Archive for February 2016

American International Group Inc. reported an operating loss of $1.3 billion for the fourth quarter of 2015, compared to after-tax operating income of $1.4 billion in the prior-year quarter. Disappointing underwriting and investment returns resulted in American International Group Inc. … Read More Read more here:: Insurance Journal       

Liberty Specialty Markets, part of Liberty Mutual Insurance Group, has promoted Mike Gosselin to the role of chief underwriting officer for specialty, while also naming David Saillen as head of fine art & specie – Continental Europe. An industry veteran … Read More Read more here:: Insurance Journal       

A U.S. government weather forecaster on Thursday said the El Nino weather phenomenon under way was likely to dissipate by the Northern Hemisphere’s late spring or early summer and possibly transition to La Nina conditions later this year. The National … Read More Read more here:: Insurance Journal       

The U.S. Supreme Court’s unexpected move to block President Barack Obama’s policy to cut pollution from coal plants highlights what both sides in the legal fight agree is a key weakness in the rules — a provision that expands the … Read More Read more here:: Insurance Journal       

Nearly one in five vehicles on U.S. roads is in need of repair of a safety issue serious enough to be involved in a federal government recall, according to used-car history provider Carfax. There are more than 47 million cars … Read More Read more here:: Insurance Journal       

By L.S. Howard A UK exit from the European Union will create a “rarely experienced” level of uncertainty for Lloyd’s, the London market as well as the UK and other European economies, according to Sean McGovern, Lloyd’s chief risk officer and general counsel. … Read More Read more here:: Insurance Journal       

By Andrew G. Simpson Kemper Corp.’s Denise I. Lynch is leaving her position as Property/Casualty group executive, effective immediately, to pursue other opportunities, the insurer said. The news comes after Kemper reported its P/C segment had a $5.1 million operating loss in the fourth … Read More Read more here:: Insurance Journal       

The Obama administration is creating a new high-level federal official to coordinate cybersecurity across civilian agencies and to work with military and intelligence counterparts, as part of its 2017 budget proposal announced this week. The $19-billion increase in cybersecurity funding … Read More Read more here:: Insurance Journal       

A Richland County jury has awarded about $1 million in punitive damages to a woman injured in a car crash involving a repeat drunken driver. The State newspaper reported that a jury last week also awarded Jami Allison Owens $89,000 … Read More Read more here:: Insurance Journal