Global Economy
Global Average Annual Disaster Losses Could Surpass $200B in 10 Years: AIR Worldwide
The global insurance industry can currently expect a long-run annual average loss of $106 billion and a greater than a 40 percent chance of experiencing an annual loss of more than $200 billion in ...
Proposed Global Minimum Tax Could Lead to Double Assessment for Some Insurers: AM Best
Given the accounting differences for global insurance companies in different jurisdictions, a new global minimum tax on certain multinational companies creates the potential for double taxation for ...
Chubb’s Q3 Net Income Jumped 58 Percent, Driven by ‘Outstanding’ Premium Revenue
Chubb's Q3 net income soared more than 58 percent year-over-year, as premium gains continued their double-digit climb. "Chubb had a very strong third quarter, highlighted by outstanding premium ...
Hack Attack Response: U.S. State Department to Create Cyber Bureau
The U.S. State Department plans to establish a bureau of cyberspace and digital policy in the face of a growing hacking problem, specifically a surge of ransomware attacks on U.S. infrastructure. ...
AIG Makes Leadership Changes as It Readies Separation of Life & Retirement Business
American International Group made a number of senior leadership changes intended to aid in the separation of its Life & Retirement business and other strategic priorities. Among the biggest ...
Global Commercial Insurance Rates Rose 15 Percent in Q3: Marsh
Global commercial insurance prices increased 15% in the third quarter of 2021, which was the same rate of increase recorded in the previous quarter, according to the Global Insurance Market Index ...
New Russian Cyber Attack Targeted Hundreds of U.S. Networks: Microsoft
The Russian-based agency behind last year's massive SolarWinds cyberattack has targeted hundreds more companies and organizations in its latest wave of attacks on U.S.-based computer systems, ...
At ITC Vegas 2021: Elation, Hugs and Handshakes After Two Long Years
After a year-and-a-half of mostly conducting business by way of Zoom calls, webinars and an endless flow of digital notifications, insurance professionals and entrepreneurs were eager to see one ...