Claims & Reserving
Corporate America Already Planning for Climate Change Challenges, Business Interruption Risks
Bank of America Corp. worries flooded homeowners will default on their mortgages. The Walt Disney Co. is concerned its theme parks will get too hot for vacationers, while AT&T Inc. fears ...
Travelers Seeking Higher Premiums in California After Two Years of Fire Losses
California's deadly wildfires are raising the specter of higher insurance premiums for homeowners in the state. After "two significant years in a row of losses, I think the discussion and the debate ...
Chubb Estimates $585M in Q4 Pretax Cat Losses
Chubb disclosed an estimated $585 million in net catastrophe pretax losses for the 2018 fourth quarter, stemming mostly from storms and wildfires. After tax, those catastrophe losses totaled $505 ...
Hedge Fund Baupost Reported to Hold $1 Billion in PG&E Insurance Claims
Seth Klarman's Baupost Group has been the poster child of the hedge fund industry's ill-timed stock-market bets on the troubled utility PG&E Corp., which announced plans for bankruptcy. It turns ...
Failure to Reduce Climate Change Is Among Top Global Risks: WEF
The risk that global efforts to tackle climate change will fail has risen despite concerns about powerful storms, floods, and droughts, a survey released by the World Economic Forum said on ...
‘Potentially Crushing’ Wildfire Liabilities Force California Utility to Prepare Bankruptcy Filing
PG&E Corp, owner of the biggest U.S. power utility by number of customers, said on Monday it is preparing to file for Chapter 11 bankruptcy for all of its businesses as it faces potentially ...
Brexit Uncertainty Leads to Shrinking Demand for Britain’s Financial Sector
Uncertainty over Brexit and the economy have led demand for Britain's financial services to shrink for the first time in five years, with no immediate sign of an improvement, a survey by business ...
Iran Suspected Culprit Behind Hack Attacks on Govt., Communications Infrastructure
Cyber attackers in Iran could be behind a wave of hacks on government and communications infrastructure that will require a coordinated global response to repel, according to cybersecurity firm ...