The economic viability of the insurance industry’s current business model has been in question for several years. McKinsey’s 2022 Global Insurance Report shows that 52% of the industry’s global equity had a return on equity (ROE) lower than their cost …
Most members surveyed by the American Chamber of Commerce in Taiwan said they had not been significantly affected by recent Chinese military drills around the island, but had heightened concerns, the group said on Friday. China, which claims Taiwan as …
A Shanghai court on Friday sentenced Chinese-Canadian billionaire Xiao Jianhua, not seen in public since 2017, to 13 years in jail and fined his Tomorrow Holdings conglomerate 55.03 billion yuan ($8.1 billion), a record in China. Xiao and Tomorrow Holdings …
WELLINGTON, New Zealand (AP) – Heavy rain continued to pelt New Zealand on Thursday, causing further disruptions and road closures from a storm that has already forced hundreds of people to evacuate their homes. Residents in the northern part of …
Insured losses for the European windstorm series, which affected the British Isles and continental Europe in February 2022, are estimated at €3.739 billion (US$3.8 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The windstorm …
A Virginia volunteer firefighter charged with setting fire to an abandoned building was with the first crew to arrive on the scene, an investigator said Monday. Firefighters from several departments responded to a report of a structure fire Friday night …
Allstate announced August 18 that Glenn Shapiro, president, Property-Liability, has decided to retire at the end of September. He joined Allstate as chief claims officer in 2016 and has held his current position since 2018. Current chief financial officer Mario …
Florida’s primary energy provider is ready to launch a powerful new technology, just ahead of the busiest weeks of the Atlantic hurricane season: a new fixed-wing drone designed fly into tropical storm force winds and speed the restoration of electricity …
The parents of an 8-year-old boy with Down syndrome who died after falling while strapped to a chair in class five years ago have reached an $18 million settlement in their wrongful death lawsuit against a Southern California school district, …
Unlicensed contractors, all without proper workers’ compensation insurance on their workers, have been charged in another law enforcement sting operation in Florida, authorities said. The state’s chief financial officer and the Pasco County Sheriff’s office announced Thursday that 13 people …