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Workers compensation insurer rate cuts may follow profitable 2014

By: Sheena Harrison

Published November 23, 2014 - 6:00am CST

Workers compensation insurers could see their first year of underwriting profitability in nearly a decade due to rate increases, an improving economy, and a focus on data analytics that has helped improve underwriting and workplace safety.

Insurers prepare to comply with tax rules for offshore accounts

By: Matthew Lerner

Published November 23, 2014 - 6:00am CST

Even as the insurance industry moves to meet the first reporting deadlines under the Foreign Account Tax Compliance Act, the law and compliance remain works in progress.

Insurance industry PACs back Republican winners in congressional races

By: Mark A. Hofmann

Published November 23, 2014 - 6:00am CST

Property/casualty insurance industry political action committees did well in the midterm elections, and officials say member input was crucial to their success.

PERSPECTIVES: Drone regulation would create need for liability insurance

By: Jonathan S. Ziss

Published November 23, 2014 - 6:00am CST

Civilian use of unmanned aerial systems, or drones, is transforming certain industries but current aviation regulations don't effectively address the technology, says Jonathan S. Ziss of law firm Goldberg Segalla L.L.P. Once regulations are in place, a liability framework should emerge that will lead to an increased need for insurance.

China Re gets Lloyd's OK for change to stand-alone syndicate in 2015

By: Mark A. Hofmann

Published November 21, 2014 - 10:31am CST

China Reinsurance (Group) Corp. has received approval from Lloyd’s of London to transform its existing special purpose syndicate into a stand-alone syndicate.

Insurers see rates falling up to 15% as competition bites

Published November 20, 2014 - 12:27pm CST

(Reuters) — Competition in the global insurance market is driving commercial rates down by as much as 15%, according to senior industry participants as some look to new revenue boosting products.

Russian firms face huge insurance costs as foreign providers flee

Published November 20, 2014 - 9:15am CST

(Reuters) — Russian companies face billions of dollars in extra insurance costs as Western sanctions prompt foreign insurance firms to start pulling out, based on business risk worries.

Talbot Underwriting opens Sydney office

By: Matthew Lerner

Published November 19, 2014 - 1:27pm CST

Talbot Underwriting Ltd., a wholly owned subsidiary of Validus Holdings Ltd., is opening an office in Sydney, the company said Wednesday.

Insurance commissioners group's task force to target cyber security

By: Mark A. Hofmann

Published November 19, 2014 - 12:25pm CST

WASHINGTON — The National Association of Insurance Commissioners has created a task force to help coordinate insurance issues related to cybersecurity, the NAIC recently announced.

National Association of Insurance Commissioners elects 2015 officers

By: Mark A. Hofmann

Published November 19, 2014 - 12:16pm CST

WASHINGTON — Montana State Auditor and Commissioner of Securities and Insurance Monica J. Lindeen has been elected 2015 president of the National Association of Insurance Commissioners.

E.U. insurance watchdog warns on 'undue' investment incentives

Published November 19, 2014 - 11:55am CST

(Reuters) — The E.U.'s top insurance watchdog has warned against giving insurers strong enticements to invest in particular asset classes, saying this would run counter to prudent supervision.

Insurer Generali to hit 2015 targets a year early

Published November 19, 2014 - 11:43am CST

(Reuters) — Italy's Assicurazioni Generali S.p.A. expects to hit its 2015 targets a year ahead of schedule and raise its dividend payout after cutting costs and selling assets to focus on its main property/casualty and life insurance businesses in Europe.

Renewal rates down 3.5% in first nine months of 2014: Amlin

By: Sarah Veysey

Published November 19, 2014 - 9:17am CST

Average insurance and reinsurance renewal rates fell by 3.5% for the first nine months of 2014, Amlin P.L.C. said Wednesday.

Huw Evans named director general of Association of British Insurers

By: Sarah Veysey

Published November 18, 2014 - 10:10am CST

Huw Evans will succeed Otto Thoresen as director general of the Association of British Insurers in February, the London-based ABI announced Tuesday.

Hamilton Insurance acquiring Lloyd's sports and leisure underwriter and broker

By: Sarah Veysey

Published November 18, 2014 - 10:09am CST

Hamilton Insurance Group Ltd. on Tuesday said it will acquire Sportscover Underwriting Ltd., a Lloyd's of London managing agency, and Kinetic Insurance Brokers Ltd., a Lloyd's broker, from Wild Goose Holdings Pty. Ltd.

Gallagher expands its directors and officers coverage

By: Shelby Livingston

Published November 14, 2014 - 2:48pm CST

Arthur J. Gallagher, an international division of broker Arthur J. Gallagher & Co., has launched two new insurance policies expanding the coverage of the firm's traditional directors and officers coverage, AJG Absolute.

Hub sells its only Latin American benefits and commercial lines broker

By: Stephanie Goldberg

Published November 14, 2014 - 10:59am CST

Hub International Ltd. has sold Harmonia Corretora de Seguros Ltda., the São Paulo, Brazil-based insurance brokerage it acquired in 2011, to Howden Insurance Brokers Ltd., London-based Howden said Friday.

GALLERY: West Region 40 Under 40 Broker Awards

Published November 13, 2014 - 1:15pm CST

View photos from Business Insurance's 2014 40 Under 40 Broker Awards reception recognizing this year's West region honorees.

Directors and officers liability second-quarter premiums down 4.4% over 2013

By: Judy Greenwald

Published November 13, 2014 - 10:55am CST

With decreases in excess layers continuing to drive down overall rates, companies' directors and officers liability insurance premiums for this year's second quarter decreased 4.4% vs. the same period a year ago, Aon Risk Solutions said in its latest D&O index report.

Hiscox adds cyber deception cover to crime insurance program

By: Shelby Livingston

Published November 13, 2014 - 10:15am CST

Hiscox Ltd. has added cyber deception coverage to its crime insurance program to help protect against losses incurred by employees tricked into transferring company funds, the insurer said.

Group health plan costs up 4.4% in 2014; Aon Hewitt predicts bigger 2015 rise

By: Jerry Geisel

Published November 13, 2014 - 8:43am CST

Group health care plan costs increased on average by a relatively modest 4.4% in 2014, but bigger increases likely lay ahead, according to new research released by Aon Hewitt.

GALLERY: Northeast Region 40 Under 40 Broker Awards

Published November 11, 2014 - 3:15pm CST

View photos from Business Insurance's 2014 40 Under 40 Broker Awards reception recognizing this year's Northeast region honorees.

Aon tool sorts construction risk profiles for variety of jurisdictions

By: Shelby Livingston

Published November 11, 2014 - 1:11pm CST

The construction services group at Aon Risk Solutions has launched a web-based tool to help clients manage the risks posed by working in multiple locations.

Personal lines rates up in October: MarketScout

Published November 11, 2014 - 9:43am CST

Personal lines rates continued to rise during October, rising an average 3%, according to a survey released last week by Dallas-based electronic insurance exchange MarketScout.

EEOC subpoena of Royal Caribbean in bias claim ruled overly broad

By: Judy Greenwald

Published November 10, 2014 - 2:39pm CST

A subpoena from the U.S. Equal Employment Opportunity Commission for information related to a discrimination claim filed against Royal Caribbean Cruises Ltd. is overly broad and burdensome, an appellate court said in upholding a lower court ruling denying the agency's application for the subpoena's enforcement.

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