Underwriting
Developers Gain Added Protection from Terrorism-Related Lawsuits in 9/11 Case
A federal appeals court in New York has given developers and builders of high-rises and other buildings added protection from lawsuits over property losses linked to terrorism, in a case stemming ...
Hard Market Will Come; Question Is When, Swiss Re Says
In its latest sigma report forecasting profits and premium growth for insurers over the next two years, Swiss Re says the eventuality of a hard market is a given—it's just a matter of when. ...
EU Commission Fines Banks $2.3B for Benchmark Rigging
EU antitrust regulators fined six financial institutions including Deutsche Bank, Royal Bank of Scotland and Citigroup a record total of 1.71 billion euros ($2.3 billion) on Wednesday for rigging ...
Madoff Behaved Like a Lunatic Over Feeder Fund Probe, Jury Told
Bernard Madoff demanded his inner circle rush to re-create years' worth of fake account documents for a feeder fund that in 1992 attracted unwanted attention from regulators, the con man's ex-finance ...
Trial Begins for Ex-BP Engineer Who Deleted Texts
Nearly a year after energy giant BP cut a deal to a resolve a criminal investigation of its role in the worst U.S. offshore oil spill, a jury is set to hear the Justice Department's case against a ...
Carrier Disintermediation of Agencies
A multitude of forces are causing many carriers to think of ways to disintermediate agencies. Health care reform is one. Some benefits carriers have cut commissions to 0 percent and agents are still ...
Congress Should Weigh Adding Cyber Attacks to TRIA: Chertoff
The nation's lawmakers should consider adding cyber terrorism to the federal Terrorism Risk Insurance Act (TRIA) when they renew that reinsurance program, advises Michael Chertoff, former homeland ...
U.S. Terror Risk Undiminished As Terror Groups Multiply: Senator
The risk of a terrorist attack against the U.S. hasn't diminished as groups affiliated with al- Qaeda have proliferated and are developing explosive devices designed to elude detection, Senator ...