Underwriting
Hurricane Joaquin’s Emergence Creates Massive East Coast Risk Potential
The weather outlook for the eastern U.S. is starting to resemble the plot of a 1970s disaster movie in which everything that could go wrong did. From the mid-Atlantic to the Northeast, the coastal ...
Florida’s Heritage Insurance Grabs Hawaii’s Zephyr for $120M
Two Florida-based property casualty insurers are pursuing expansion plans, following an M&A deal by a third instate rival to do the same. Heritage Insurance Holdings said it has agreed to snatch ...
Insurers Face Major Exposure to Climate Change Risks: Bank of England Governor
Bank of England Governor Mark Carney said UK insurers face potentially "huge" exposure to shifts in climate-change policy and Group of 20 nations need to do more to combat associated financial ...
Russian National Sentenced in ‘Citadel’ Malware Cyber Crime Scheme
A Russian national was sentenced on Tuesday to 4-1/2 years in U.S. prison for using sophisticated malware known as "Citadel" to steal banking information from thousands of computers, authorities ...
Lloyd’s Chairman Nelson Faults Businesses for Too Much Focus on Profit
Lloyd's of London Chairman John Nelson criticized the business community, saying companies are too focused on profit and are at risk of eroding the trust of the public and regulators. Nelson, ...
Warren Buffett Reduces Holdings of Munich Re Shares
Berkshire Hathaway Inc. and National Indemnity Company stated their shareholdings in Munich Re have fallen below the threshold of 10 percent of voting rights — and now are at 9.7 percent. In an ...
UPC Insurance to Grab Interboro Insurance For $57M
United Insurance Holdings Corp. (UPC Insurance) will pay $57 million for Interboro Insurance Company, a regional property/casualty insurer licensed to operate in four states and Washington, D.C. The ...
Why Build Your Own Cat Model?
Insurers are using the new open loss modeling platforms to build their own catastrophe models for three main reasons: clarity, control and cost. Catastrophe models have become extremely important ...