Article Comments General Insurance Corp., India’s largest reinsurer, and its owner will seek as much as 113.7 billion rupees ($1.7 billion) after setting terms for the third-biggest initial public offering on record in the South Asian nation. GIC will offer 17.2 million new shares at 855 rupees to 912 rupees apiece, according to advertisement published […]

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Insurance company employees wondering where all their bosses are this week should not be worried. It’s a good bet the executives are safe in Las Vegas at the second annual InsureTech Connect Conference. More than 3,800 insurance and technology enthusiasts from the U.S. and around the globe have flooded the corridors and conference rooms of […]

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A state task force is continuing to examine issues surrounding legalized recreational use of marijuana. While eight states and the District of Columbia have legalized recreational use of marijuana, each has done so through referendum, which Delaware does not allow. That leaves the possibility that Delaware could be the first state to implement legalization through […]

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Article Comments Officials say a jumpsuit flushed down a toilet by an inmate has caused at least $100,000 in damage to a justice complex in New Jersey. Pipes burst, including the main sewer line, damaging courtrooms and the sheriff’s office at the Ocean County Justice Complex on Sept. 24. The inmate who flushed the suit […]

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A Haitian man who federal prosecutors say was the ringleader of an auto insurance scam involving as many as 50 staged car crashes was sentenced Monday to four years in prison and ordered to pay $207,000 in restitution. Mackenzy Noze, 33, a legal permanent U.S. resident who lived in Norwich, a city in southeastern Connecticut, […]

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The African arm of Germany’s Munich Re has dropped KPMG as its auditor, the latest company to distance itself from the accountancy firm entangled in a scandal involving friends of South African President Jacob Zuma. KMPG sacked its South African leadership last month after it found work done for companies owned by the Gupta family […]

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Hurricanes Jose, Maria and Lee form in the Atlantic in September/ SHUTTERSTOCK.COM Reinsurance pricing could improve as the recent concentration of natural catastrophes could make 2017 the costliest on record for the insurance industry, according to a Tuesday research note from Morgan Stanley. “We expect double-digit rate increases in property cat reinsurance, with more in […]

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(Reuters) — Yahoo Inc. on Tuesday said that all 3 billion of its accounts were hacked in a 2013 data theft, tripling its earlier estimate of the size of the largest breach in history, in a disclosure that attorneys said sharply increased the legal exposure of its new owner, Verizon Communications Inc. The news expands […]

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Risk managers and consultants are advocating a shift away from focusing on claims management metrics such as closure rates toward continuing education, feedback and scenario-based learning for claims professionals to enhance their skills. Forty-six percent of workers compensation claims professionals surveyed recently believe claims adjusters gain expertise after four to six years on the job, […]

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