Gig economy companies want to turn California voters’ decision to make ride-service drivers contractors into a model for the nation, as several states consider requiring drivers from Uber, Lyft and rival services be treated as employees with higher compensation. Voters …
Insurer American International Group Inc said on Friday it is considering an initial public offering or a private sale of nearly 20% of its life and retirement business to separate the unit from the rest of the company over the …
Liberty Mutual Holding Co. Inc. has reported a 46% increase in net income during the third quarter, despite elevated catastrophe losses. The company reported Q3 net income of $397 million, compared with $272 million during the same period last year. …
American International Group Inc reported a slump in third-quarter profit on Thursday, hurt by losses related to storms, wildfires and the COVID-19 pandemic. AIG, one of the largest U.S. insurers, posted an underwriting loss of $423 million in its general …
Apple Inc has been ordered to face a proposed class-action lawsuit by shareholders who accused Chief Executive Tim Cook of concealing falling demand for iPhones in China, resulting in billions of dollars of investor losses. In a decision on Wednesday, …
Global commercial insurance pricing rocketed 20 percent higher on average in the 2020 third quarter, driven largely by rate hikes in three key lines, according to a new Marsh market update. Marsh said the jump was the largest since launching …
Local governments are increasingly taking it upon themselves to address climate change. Denver voters on election day passed Measure 2A, which would raise city sales tax by 0.25% starting in January with the goal of reducing the city’s climate footprint, …
Cincinnati Financial Corp.’s London-based global specialty underwriting subsidiary, Cincinnati Global Underwriting Ltd., will begin writing two new lines of business: contingency and specie. Contingency insurance covers film and entertainment risks, such as: insuring film and TV production for their props, …
Tesla recently made headlines with the beta launch of its Full Self-Driving system. That system comes with a disclaimer saying, “It may do the wrong thing at the worst time, so you must always keep your hands on the wheel …
The U.S. property/casualty industry saw 13 new insurance company impairments in 2019, two more than in 2018, involving entities operating in a mix of lines of business and a variety of states, according to a new AM Best special report. …
