Claims / Legal
Higher Catastrophe Losses Will Dampen Q3 Earnings: KBW Analysis
Higher catastrophe losses should help push Q3 2021 earnings per share below consensus for carriers, but rate increases should help boost reinsurer results, according to KBW analyst Meyer Shields. ...
China’s Evergrande Property Crisis Creates Minimal Exposure for U.S. Insurers
The U.S. insurance industry faces only minimal exposure to land development companies in China as one of that country's largest property developers, Evergrande, appears on the brink of collapse. ...
Watching Canary Islands Volcanic Eruption, Insurers Reminded of Challenges Posed by Non-Modeled Perils
The ongoing eruption of the Cumbre Vieja volcano, located on the La Palma Island in the Canary Islands archipelago of Spain, is a reminder to insurers of the challenges posed by non-modeled perils," ...
Ransomware Attack Strikes U.S. TV Station Operator Sinclair
U.S. TV station operator Sinclair Broadcast Group said on Monday it had found some of its servers and workstations had been encrypted with ransomware, disrupting office networks. Sinclair said it was ...
J&J Places Talc Liabilities Into Bankruptcy Via New Subsidiary
Johnson & Johnson on Thursday put into bankruptcy tens of thousands of legal claims alleging its Baby Powder and other talc-based products caused cancer, offloading the potential liabilities into ...
Cyber Attack Financial Losses Driven by Business Interruption, Recovery Costs: AGCS Report
During the COVID-19 crisis, global cyber attacks skyrocketed in a digital pandemic driven by ransomware, according to a report published by Allianz Global Corporate & Specialty (AGCS). Further, ...
Marsh McClennan Forms Multidisciplinary Cyber Risk Analytics Center
Marsh McLennan aims to combat cyber risks with a special center that combines expertise from its multiple businesses. The newly-launched Cyber Risk Analytics Center includes experts on cyber risk ...
While Insurers Remain Wary, Scooter Providers Are Pursuing Scale to Survive
The era of breakneck growth for electric scooter firms is giving way to more selective expansion focused on profits as they face tougher regulations, more demanding customers and wary insurers. Hurt ...