Category: National News
Apr 29, 2024
By Michael Billmeier, Partner On April 23, 2024, the Federal Trade Commission adopted a Final Rule banning employers from imposing non-compete clauses on their employees. The restrictions will be effective 120 days after the Rule’s publication in the Federal Register. …
Jun 28, 2018
The global reinsurance industry demonstrated resiliency following the record level of catastrophe losses in 2017, as very strong capitalization and effective risk management enabled the sector to absorb the multiple hits from Mother Nature and broadly maintain financial strength. Favorable …
Jun 25, 2018
The American Insurance Association and the Property Casualty Insurers Association of America are in talks to merge their organizations into one trade association. The boards of the Washington-based AIA and Chicago-based PCI “believe there is great benefit in a more …
Jun 15, 2018
Ride-sharing passengers will be able to buy accident and death coverage in smartphone app. Chubb Ltd. has teamed with a technology startup to sell insurance to passengers of ride-hailing services like Uber Technologies Inc. to cover medical and other costs …
Jun 15, 2018
The Federal Reserve hikes interest rates by a quarter-point and signals two additional hikes this year and three in 2019. Winner: The insurance industry. After many years of a near-zero Federal Funds Rate, the lid is off and insurers will …
Jun 13, 2018
The federal government, seeking to protect itself from the growing cost of natural disasters, is borrowing a technique from the private sector and buying reinsurance. The Federal Emergency Management Agency, which started purchasing reinsurance last year for the National Flood …
Jun 13, 2018
Although the insurance industry may have had plenty of time to wrap its mind around managing physical property threats, what about the newly growing area of non-physical threats? Panelists at the 2018 PLUS Cyber Symposium, held in May in Chicago, …
Jun 13, 2018
U.S. commercial insurance prices increased modestly in the first quarter, according to a Willis Towers Watson P.L.C. report released on Monday. The broker’s Commercial Lines Insurance Pricing Survey compared prices charged on policies written during the first quarter of 2018 …
Jun 12, 2018
Many insurers and reinsurers are facing some earnings volatility in 2018 due to a change in accounting requirements for equity securities, Fitch Ratings said in new market commentary. According to Fitch, companies with significant equity investments are particularly affected in …
Jun 12, 2018
More than half of drivers killed in car accidents who were tested for drugs had marijuana, opioids or a combination of the two in their system, according to a new report. The Governors Highway Safety Association (GHSA) report found that …