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14
07, 2016
Insurers Expect Lower Returns in Face of Low Interest Rates, Heightened Competition
Approximately three-fourths of insurers surveyed have lowered their target return-on-equity expectations to 10 percent or lower, a reflection of highly competitive market conditions remaining and the slow-growth economy, according to a new A.M. Best survey. According to the A.M. Best …
18
07, 2016
Wells Fargo Beats Appeal Over Voided Money Store Verdict
A federal appeals court on Friday rejected a bid to revive a $54.8 million jury verdict against Wells Fargo & Co, saying the trial judge had authority to take the “drastic step” of decertifying the class action after the award …
14
07, 2016
Climate Change Exposes U.S. Infrastructure to Natural Hazards, Rand Corp. Says
Editor’s note: This is the first of a two-part column. A follow up column will focus on how catastrophe modelers are being asked to create products that take into account potential climate change impacts. A report out this week from …
18
07, 2016
BHSI Launches Commercial Output Policy for Inland Marine Exposures
Berkshire Hathaway Specialty Insurance (BHSI) has introduced its Commercial Output Policy (COP) that combines the company’s new admitted property insurance policy with its inland marine coverages. BHSI’s COP uses American Association of Insurance Services (AAIS) wording and responds to property …
14
07, 2016
Markel Leads Lloyd’s Livestock Consortium, Covering Up to $30M Per Location
Markel International, the London-based specialist insurer, has joined forces with Tokio Marine Kiln, Pembroke and AEGIS London to lead the Markel livestock consortium, offering cover of up to $30 million per location for livestock risks. The consortium offers larger single …
18
07, 2016
Autopilot Warning May Not Help Tesla in Crash Defense
Telling Tesla drivers its Autopilot feature doesn’t mean their cars can drive themselves may not be enough to keep Elon Musk off the hot seat if the technology comes up short. This month, two Teslas equipped with Autopilot veered into …
14
07, 2016
Isn’t It Ironic: Lightning Destroys Lightning RV Supply Warehouse in Florida
The owner of Lightning RV Supply company says he can’t believe the irony after his southwest Florida warehouse was destroyed by lightning. Brad Green says his employees heard three earth-shaking booms during a storm on the night of July 11. …
18
07, 2016
North Carolina Governor Signs Duke Energy Coal Ash Cleanup Compromise
North Carolina will offer less expensive ways for Duke Energy to clean up coal ash pits at seven sites while ensuring drinking water is piped to residents near the ponds, a compromise that has appeased the General Assembly but leaves …
14
07, 2016
MMG Names Herweh to Succeed Lombard as VP Human Resources
Presque Isle, Maine-based regional insurer MMG Insurance Co. has promoted John Herweh to vice president and director of Human Resources. Herweh replaces Lynn Lombard, who retired on July 1, 2016 after a 45-year career with the company. Herweh brings 20 …
18
07, 2016
SBA Sets August Deadline for Mississippi Disaster Loans From Spring Floods
People whose south Mississippi homes or businesses flooded in late April or early May have until Aug. 8 to apply for Small Business Administration disaster loans. The low-interest loans are available in Harrison, Hancock, Jackson, Pearl River and Stone counties, …