Islamic extremists claim responsibility for German market attack
Further details are emerging of what appears to be a terrorist incident by an Islamic extremist in Europe.
Following attacks in Belgium, France and Germany, the latest attack was in the German capital Berlin. A lorry was driven into intentionally into visitors to a Christmas market, killing 12 and injuring dozens more.
German paper Bild reports that the suspect, who was arrested, is a 23 year old Pakistani immigrant who moved to Germany last year and was staying at Berlin’s refugee center.
Early reports said that a passenger in the lorry was killed at the scene, although it appears that he was likely to have been the lorry’s Polish driver and that he was hijacked and killed. He did not drive the lorry into the market.
Although authorities have not confirmed it, terrorist group Islamic State has claimed responsibility for the attack.
Auto passenger loss costs rise sharply says III
Insurance costs for passengers involved in auto accidents have risen sharply in the last two years, the Insurance Information Institute says.
Size and volume of claims has increased; collision claim frequency was up 2.6 per cent between the first quarter of 2014 and the first quarter of 2016, while claim severity rose 8.2 per cent.
"There has been an alarming increase in crashes and claims reported. This, combined with the cost of the claims themselves, has led to a dramatic rise in the overall loss cost," states a just-released I.I.I. white paper, Personal Automobile Insurance: More Accidents, Larger Claims Drive Costs Higher.
More drivers are taking longer journeys, the report says, as the improving US economy puts more cars on the roads.
Fatal crashes were up 7.2 per cent in 2015 according to NHTSA data.
"Until the past couple of years, the frequency of U.S. crashes had generally been dropping for many years while severity—the cost of paying these crash claims—was generally rising. Now they are both rising. That means private-passenger auto insurers are seeing more and costlier crashes, and that is why auto insurance costs are rising in many U.S. states," said James Lynch, the I.I.I.'s chief actuary, who wrote the paper along with Dr. Steven Weisbart, the organization's chief economist, and Dr. Robert Hartwig, special consultant to the I.I.I.
Insurance software firms combine to expand cloud solution
Property and casualty insurers will be offered an enhanced all-in-one cloud-based solution, following a combination of two software providers.
Guidewire has acquired ISCS in a deal which should close in around 60 days, and gives Guidewire access to additional technology to bolster its product offering.
“Like Guidewire, ISCS is a software company focused exclusively on serving P&C insurers,” said Marcus Ryu, chief executive officer, Guidewire Software. “Their technology and expertise will enable us to provide a new option to our customers and augment our progress in delivering cloud-based products. We are excited by the opportunity to welcome the ISCS team and customers to our community.”
