insurance

Business group pushes for U.S. flood insurance reform as December deadline looms

1 month ago DieselGasoil Comments Off on Business group pushes for U.S. flood insurance reform as December deadline looms
WASHINGTON (Reuters) – The latest attempt to overhaul the U.S. federal flood insurance program hit a stumbling block, but a coalition of business and environmental groups renewed their push on Wednesday for lawmakers to enact an overhaul before the program expires on Dec. 8. FILE PHOTO: Houses are seen submerged in flood waters caused by Read More

Sexual harassment scandals likely to boost US insurance liability industry

1 month ago DieselGasoil Comments Off on Sexual harassment scandals likely to boost US insurance liability industry
Published time: 31 Oct, 2017 13:51 US corporations are spending up to two billion dollars a year to protect themselves against possible sexual harassment lawsuits from their employees. That sum is likely to rise in light of the current scandal gripping Hollywood. Berkshire Hathaway Specialty Insurance, controlled by a billionaire investor Warren Buffett, has an Read More

California Dept of Insurance estimates wildfires losses at $1.05 billion

2 months ago DieselGasoil Comments Off on California Dept of Insurance estimates wildfires losses at $1.05 billion
(Reuters) – California Department of Insurance on Thursday said preliminary insurance data estimated the California wildfires losses at $1.05 billion, adding that the numbers are expected to rise. California’s Insurance Commissioner Dave Jones said there were 601 claims for commercial property losses, 4,177 claims for partial residential losses and 3,000 claims for auto losses. Reporting Read More

Bar Harbor Bankshares sells insurance subsidiary

2 months ago DieselGasoil Comments Off on Bar Harbor Bankshares sells insurance subsidiary
Oct 11 (Reuters) – Bar Harbor Bankshares * Bar harbor bankshares sells insurance subsidiary * Bar harbor bankshares – ‍definitive agreement to sell their insurance subsidiary, mccrillis & eldredge insurance, to cross insurance​ Source text for Eikon: Further company coverage: Read More

Skip the health insurance tax question? Not so fast

2 months ago DieselGasoil Comments Off on Skip the health insurance tax question? Not so fast
NEW YORK (Reuters) – With the fate of the Affordable Care Act up in the air after President Donald Trump took office in January, some taxpayers skipped a question on their 2016 returns that asked them to certify whether they had health insurance. Now, individuals who did may be facing a tax bill that could Read More

CORRECTED-UPDATE 1-Spanish crisis sends debt insurance costs surging across southern Europe

2 months ago DieselGasoil Comments Off on CORRECTED-UPDATE 1-Spanish crisis sends debt insurance costs surging across southern Europe
LONDON (Reuters) – Spain’s deepening political crisis drove up the cost of insuring exposure to Spanish sovereign and bank debt to multi-month highs on Wednesday and rippled out to Italian and Portuguese credit default swap (CDS) markets. The leader of Catalonia, the region which held an independence referendum on Sunday, has pledged to declare independence Read More

UPDATE 1-Spanish crisis sends debt insurance costs surging across southern Europe

2 months ago DieselGasoil Comments Off on UPDATE 1-Spanish crisis sends debt insurance costs surging across southern Europe
(Adds context, bonds, quotes) By Claire Milhench and Helen Reid LONDON, Oct 4 (Reuters) – Spain’s deepening political crisis drove up the cost of insuring exposure to Spanish sovereign and bank debt to multi-month highs on Wednesday and rippled out to Italian and Portuguese credit default swap (CDS) markets. The leader of Catalonia, the region Read More

MOVES-Chubb names new management for global life, general insurance ops

2 months ago DieselGasoil Comments Off on MOVES-Chubb names new management for global life, general insurance ops
Oct 3 (Reuters) – Property and casualty insurer Chubb Ltd on Tuesday appointed Cunqiang Li as chief operating officer of Chubb Life, the company’s international life insurance division. Chris Martin has been appointed COO of the company’s combined insurance business, while Jeff Hager has been named COO of the Pacific region, Chubb said. Li is Read More

Consumer lending, insurance issues to weigh on Wells' CEO's Senate appearance on Tuesday

2 months ago DieselGasoil Comments Off on Consumer lending, insurance issues to weigh on Wells' CEO's Senate appearance on Tuesday
(Reuters) – Wells Fargo & Co (WFC.N) CEO Tim Sloan will be questioned about sales practices, mischarging customers for auto insurance, and complaints about mortgage fees at the bank’s consumer lending unit when he testifies before U.S. senators on Tuesday. The U.S.’s third-largest bank has yet to shake off a year-long sales practices scandal that Read More

Chubb provides net insurance and net reinsurance loss estimates for Hurricane Maria & Mexican earthquakes

2 months ago DieselGasoil Comments Off on Chubb provides net insurance and net reinsurance loss estimates for Hurricane Maria & Mexican earthquakes
Oct 2 (Reuters) – Chubb Ltd * Chubb estimates maximum net insurance and net reinsurance losses for Hurricane Maria of $220 million pre-tax, or approximately $200 million after tax; net loss estimate for Mexican earthquakes is $25 million pre-tax, or approximately $24 million after tax * Chubb – ‍natural catastrophe net insured losses in q3, Read More