- U.S. sets new final rule on oil, ethanol trains
(Reuters) — The Obama administration on Wednesday released a new regulation intended to prevent explosive rail disasters such as the 2013 oil train derailment that killed 47 people and destroyed part of Lac-Mégantic, Quebec.
- Commercial insurance premium rates continue to drop
Commercial insurance rates dropped in the second quarter of 2015, according to The Council of Insurance Agents & Brokers’ quarterly Commercial P/C Index Survey released Wednesday.
- Acquisitions boost Gallagher's second-quarter results
Arthur J. Gallagher & Co.’s second-quarter 2015 revenue increased 16.3% to $1.37 billion, a reflection of strong organic and acquisition growth, the broker said.
- Cyber insurance program for restaurants offered
Heffernan Insurance Brokers has launched a cyber insurance program for data security risks for restaurants.
- Jeep fuel-tank fire death verdict slashed to $40 million
(Reuters) — A judge in the state of Georgia has reduced a $150 million award to $40 million for the family of a young boy killed when the 1999 Jeep Grand Cherokee in which he was riding was rear-ended and burst into flames, according to orders…
- FDIC authorizes executive liability lawsuits against 1,207 defendants
The Federal Deposit Insurance Corp. has authorized lawsuits in connection with 150 failed financial institutions against 1,207 individuals for directors and office’s liability.
- Oil rig explosion loss hits Validus quarterly results
Validus Holdings Ltd. saw its second-quarter profit drop 56.7% to $81.7 million compared with the same period last due in large part to significant losses in an oil rig explosion, the reinsurer said Wednesday.
- Total cost of risk dips in 2014
Businesses paid slightly less in 2014 to cover their total cost of risk than the past three years, according to the 2015 RIMS Benchmark Survey, the Risk & Insurance Management Society Inc. said Wednesday in its annual benchmark survey.
- State insurance commissioners unveil more cyber security standards
The National Association of Insurance Commissioners is ratcheting up its efforts to tackle cyber security issues with three additional initiatives, including one to help regulators verify insurers are protecting personal information.