Archive for May 2017

Private U.S. property/casualty insurers suffered a $4.7 billion net underwriting loss in 2016-following an $8.9 billion net underwriting gain in 2015-and experienced a 25 percent drop in net income after taxes to $42.6 billion from $56.8 billion a year earlier, … Source: Claims Journal

Genpact Acquires BrightClaim Genpact, a global professional services firm focused on delivering digital transformation for clients, has acquired BrightClaim and their associated company National Vendor, both leading providers of integrated claims solutions to the U.S. property and casualty (P&C) insurance … Source: Claims Journal

A New York City museum’s collection includes the insurance policy written for the Hindenburg, which exploded over New Jersey 80 years ago this weekend. The Daily News reports officials at the New York City Fire Museum in Lower Manhattan unveiled … Source: Claims Journal

Thunderstorms and wind had delayed the Hindenburg’s arrival in New Jersey from Germany on May 6, 1937. The father of 8-year-old Werner Doehner headed to his cabin after using his movie camera to shoot some scenes of Lakehurst Naval Air … Source: Claims Journal

State Farm Mutual Automobile Insurance Co., the largest U.S. home and auto insurer, plans to shut 11 U.S. facilities, displacing about 4,200 workers, after a $7 billion annual underwriting loss last year on auto policies. The insurer will exit Parsippany, … Source: Claims Journal

Retire by your mid-60s? How 1960s. More Americans age 65 and over are still punching the clock, and the last time the percentage was this high was when John F. Kennedy was in the White House. Last month, 19 percent … Source: Claims Journal

The U.S. government’s highway safety agency is investigating complaints that the brakes can malfunction on some Nissan SUVs. The probe covers about 110,000 Muranos from the 2009 model year. The National Highway Traffic Safety Administration says in documents posted Friday … Source: Claims Journal

Eighteen members of a now-shuttered fraternity at Penn State University and the frat itself are facing criminal charges in the death of a student who was fatally injured in a fall during an alcohol-fueled pledge night. Eight frat brothers at … Source: Claims Journal

Funding cuts from a wide variety of sources are raising the risk that Alaska may lose constant earthquake monitoring and analysis performed by the Alaska Regional Seismic Network, officials have said. Staffing at the agency is down to 14 employees … Source: Claims Journal

River levels are falling after record and near-record flooding in parts of the Midwest, but the crisis is far from over. Downpours that dumped up to a foot of rain in parts of the nation’s midsection last weekend led to … Source: Claims Journal