Risk
Insurance Companies Won’t be Covering Suez Shipping ‘Lost Expenses’ Costs
The owners and charterers of ships unable to sail through the the Suez Canal for nearly a week face at least $24 million in expenses they will be unable to recoup as their insurance policies do not ...
Catastrophes Cost Insurers $89 Billion in 2020: Swiss Re’s Sigma
Natural and man-made catastrophes cost the insurance industry $89 billion in 2020 – the fifth costliest year since 1970, according to a report from Swiss Re's sigma. Of that total, $81 billion ...
After Chubb’s Failed Hartford Try, Allianz Now Mulling Possible Counteroffer
Chubb Ltd.'s $23 billion takeover offer for Hartford Financial Services Group Inc. has prompted Germany's Allianz SE to study the feasibility of a counteroffer, according to people familiar with the ...
CNA Protected Its Brand With Quick Response to Cyber Attack: S&P
CNA's quick response to a cybersecurity breach that disrupted its network has helped preserve the company's brand and competitive position, Standard & Poor's concluded in a recent assessment. ...
AXA Joins $20M VC Round for Idelic, a Commercial Trucking Analytics Startup
AXA is an investor in a $20 million fundraising round for Idelic, a Pittsburgh-based InsurTech startup that produces commercial trucking analytics plus driver management products and services. ...
Draft Biden Order Compels Software Vendors to Disclose Breaches to U.S. Govt.
A planned Biden administration executive order will require many software vendors to notify their federal government customers when the companies have a cybersecurity breach, according to a draft ...
$6B-$10B Per Week in Lost Trade Possible Due to Suez Canal Blockage: Allianz
The container ship blocking the Suez Canal could cost global trade $6 billion to $10 billion a week, a study by German insurer Allianz showed on Friday. The study by Europe's biggest insurer also ...
Pie Insurance Raises $118M From Allianz and More
Pie Insurance has pulled in $118 million in new funding, with the workers compensation provider attracting financing from Allianz and others. Executives at the Denver-based InsurTech will use the ...