News from Hiscox, ALM, Cunningham Lindsey and more.
Month: July 2016
California faces power shortages as heat and outages cut supply
California is facing electricity shortages as abnormally high temperatures and plant outages challenge a region already grappling with limited natural gas supplies and a drought.
Chubb CEO says luck is all some rivals have with political risks
Coverage for trade credit and political risk can be particularly dangerous, given that the global economy faces growing protectionism.
Around the P&C insurance industry: July 27, 2016
News from Mitchell, CAPA, Integro and more.
VW’s $14.7 billion diesel-cheating settlement gets go-ahead
The plan for buybacks and a possible fix covers car owners, the U.S. government and 44 states and will cost the company about $15.3 billion if the agreements are fully adopted.
Hartford to sell U.K. ops to exit asbestos, environmental policies
Hartford previously divested a domestic life business, its Japan operations and a U.K. unit that offered retirement products.
Future is bright for renewable energy market
A buyers’ market for coverage and strong growth in renewable energy, particularly in solar and wind power, provides opportunity for agents and brokers looking to grow their book.
People on the move in the P&C insurance industry: July 22, 2016
News from Air Worldwide, PHLY, DIMA and more.
Georgia insurer agrees to cover $4.9M judgment despite policy limits
Attorneys for Georgia MAG Mutual Insurance have finalized an agreement to pay nearly $3 million above the medical malpractice policies’ ceiling to the family of 78-year-old Ok Hui Smith.
Honda audit finds Takata engineers manipulated air-bag test data
The results of the audit will factor in Honda’s investigation into whether it should recall some additional Takata inflators.