Global Economy
Lloyd’s CEO Neal Pledges to Halve Costs in Modernization Push
Lloyd's of London plans to halve the cost of buying insurance through the 330-year-old market as part of a strategy to restore the fortunes of the company. Chief Executive Officer John Neal said he ...
Norsk Hydro Reports $52M in Cyber Attack Costs for Q1
Norsk Hydro said the March cyber attack that paralyzed its computer networks would cost the aluminum maker up to 450 million Norwegian crowns ($52 million) in the first quarter. The Oslo-based firm, ...
Boeing Sued by Two Families Alleging Negligence in Ethiopa 737 Max Crash
Boeing Co. was sued Monday by two Canadians who lost 10 family members in the March crash of a 737 Max in Ethiopia, adding to the aircraft manufacturer's legal woes stemming from two deadly crashes ...
The Latest Launches From Coalition, Brit Ltd. and AXA XL
Coalition has started marketing comprehensive coverage for healthcare companies. Brit Ltd. beefed up coverage options for one of its key cyber products. A division of AXA XL debuted its ...
CNA’s Net Investment Income and Premiums Rise; P/C Combined Ratio Spikes
Catastrophe losses drove CNA Financial Corp.'s property/casualty and commercial division combined ratios higher in the first quarter, though the insurer saw its net income rise slightly as investment ...
Catlin Founder and Some of His Old Colleagues Launch a New Specialty Insurer/Reinsurer
Insurance industry veterans Stephen Catlin and Paul Brand announced they have launched an international specialty insurer and reinsurer, Convex Group Ltd. Convex launches with $1.8 billion of initial ...
Organizations Cite Economic Slowdown, Reputational Damage as Top Risks: Aon
Economic and global trade concerns are challenging organizations' ability to invest adequately in preparing for and protecting the continuity of their operations, according to findings from Aon's ...
In a First, D.C. Eyes Retrofitting or Removing All Flood-Prone Buildings by 2050
Washington is announcing a goal of retrofitting or removing all of its flood-prone buildings by 2050, the first major U.S. city to set such a policy. The proposal is part of a broader plan to protect ...