of pending transactions from earlier in the year coupled with sellers looking to avoid …
Ford Motor Co. must recall 3 million vehicles with potentially defective driver-side Takata air bags, the U.S. auto safety regulator said on Tuesday, rejecting a bid by the second-largest U.S. automaker to avoid a recall. The National Highway Traffic Safety …
The U.S. Supreme Court on Tuesday grappled with a dispute that one justice called a “close call” over a lawsuit filed by the city of Baltimore against energy companies seeking monetary damages due to the impact of global climate change. …
AM Best announced that it would not change the “A-” financial strength ratings of the members of Dallas-based specialty insurer Hallmark Insurance Group nor the “bbb-” long-term issue credit rating of Hallmark Financial Services, after Hallmark Financial announced its chief …
