Currently viewing the category:
"Commercial Auto"
The nonstandard auto market is characterized by substandard operating performance. Since 2007, carriers writing nonstandard auto policies have reported deteriorating operating performance and many are struggling to maintain market share.
But that hasn’t stopped interest in this large – and extremely volatile – segment of the property/casualty industry. Continue reading
General Motors Co. is seeking U.S. government approval for a fully autonomous car – one without a steering wheel, brake pedal or accelerator pedal – to enter the automaker’s first commercial ride-sharing fleet in 2019, executives said. Continue reading
Federal regulators are taking the first step toward creating a policy guiding the development of autonomous transportation beyond self-driving cars to include trucks, buses and other ground-based modes.
The U.S. Transportation Department will soon publish four requests for public comment on how to cast aside roadblocks for transportation advancements in vehicles, trains, buses, commercial trucking and transit systems, Transportation Secretary Elaine Chao said Wednesday. Continue reading
After years of decreases, casualty insurance risks, including directors and officers liability and other specialty lines, generally saw flat renewals on Jan. 1, 2018, with the notable exception of commercial automobile risks where insurers obtained rate increases, experts say. Continue reading
Defective product risk is an increasing peril for companies, causing significant financial damage, according to a newly released Allianz Global Corporate & Specialty (AGCS) report.
Recall exposures have increased significantly over the past decade, bringing the potential for larger and more complex losses than ever before, AGCS warned. Continue reading
The massive influx of projects the construction industry is enjoying these days hit home for me not in New York, where I live, but overseas.
Last summer I visited Lloyd’s of London to conduct interviews and shoot video for our “Inside Lloyd’s” project, which provided a rare look inside the inner workings of the world’s leading specialty insurance market. On July 9, 2016, I had the chance to gaze upon the city from one of the Lloyd’s building’s exterior-set glass elevators. One would be hard-pressed to find a more spectacular view of London. Continue reading
Car shoppers are more ready for autonomous vehicles than they may realize, according to a report from car shopping platform Edmunds.com. More than 60 percent of new vehicle models today can be purchased with some level or autonomous features, the report, Transportation Transformation, shows.
Continue reading
A construction business can end up facing considerable consequences if it finds itself in a situation where the insurance program is insufficient in respects to coverage and defense. Sometimes the price of a project at the time of bid, will end up having a considerable upswing, due to many inherent costs that can be added on due to litigation that surfaces years after the job is done. Continue reading
