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Insurance
AM Best is revising its outlook on the commercial lines segment of the US property/casualty industry to stable from negative for 2018, citing an embedded change in the sophistication of the segment’s pricing and underwriting infrastructure and the segment’s resilience amid a variety of macroeconomic and insurance market issues in recent years. 4 January 2018
Insurance
Pioneer Underwriters has hired a financial lines underwriter from Chubb to boost its financial institutions unit. 4 January 2018
Insurance
The re/insurance industry will bear record catastrophe losses of $135 billion in 2017 following hurricanes Harvey, Irma and Maria as well as a severe earthquake in Mexico, according to Munich Re’s calculations. 4 January 2018
Insurance
Maidstone Insurance Company, a New York-domiciled, personal lines insurer with 23 state licenses, has been acquired by Special Diversified Opportunities, a publically traded diversified holding company that acquires companies in various industries. 4 January 2018
Insurance
Travelers Europe has launched a new product it says will provide improved protection against the unique cyber risks facing IT, communications and electronics manufacturing and assembly companies in the UK and Ireland. 4 January 2018
Insurance
Arc Legal Assistance has launched a personal cyber support policy providing household insurance customers with access to expert support, restoration services and cover for cyber-attacks. 4 January 2018
Insurance
The insurance industry in the US will see overall benefits from the reduced corporate tax rate as a result of The Tax Cuts and Jobs Act, once it is signed into law; however, partially offsetting the benefits are certain revenue enhancements that will impact life and property/casualty (P/C) companies. 22 December 2017
Insurance
SmarterSafer, a national coalition of environmental groups and insurance interests, has urged US lawmakers to find a long term and sustainable solution for the National Flood Insurance Program (NFIP) rather than allowing short-term extensions. 22 December 2017
Insurance
Zurich Insurance Group has acquired Hong Kong-based telematics business Bright Box and its subsidiaries. The insurer said it wants to increase its capabilities in connected car technologies and mobility. 22 December 2017
Insurance
Property/casualty insurer Travelers Europe has appointed Nick Rnjak to lead Travelers Syndicate Management, its wholly-owned platform in the Lloyd’s insurance market. 22 December 2017
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