Claims / Legal
Cyber Insurance Premium Tally: $1.3B in 2016, a 35 Percent Hike
Property/casualty insurers wrote $1.35 billion in direct written premium for cyber insurance in 2016, a 35 percent jump from 2015, according to reports by Fitch Ratings and A.M. Best. The largest ...
Ex-Uber CEO Alleged to Know Engineer Possessed Google Driverless Car Info
Ousted Uber Technologies Inc. head Travis Kalanick learned early last year that the engineer who until recently oversaw the company's driverless car project possessed discs of information from ...
FBI: Cybercrime Losses Reached $1.33B in 2016, a 24 Percent Rise
Losses from cyber crimes rose 24 percent in 2016 to over $1.33 billion, according to a report by the Federal Bureau of Investigation's Internet Crime Complaint Center (IC3). The center, which was set ...
Aging Millennials More Emotionally Connected to Their Insurers Than Gen X, Boomer Counterparts
Millennials are aging, and that may be good news for property/casualty insurers. Here's why: Millennials appear to have a stronger affinity for insurance companies than their Gen X or baby boomer ...
QBE Cautions Emerging Markets’ Division Hammered by Higher Claims
Sydney-based QBE warns that its Emerging Markets' division has experienced an unexpected surge in claims from January through May due to multiple factors. As a result, this division is expected to ...
Cyber Risk Rating Principles Emerge From U.S. Banks, Others
More than two dozen U.S. companies, including several big banks, have teamed up to establish shared principles that would allow them to better understand their cybersecurity ratings and to challenge ...
Tropical Storm Cindy Poised to Dump Heavy Rain in Four States
Tropical Storm Cindy emerged in the Gulf of Mexico with top winds of 45 miles (72 kilometers) per hour. So far, disruptions to oil and gas operations have been limited. The storm prompted watches and ...
More Flood Insurance Bills to Come after Two Advanced by House Committee
The House Financial Services Committee on Thursday passed two bills to reform the National Flood Insurance Program (NFIP). One is a broad reform proposal that seeks to encourage more private ...