Insurance
Top stories summarized by our editors
4/25/2017

The Supreme Court will not review a federal appeals court decision that litigants can move forward with further claims related to General Motors' defective ignition switches. The automaker had sought to avoid the claims based on the fact that they involve deaths and injuries that occurred prior to its 2009 bankruptcy filing.

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Supreme Court, General Motors
4/25/2017

Recent political shifts and the resulting sentiment toward protectionism in the US and internationally is prompting companies to seek expanded coverage, insurers say. Carriers such as Zurich Insurance report growth of new business for political-risk coverage.

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Reuters
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Zurich Insurance
4/25/2017

Artificial intelligence could "revolutionize" the insurance landscape for agents, brokers and customers, according to an Accenture report. Insurers' are investing in AI "to, among other things, improve customer interactions based on written and spoken interactions, gestures, interactive touch displays and hybrid mixed-reality platforms that merge the virtual and the real world," said John Cusano of Accenture.

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PropertyCasualty360
4/25/2017

A storm is dropping heavy rain throughout the Southeast, particularly in the Carolinas. People have had to be rescued from their vehicles amid flooding that has led to road closures.

4/25/2017

Hurricane Matthew caused economic losses estimated at $15 billion, including record-setting insured losses of at least $400 million in the Bahamas, according to an Aon Benfield report. Matthew caused at least 604 deaths and broke the record for longest sustained Category 4 and 5 intensity for an October hurricane in the Atlantic Ocean.

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PropertyCasualty360
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Hurricane Matthew, Aon Benfield
4/25/2017

Crews are battling a wildfire in southern Arizona that expanded from about 1,500 acres on Sunday afternoon to about 7,500 a day later. The fire has led to road closures and the evacuation of at least six people.

4/25/2017

North American respondents to Aon's 2017 Global Risk Management Survey cited cyberrisk as their top risk concern. The survey's results also highlight worries that social media adds increased risk of damage to reputation and brand.

4/25/2017

Financial advisers must consider clients' emotions as well as finances to best evaluate overall financial well-being, according to Morningstar research. Advisers should target two mental factors, which are the concepts that "time is money" and that "power is happiness," writes Morningstar behavioral economist Sarah Newcomb.

4/24/2017

President Donald Trump has signed executive orders suspending for 180 days provisions of the Dodd-Frank Act that authorize the liquidation of distressed banks and the designation of nonbanks as systemically important financial institutions. Trump has instructed the Treasury Department to review rules governing the procedures.

4/24/2017

Federal Reserve Vice Chairman Stanley Fischer still expects two additional interest-rate increases this year. Positive data from China and Europe promise strong global economic growth, he says.

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Bloomberg
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Stanley Fischer, Federal Reserve