National News

Smith Named President of Ironshore Environmental, Replacing O’Brien

Ironshore Inc. announced that Toby Smith has been appointed president of Ironshore Environmental. Smith assumes the role from John O’Brien, who recently left recently the company to pursue new opportunities. Smith will lead the global environmental unit, reporting to Shaun …

Global Regulators’ Rethinking of Risk Assessment Welcomed by Large Insurers

Global regulators are rethinking how to assess risks in big insurance companies, marking a shift that could make life easier for the industry. The Financial Stability Board said on Tuesday it could take a different approach to assessing risk which …

Uber, Transitioning to Fleet Operator, Orders 24,000 Driverless Cars from Volvo

Uber plans to buy up to 24,000 self-driving cars from Volvo, marking the transition of the U.S. firm from an app used to summon a taxi to the owner and operator of a fleet of cars. The non-binding framework deal …

Insurers Can Protect Ratings with Cautious Approach to Cyber Risk: Fitch

The influence of cyber risk on insurer ratings is likely to be neutral or gradual as long as insurers continue take a cautious approach to the business, according to Fitch Ratings. At its recent cyber conference in New York, Fitch …

Insurers Asked to Pay $90 Million to Settle Shareholder Claims Over Fox News Sexual Harassment

Twenty-First Century Fox Inc. has reached a $90 million settlement of shareholder claims arising from the sexual harassment scandal at its Fox News Channel, which cost the jobs of longtime news chief Roger Ailes and anchor Bill O’Reilly. The settlement, …

Conservatives Now Want to Abolish Board They Hoped Would Curtail Patent Suits

In August, a dozen inventors gathered around a fire pit outside the headquarters of the U.S. Patent and Trademark Office in Alexandria, Virginia, and set alight patents they said had been rendered worthless by an overreaching federal government. “It’s time …

Hiscox Launches Coverage Suite for Financial Services Firms

Hiscox has launched a new suite of professional and management liability coverages for financial services firms across the U.S. The new platform, Hiscox FS, is an expansion of Hiscox’s current offering to financial services firms. Hiscox FS provides financial services …

Best Agencies to Work For: Morris & Garritano – Overall Winner

It’s no easy feat to survive as a small business let alone to survive and thrive after 132 years in operation. That’s what Morris & Garritano (M&G) — winner of Insurance Journal’s 2017 Best Agencies to Work For 2017 Overall …

How Lemonade Is Deciding Who Else May Sell Its Insurance

Digital insurer Lemonade reports that more than 400 businesses applied to sell its insurance within the first 24 hours after it offered to make its sales platform widely available. On October 12, Lemonade announced it launched a public API (application …

USAA Among Backers of Home Water Damage Prevention Startup Flo

Flo Technologies has unveiled Flo, an intelligent home water monitoring and conservation system that promises to help reduce water damage insurance claims. The startup has raised a total of $11.5 million from investors led by Crosslink Capital with participation from …

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