Risk
AIG Launches $1B Rail Catastrophe Policy
American International Group Inc., the largest commercial insurer in the U.S. and Canada, introduced a policy to help railroads handle losses from catastrophic accidents as more crude oil is shipped ...
XL Group’s Reinsurance Head is Retiring
There's a big executive change coming at XL Group plc: the head of its Reinsurance division will retire at the end of 2014. XL Group, a global insurance and reinsurance company, said it has already ...
Massive Typhoon Hurtling Toward Japan
The strongest tropical system the Earth has produced in almost a year is now churning in the Pacific Ocean on a track toward Japan. Super Typhoon Vongfong's exact strength may never be known. ...
Bond Insurer MBIA Hit By Data Breach; Wide Net of Damage Likely
Bond insurer MBIA was told two weeks ago about a server breach that compromised the data of thousands of local U.S. government entities, but it did not address the problem until earlier this week, ...
Aon Benfield: India, Pakistan Flooding 2014’s Costliest Weather Event So Far
The costliest weather event so far 2014 involved torrential monsoon rains and catastrophic flooding in India and Pakistan in September, Aon Benfield concluded in a new report. The firm's September ...
Cyber Insurance Market Will Surge, Lloyds CEO Predicts
Lloyd's of London Chief Executive Officer Inga Beale expects the market for cyber insurance to surge after hackers attacked some of the largest companies in the U.S., including JPMorgan Chase & ...
Allied World Grabs Blue Vista Stake
Allied World Assurance Co. agreed to take a stake in private-equity firm Blue Vista Capital Management LLC in a push into real estate investing. The insurer will also invest $225 million of its ...
Practical ORSA Solutions for Challenged Insurers
After much anticipation, Own Risk and Solvency Assessment (ORSA) initiatives are now underway worldwide—taking effect in 2014 in Canada and 2015 in the United States, with similar initiatives ...