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Tag: insurance-journal

Exposed Utility Wires May Have Contributed To LA’s Eaton Fire, Law Firm Says
Insurance Journal | January 30, 2025
Exposed Utility Wires May Have Contributed To LA’s Eaton Fire, Law Firm Says
A law firm representing victims of the Eaton Fire in Los Angeles has submitted photos with a legal filing on Wednesday that appear to show exposed wire at the base of a Southern California Edison tower that the firm alleges …
Net Income at Selective Insurance Drops on Unfavorable Casualty Reserve Development
Insurance Journal | January 30, 2025
Net Income at Selective Insurance Drops on Unfavorable Casualty Reserve Development
Selective Insurance Group reported a 24% drop in fourth quarter 2024 net income as its chief executive admitted the year did “not meet expectations.” Fourth quarter net income was $93.2 million compared to $122.5 million a year ago. Net income …
Alphabet’s Waymo to Test Autonomous Driving Technology in New Cities
Insurance Journal | January 30, 2025
Alphabet’s Waymo to Test Autonomous Driving Technology in New Cities
Alphabet’s self-driving unit Waymo announced on Wednesday it plans to expand testing of its autonomous driving technology in over 10 new cities in 2025. After testing the Waymo Driver in multiple cities, the company says the technology is adapting successfully …
How Competitive Is E&S Property? Exec Views Vary
Insurance Journal | January 30, 2025
How Competitive Is E&S Property? Exec Views Vary
E&S property insurance market conditions were a recurring talking point on two recent earnings conference calls, but the leaders of specialty insurers offering commentary were not perfectly in lockstep in their assessments of the competitive landscape. At RLI Corp., property …
Generali to Pay Out Over €7 Billion in Dividends by 2027
Insurance Journal | January 30, 2025
Generali to Pay Out Over €7 Billion in Dividends by 2027
Assicurazioni Generali SpA plans to return more than €7 billion ($7.3 billion) in dividends and buy back at least €1.5 billion in shares by 2027, as Chief Executive Officer Philippe Donnet pursues growth in asset management and high-margin insurance. Italy’s …
EU Says Drive to Simplify Will Not Weaken Climate Agenda
Insurance Journal | January 30, 2025
EU Says Drive to Simplify Will Not Weaken Climate Agenda
The European Union’s drive to simplify rules will not weaken the bloc’s climate change goals, European Commission President Ursula von der Leyen said. She was speaking on Wednesday after the Commission published a plan to boost EU competitiveness, the first …
People Moves: Lloyd’s Promotes Cliff to CFO, Succeeding Keese; Ryan Re Appoints BMS’ Ryan as EVP to Lead Strategic Business Development
Insurance Journal | January 30, 2025
People Moves: Lloyd’s Promotes Cliff to CFO, Succeeding Keese; Ryan Re Appoints BMS’ Ryan as EVP to Lead Strategic Business Development
This edition of International People Moves details appointments at Lloyd’s and Ryan Re. A summary of these new hires follows here. Lloyd’s Promotes Cliff to CFO, Succeeding Keese Lloyd’s, the insurance and reinsurance marketplace, announced the appointment of Alexandra Cliff …
Theft and Violence in UK Retail Soar to Record Levels, Survey Shows
Insurance Journal | January 30, 2025
Theft and Violence in UK Retail Soar to Record Levels, Survey Shows
Theft and violence against retail workers in Britain soared to record levels last year and are “out of control,” driven partly by criminal gangs, according to a report published on Thursday. Industry body the British Retail Consortium’s annual crime survey …
UK Government Agencies Vulnerable to Cyberattacks, Watchdog Says
Insurance Journal | January 30, 2025
UK Government Agencies Vulnerable to Cyberattacks, Watchdog Says
British government departments have operated hundreds of outdated computer systems and failed to meet their own cybersecurity targets, increasing the risk of a disruptive hack, a watchdog has found. The National Audit Office, an independent parliamentary body, flagged the concerns …
Flood-Prone New Zealand Says It Needs to Adapt to Climate Extremes
Insurance Journal | January 30, 2025
Flood-Prone New Zealand Says It Needs to Adapt to Climate Extremes
New Zealand plans to introduce legislation before the end of the year that will create a framework to help communities and businesses adapt to the impacts of climate change. The law will establish guiding principles and responsibilities for adaptation action, …