Claims / Legal
Lloyd’s Discloses Standardized Data Requirements for Cyber Risks
Lloyd's of London has developed common core data requirements for cyber risks, a task achieved through collaborating with modeling firms AIR Worldwide and RMS, along with RMS' partner, the Cambridge ...
Hiscox Adds Nuclear and Biothreat Coverage to Terrorism Portfolio
Hiscox said it has beefed up its terrorism coverage, with an eye on addressing nuclear, chemical or biological threats. The specialist insurer also noted it provides the coverage, including policies ...
For carriers and MGAs, cloud-hosted insurance platforms can reduce IT overhead, strengthen business continuity, improve security, and make scaling claims...
South Korea Will File Criminal Complaint Against VW’s Local Chief
South Korea plans to file a criminal complaint against the head of Volkswagen AG and Audi AG's local unit later on Tuesday, saying that a recall plan for emissions-cheating cars fell short of legal ...
Marine Insurer Caution Will Slow Oil Tanker Market’s Return to Iran
Foreign oil tanker owners are expected to make a slow return to Iran despite the lifting of many sanctions as insurers tread carefully, leaving shipping players unwilling to pick up cargoes as ...
Merck Will Pay $830M to Settle Securities Suit Over Recalled Heart Drug
U.S. drugmaker Merck & Co on Friday said it would pay $830 million to settle a federal class action lawsuit involving allegations the company failed to adequately inform investors about heart ...
Nuclear Liability Insurance is Sticking Point in Westinghouse India Reactor Deal
Toshiba Corp's Westinghouse Electric hopes to clinch a deal to build six nuclear reactors in India by end-March, its CEO said, in time for a possible visit by Prime Minister Narendra Modi to ...
Underwriters Spooked by New China Rules for Botched IPOs
Newly approved Chinese rules for IPOs are rattling investment banks as investors can seek compensation immediately if they suffer losses due to false or misleading information in the listing ...
Top Shareholders Urge Ambac CEO to Leave Due to Claims-Payment Delays
Three of Ambac Financial Group Inc's top ten shareholders are calling on its new CEO Nader Tavakoli to step down, according to people familiar with the matter. One of the reasons they give is that he ...