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Wednesday, June 12, 2013

Berkshire's New Insurance Push Driven by Lack of Price Spikes

Berkshire HathawayWarren Buffett's Berkshire Hathaway Inc. is taking a big new plunge into the business-insurance sector in part because of a shift in the way the sector operates, a top executive at the company said.

Mr. Buffett and his insurance lieutenant, Ajit Jain, have long been known for jumping into the comme...

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Deloitte: Are Small Business Insurance Buyers Ready to Take the Direct Sales Route?

DeloitteDirect sales of auto insurance to consumers has been a prime distribution platform for a number of years, keeping the heat on agents and brokers to demonstrate their added value if they want to retain or expand their market share. However, a day of reckoning for intermediaries on small-commercial business might simi...

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Bloomberg Outlines $20 Billion Storm Protection Plan

NY StormsMayor Michael R. Bloomberg outlined a far-reaching plan on Tuesday to protect New York City from the threat of rising sea levels and powerful storm surges by building an extensive network of

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William Gallagher Launches Wholesale Insurer Wright Insurance Brokers

WGABoston-based William Gallagher Associates Insurance Brokers Inc. has launched a wholly owned wholesale property/casualty operation called Wright Insurance Brokers.

The wholesale unit, which will be based in New York and maintain a London underwriting facility, will focus on risks in the

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New York Sees Trouble in Life Insurers Use of Captives

NY Fnancial Services regulatorA nearly year-long probe by New York's top financial-services regulator into life insurers' use of affiliated reinsurance entities has identified $48 billion in potentially troublesome transactions with "inconsistent, spotty and incomplete disclosures," officials said in a new repor...

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AAA Research Reveals Voice-Activated In-Car Technologies Dangerously Undermine Driver Attention

Triple A study of voice activated car technologyHands-free technologies might make it easier for motorists to text, talk on the phone, or even use Facebook while they drive, but new findings from the AAA Foundation for Traffic Safety show dangerous mental distractions exist even when drivers keep their hands on the wheel and th...

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Insurers Are Over-Reliant on Disaster Models: Karen Clark

Cat modelingKaren Clark, one of the founders of the catastrophe modeling industry, is among the panelists sounding the alarm at Advisen Property Insights Conference about the insurance industry's reliance on the very models she helped invent.

Those models are used by insurers to calculate the probability of major los...

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Willis Launches CRIMEstar: The First All Risks Cover for Commercial Crime

Willis CRIMEstar productWillis Group Holdings, the global risk advisor, insurance and reinsurance broker, today unveiled, CRIMEstar, a new commercial crime all risks wording, in response to the growing threat to businesses from fraud and other criminal activity. The policy covers businesses for losses sustained by them as a re...

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Aon Expands WorldAware Solutions with Interactive Map to Help Organizations Safeguard Employees and Assets

AonAon Risk Solutions, the global risk management business of Aon plc, today unveiled the Aon WorldAware GeoAlert Map, a technology-based enhancement to WorldAware Solutions, Aon's award-winning travel risk management platform.

The Aon WorldAware GeoAlert Map provides clients with an interactive map that reflects data from ...

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