Some insurers, in their never-ending effort to more accurately measure risk, have found drivers can help—and in the process, maybe save themselves a few bucks. A relatively new “telematics” tool is becoming more and more common in the automobile-insurance underwriting realm: pay-as-you-drive, or usage-based programs.
Frederick H. Eppinger, chief executive officer of The Hanover, says he certainly won’t apologize for good timing, but the recent bid to acquire Chaucer Holdings was not driven by the state of the Lloyd’s market.
Weather during the last couple of days has helped firefighters battle several massive wildfires in Texas that have destroyed hundreds of homes and more than a million acres of land.
Chartis, the property and casualty unit of American International Group Inc., says it will transfer a bulk of its asbestos liability to Berkshire Hathaway’s National Indemnity Co.