Commercial Lines
Third Point Re CEO Equates M&A Practice With Failed Marriages
Third Point Reinsurance Ltd., co-founded by hedge-fund manager Dan Loeb, likened the risk of mergers and acquisitions to picking a spouse without being aware of how much can go wrong. "Just like ...
U.S. Regulators Urge Banks to Boost Cyber Security Standards
U.S. bank regulators on Wednesday outlined cyber security standards meant to protect financial markets and consumers from online attacks against the nation's leading financial firms. Leading banks ...
Executives On The Move at CNA, JLT Re, RSA and XL Catlin
CNA brought on a Chubb veteran to help run its Global Services arm. JLT Re hired a new executive to lead and build up its South Korea operations. RSA named a new group pricing director. XL Catlin has ...
Allstate Debuts Revamped Commercial Insurance Quoting Platform; Pledges Policy in 5 Minutes
Allstate debuted a revamped commercial insurance quoting platform that it said will help small business owners buy a policy in about 5 minutes. Allstate's move comes with the emergence of InsureTech ...
French Utility Boosts Defense of Water Supply From Cyber Security Risk
Veolia Environnement SA, the French utility that provided drinking water to 100 million people last year, has beefed up cyber security to protect installations from hackers. "Cyber crime is the main ...
Hurricane Matthew Damage Won’t Harm Most Insurer Ratings: A.M. Best
A.M. Best does not anticipate a significant number of rating actions related to Hurricane Matthew, as most rated insurance carriers have sufficient capital and appropriate reinsurance programs in ...
Slow Canadian Wildfire Insurance Payments Spur Anger in Burnt-Out City
Some five months after the wildfires that devastated Fort McMurray were extinguished, anger over red tape and the slow pace of insurance payouts and permit issuance is flaring in the remote northern ...
VW Pursues Final Approval of $14.7B Emissions Deal; Vehicle Fix Still Pending
Volkswagen AG is asking for a final sign-off on its $14.7 billion settlement with drivers as it continues to seek regulators' approval of a fix for 482,000 pollution-spewing vehicles still on U.S. ...