News

The trend in jury awards and medical costs for dog bites is a mean tale for carriers, according to the Insurance Information Institute, noting that homeowners insurance liability claims for such injuries are up 28 percent since 2003.

Mobileye Inc., a Los Angeles auto safety technology firm, announced it has formed a product distribution relationship with AssureNet, a provider of risk-management and safety services to the insurance and transportation industries.

Australian insurer QBE announced it has acquired the CIGNA special risk, student and sports accident insurance book of business. Financial terms were not disclosed.

Allstate Insurance Company has agreed to settle a government age discrimination suit by paying $4.5 million to 90 older agents impacted by a company reorganization, it was announced.

U.S. District Court Judge Stanwood R. Duval Jr. in New Orleans has given approval to settlement of class-action lawsuits against several Louisiana levee boards for damage from Hurricanes Katrina and Rita.

While many insurers have adopted the concept of a chief risk officer, a CRO's functions and authority are largely underdeveloped, according to a new study by Deloitte.