Claims / Legal
Munich Re Warns Harvey, Irma Storms Could Erase Q3 Profit, Challenge 2017 Target
Munich Re, the world's largest reinsurer, said storms led by Hurricanes Harvey and Irma will probably wipe out third-quarter profit and threaten the company's ability to meet its full-year earnings ...
Travelers’ Hurricane Harvey Pretax Losses Could Reach $750M
The Travelers Companies said it will deal with as much as $750 million in pretax catastrophe losses stemming from Hurricane Harvey. It's still early yet, so Travelers disclosed an estimate with a ...
Streams of Raw Sewage Overwhelm Cities Slammed by Hurricanes Harvey and Irma
Hurricane Harvey took aim at one of the nation's most industrial regions, releasing a stream of toxic pollutants from chemical plants, refineries and Superfund sites in Texas. But when its bigger ...
National Flood Insurance Program Gains Extension Until Dec. 8; Reform Talks Continue
President Donald Trump last Friday signed legislation reauthorizing the National Flood Insurance Program until Dec. 8, 2017, which buys more time for Congress to consider reforms of the program. The ...
Qualified Claims Inspectors Needed After Florida/Texas Hurricane Double Whammy
Insurers are scrambling to find inspectors in Texas and Florida after fierce hurricanes battered the states one after the other, causing tens of billions of dollars' worth of property damage in less ...
Insurers, Reinsurers Alike See Stock Gains as U.S. Irma Fears Subside
Insurers jumped in markets from Europe to Florida amid signs that predictions about Hurricane Irma's damage were excessively dire. Giant reinsurers like Swiss Re and Munich Re, which shoulder risks ...
Irma Analysis: Insurer Financial Stress Unlikely If Early Loss Estimates Hold
Before Hurricane Irma made landfall in south Florida on Sunday morning, analysts were assessing the potential damage to property/casualty insurer and reinsurance balance sheets and earnings. On ...
Equifax’s Cyber Insurance Reportedly Not Enough to Address Massive Breach
Equifax Inc.'s insurance against cyber breaches is likely inadequate to cover the credit-reporting company's costs tied to one of the biggest hacks in history, according to people familiar with the ...