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News – Insurance Journal

AIR Worldwide Develops Probabilistic Model for Global Cyber Risks
Catastrophe risk modeling firm AIR Worldwide announced it has developed a probabilistic model for cyber risk, which is capable of accounting for security breach and cloud service provider downtime incidents for insurance portfolios worldwide. AIR’s probabilistic cyber model estimates the …

POSTED OCTOBER 22, 2018 10:58 AM
London Market Group to Offer Faster Solution for Coverholder Approval
The London Market Group (LMG) announced that a contract has been signed with Sequel to deliver a faster and more efficient solution for approving and registering coverholders, and a new integrated tool for generating delegated authority binder contracts. This is …

POSTED OCTOBER 22, 2018 10:35 AM
Miller Agrees to Acquire London Re/Insurance Broker Alston Gayler
Miller announced it has entered into a definitive agreement to acquire Alston Gayler and Co. (AG), majority owned by Nelson Holdings Ltd. AG is an independent London market re/insurance broker specializing in multiple lines of business, said Miller, noting that …

POSTED OCTOBER 22, 2018 9:46 AM
Billionaire Li’s FWD Group Nearing Deal to Buy CBA’s Indonesia Unit
Billionaire Richard Li’s FWD Group is nearing an agreement to buy control of Commonwealth Bank of Australia’s Indonesian life insurance arm, people familiar with the matter said, in a deal that would boost the tycoon’s presence in one of the …

POSTED OCTOBER 22, 2018 9:34 AM
London’s Biggest Private Taxi Firm Aims to Roll Out Self-Driving Cars by 2021
A fleet of autonomous taxis could roll onto the streets of the U.K. capital within three years, after one of London’s biggest private-hire taxi companies struck a deal with a maker of autonomous vehicle software. Addison Lee Group, which has …

POSTED OCTOBER 22, 2018 9:26 AM
China Insurer PICC Cuts Size of IPO in Response to Collapse in Market Prices
The People’s Insurance Company (Group) of China Ltd., the nation’s largest property insurer, cut the size of a planned first-time domestic share sale and indicated it will proceed when the market improves. The company will offer a maximum of 1.8 …

POSTED OCTOBER 22, 2018 8:57 AM
West Virginia Won’t Change Funding for State Workers’ Comp Funding in 2019
West Virginia Gov. Jim Justice says there will be no change in state funding for the state employees’ public insurance plan next year in a letter to the agency’s director. The Charleston Gazette-Mail reports Justice said in the letter that …

POSTED OCTOBER 22, 2018 5:21 AM
Lawsuit Over Fan Death at Atlanta Braves Stadium Claims Team, MLB Ignored Safety
In court documents filed last week in a lawsuit following the 2015 death of a fan who fell from the upper deck at an Atlanta Braves game, Nolan Ryan says guard rails at the Texas Rangers’ stadium had to be …

POSTED OCTOBER 22, 2018 5:17 AM
Conservative Ex-Google Engineer’s Bias Complaint Goes to Arbitration
The engineer who sued Google after he was fired for blasting the company with allegations of anti-conservative bias won’t get his day in court after all. James Damore’s claims against the Alphabet Inc. unit will be heard behind closed doors …

POSTED OCTOBER 22, 2018 5:00 AM
To Insure Cyber or Not to Insure Cyber: Cautions and Caveats for Carriers
While there are some issues with the data, virtually every report shows the cyber insurance market growing. Aon Benfield had it growing 37 percent last year to $1.8 billion. It’s profitable and the loss ratio is in the 30s or …

POSTED OCTOBER 22, 2018 5:00 AM

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