Underwriting
Iranian Hacking of U.S. Targets Was Widespread: Federal Prosecutors
Hackers linked to the Iranian government launched cyber-attacks on some four dozen U.S. financial institutions and a flood-control dam north of New York City in forays meant to undermine U.S. markets ...
Insurers/Reinsurers Fail to Adequately Cover Global Terrorist Threats: JLT
The re/insurance industry is failing to respond to the growing global terrorist threat with products that meet the needs of their clients, according to a report published by JLT Re and JLT Specialty ...
ACP Re’s Late Financials Lead to A.M. Best Review with Negative Implications
ACP Re Ltd., a Bermuda reinsurance company with multiple property/casualty subsidiaries, is finding its A.M. Best ratings under review with negative implications. A.M. Best said the "under review ...
PartnerRe Adds ‘CEO’ to Company President’s Title
PartnerRe, now owned by Italian investment firm EXOR after a $6.9 billion acquisition, has added "CEO" to company president Emmanuel Clarke's title. The Bermuda-based reinsurer said that Clarke will ...
Low Catastrophes, High Reserve Releases Mask Reinsurance Industry Weakness
Weak business conditions in the reinsurance industry are being masked by a low level of catastrophes and a high level of reserve releases, said Standard & Poor's Ratings Services and Fitch ...
Whistleblower Sues Abbott for $1 Billion in Trial Over Stent Marketing
Abbott Laboratories is accused in a trial that started Tuesday of marketing unapproved stents for unsuspecting patients and cheating Medicare, as a whistleblower seeks more than $1 billion, a risk ...
Plunging Oil Prices Proportionate to Higher Commercial Losses: Marsh
Plunging crude oil prices in recent months may be great news for consumers, but the trend could lead to increased losses for commercial insurers as their clients scramble to cut costs, Marsh asserted ...
Chubb Launches Service to Help Combat Ransomware Attacks
Chubb on Tuesday announced the launch of a service to assist policyholders following ransomware attacks, the first new offering from its Global Cyber Risk Practice since Chubb was acquired by ACE in ...