Risk
Nomura Will Pay $480M to Resolve Claims Over Mortgage-Backed Securities
Nomura Holdings Inc has agreed to pay $480 million to resolve civil claims by the U.S. government that it misled investors in marketing residential mortgage-backed securities, U.S. authorities said ...
Google Invests in Applied Systems, a Maker of Cloud-Based Software for Independent Agencies
Google's investment arm has purchased a minority stake in Applied Systems, an Illinois-based global provider of insurance technology and cloud-based software for independent agencies. Google has ...
New U.S. Law Places Greater Focus on Disaster Resilience, Though Shortfalls Remain
The U.S. government is starting to focus more on disaster resilience, rather than just responding to natural catastrophes when they occur – something long called for by the property/casualty ...
California Utility Shuts Power for 60,000 People to Prevent Wildfires
PG&E Corp. has deliberately left customers in the dark for the first time as a precaution to prevent wildfires from breaking out. Almost 60,000 customers in six counties across the Sierra Nevada ...
Bank of England Urges Insurers, Financial Institutions to Form Credible Climate Change Plans
Britain's banks and insurers must come up with credible plans for protecting themselves against risks from climate change and may need to hold more capital, the Bank of England said on Monday. ...
Report: China Encourages Its Insurers to Help Address Share-Backed Loan Risks
China is encouraging insurers to invest in listed companies and help cut liquidity risks connected with the pledging of firms' shares to secure loans, the China Securities Journal reported on ...
Philippines Explores Plan to Sponsor Catastrophe Bond Issue
The Philippines' finance ministry said on Sunday it was exploring a plan to sponsor a catastrophe bond issue, similar to the one launched by the World Bank early this year covering Latin American ...
$25 Billion: Estimated Economic Losses Caused by Hurricane Michael
Hurricane Michael will probably end up causing at least $25 billion in economic losses. About $3 billion of that will fall on the federal flood insurance program and private insurers may get hit with ...