A putative class action filed in federal court accuses California-based CIBA Insurance of operating as an illegal 'Ponzi scheme' in collaboration with a number of insurance company partners, including co-defendant Great Lakes Insurance SE.
Berkshires namesake reinsurance group and General Re unit incurred costs tied to a cyclone in Australia. Pretax profit fell 34 percent at Geico, which sells auto coverage.
The insurance group reported that underwriting profit slipped 34 percent to $272 million as results worsened at the companys namesake reinsurance business and auto insurer Geico.
The insurance industry can do more to encourage natural risk protection. Here's a dozen examples of U.S. communities harnessing nature to protect against natural disasters.
Savvy agents and brokers can take advantage of carriers healthy appetites in this market, where low gas prices helped buoy sales of recreational watercraft in 2015.