Claims & Reserving
New York Regulators Urge State/Fed Cooperation on Financial Sector Cyber Defenses
New York regulators are considering a host of cyber security requirements for banks and insurers and urged other state and federal authorities to collaborate on establishing a framework of defenses ...
Nationwide: Small Business Owners Lack Cyber Prep Plans
Small business owners in the United States are a wide, untapped customer base for property/casualty insurers developing coverage to address the escalating costs of cyber attacks. A recent ...
2015 Atlantic Hurricane Season Below Average But Deadly
The 2015 Atlantic hurricane season may end up being remembered for a subpar number of storms, even though the total still beat early forecasts and more than 50 people died. The season, which also ...
Insurers Could Pay Up to $600M in Brazilian Dam Burst
Insurers covering risks for a Brazilian mine where two dams burst last week, killing at least six people, could pay up to $600 million in claims, a source with direct knowledge of the matter said on ...
A Hurricane/Cyclone/Typhoon Season to Remember Is Not Over Yet
For a few minutes last Wednesday, there weren't any hurricanes, cyclones, typhoons or tropical storms anywhere in the world. The respite didn't last long. Thursday morning, the U.S. Navy and Air ...
Takata Must Pay Up to a Record $200M Over Defective Air Bags
The Japanese maker of air bags linked to the deaths or injuries of dozens of motorists has agreed to pay a U.S. civil penalty of up to $200 million and have an independent monitor oversee the ...
Swiss Re’s Estimated Tianjin Explosion Claims Hit: $250M
Swiss Re said that the Tianjin explosion in China will leave it with an approximately $250 million claims burden, but news of the claims hit didn't mar an otherwise solid 2015 third quarter. The ...
Injury Claims Become Commodities With Litigation Funding, Claim Aggregation
For all the black robes and ceremony, the American legal system often operates more like a factory assembly line than a citadel of individualized justice. Ninety-five percent of criminal prosecutions ...