INSURANCE NEWS
Ford Recalls More Than 1 Million Vehicles in the US, NHTSA Says
Ford Motor is recalling 1,075,299 vehicles in the United States over an issue that may prevent the rearview camera from displaying images increasing the risk of a crash, the National Highway Traffic Safety Administration said on Wednesday. The recall affects …
People Moves: AXIS Restructures Global Markets Team; Chaucer Taps Ray From Fidelis as Head of Renewable Energy and Energy Transition
This edition of International People Moves details appointments at AXIS Capital Holdings and Chaucer Group. A summary of these executive moves follows here. AXIS Restructures Global Markets Team AXIS Capital Holdings Ltd., the Bermuda-based re/insurer, announced organizational changes to further …
EU Almost on Track to Reach 2030 Climate Goal
The European Union is nearly on track to reach its main climate target for this decade, with countries’ existing CO2-cutting plans set to bring the bloc within one percentage point of the goal, the European Commission said on Wednesday. The …
German Court Throws Out Peruvian Farmer’s Climate Case Against RWE
A German court on Wednesday threw out a Peruvian farmer’s lawsuit seeking damages from RWE for the German energy utility’s alleged role in putting his home at risk through climate change. The court said no appeal was possible in the …
Dutch Insurer Scraps Old-Style Chat Bots Amid Uneven AI Rollout
NN Group NV is replacing pre-programmed chat bots in client-facing roles with a version that can interact more naturally with humans, further evidence of the continued but uneven roll-out of artificial intelligence in financial services. The insurance firm, one of …
Definity Financial to Buy Travelers Cos.’ Canadian Operations for $2.4 Billion
Travelers Cos. said on Tuesday it has agreed to sell its Canadian personal insurance business and majority of its commercial insurance operations in the country to Definity Financial in a deal valued at $2.4 billion. The transaction adds to a …
Cyberattack Surge Creates Opportunity for Insurers, Prompts Rethink on Premiums
A recent surge in high-profile cyberattacks is offering an opportunity for insurers including Munich Re AG and Chubb Ltd. to cash in from a rapidly expanding market — and prompting a rethink on premiums. As artificial intelligence makes attacks more …
Tokio Marine Launches Green Unit, Eyes $1 Billion Revenues by 2030
Japanese insurer Tokio Marine has set up a unit to insure activities linked to the low-carbon transition such as green hydrogen, shipping and cement and is targeting $1 billion in revenues by the end of the decade, its chair told …
Skyla Insurance Acquires Policyline, Names Ricks President
Charlotte-based Skyla Insurance Services, a subsidiary of Skyla Credit Union, has acquired Policyline Insurance, an employee benefits and insurance brokerage in the Carolinas. The acquisition strengthens Skyla’s ability to provide Skyla Credit Union’s corporate accounts and sponsor companies with customized …
As Schools Prepare to Pay Athletes, What Role Will Insurance Play?
As colleges and universities prepare to legally pay athletes for the first time in National Collegiate Athletic Association history, collegiate sports programs are exploring insurance policies designed to mitigate the risks that come with dishing out tens of millions of …
Alabama Study Shows Fortified Homes Paying Off for Insurers, Homeowners
A new Alabama study of hurricane-affected homes sends a clear message to insurers and homeowners nationwide: climate-resilient construction methods can protect homes, and save a lot of money. The first-of-its-kind analysis, released this week, reviews thousands of insurance claims linked …
Immigration Crackdown Unnerves Once-Protected Cuban Exiles in Florida
Immigration officials said Tomás Hernández worked in high-level posts for Cuba’s foreign intelligence agency for decades before migrating to the United States to pursue the American dream. The 71-year-old was detained by federal agents outside his Miami-area home in March …