Claims / Legal
VC Firm Backed by Ex-Intelligence Chiefs Plans EU-Wide Cybersecurity Firm
A venture capital fund advised by former British and U.S. intelligence officials is planning a string of acquisitions to create a pan-European cybersecurity specialist. C5 Capital aims to create a ...
Munich Re’s Hartford Steam Boiler Debuts Broad, Small-Biz Cyber Cover
Munich Re's Hartford Steam Boiler has started offering what it billed as comprehensive cyber insurance coverage for small to medium-sized businesses and other organizations. The HSB Cyber Suite ...
Natural Catastrophe Economic Losses Hit a Record $353B in 2017: Aon Benfield
Insured losses for last year's 330 natural catastrophes reached $134 billion, or 38 percent of their economic price tag of $353 billion, according to a report published by Impact Forecasting, Aon ...
QBE Faces $1.2B in ‘Unprecedented’ Natural Catastrophe Claims for 2017
QBE announced to the market this week that it expects a $1.2 billion after-tax loss in 2017 on "unprecedented" natural catastrophe claims. "This has been a challenging year for QBE, reflecting an ...
Expect Up to $19B in Losses With a U.S. Cloud-Computing Failure
A cyber problem that temporary shuts down a top U.S. cloud computing provider could trigger as much as $19 billion in business losses, only a fraction of which would be insured, Lloyd's of London ...
U.S. Commercial Auto Rate Hikes Thus Far May Not Reverse Losses: A.M. Best
The U.S. commercial automobile insurance segment saw big rate jumps in the first three quarters of 2017, but they may not be enough to reverse underwriting losses, A.M. Best said in a new report. ...
U.S. Threatens to Sue Generic-Drug Makers in Price-Fixing Probe; Shares Fall
Shares of generic-drug makers including Mylan NV and Teva Pharmaceutical Industries Ltd. fell after the Justice Department's antitrust division said it might sue them for damages in a price-fixing ...
Delaware Sues Opioid Manufacturers, Distributors Over Epidemic
Delaware on Friday became the latest state to file a lawsuit accusing corporations of helping fuel the national opioid epidemic, suing a wide range of companies involved in making, distributing and ...