Global Economy
Swiss Re Expects Approximately $1 Billion in Q4 Cat Claims
Swiss Re estimates it will pay claims of approximately $1 billion for natural catastrophes booked in the fourth quarter of 2018, with the largest generated from California wildfires and Hurricane ...
U.S. Slaps Charges Onto Several, Alleging SEC Hacking Scheme
U.S. authorities on Tuesday charged several individuals and companies in a scheme to trade on information in nonpublic corporate press releases by hacking into a U.S. Securities and Exchange ...
Moody’s Boss Fired for Retaliating Against Female Co-Worker Wins $1.8M, Job Back
A Moody's Corp. managing director fired for lashing out at a junior co-worker who criticized his team's work won his Paris job back and a 1.6 million-euro ($1.8 million) payout. Moody's French unit ...
Executives On The Move at Chubb, RLI and OneBeacon
A newly promoted Chubb executive gains additional responsibilities in the Asia Pacific region. OneBeacon Insurance Group has a new president of its Management Liability business unit. RLI Corp. ...
Alphabet Board Sued, Accused of Allegedly Covering Up Sexual Misconduct Claims
Two shareholder lawsuits filed this week accused the board of Google parent Alphabet Inc. of playing a direct role in covering up sexual misconduct claims against two former executives over the last ...
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 ...
Opinion: Calling Out Cyber Attackers Could Give Insurers Reason to Deny Claims
The $100 million lawsuit that Mondelez, the maker of Oreos and Cadbury chocolate, has brought against Zurich Insurance Group shows that governments should be more careful about identifying the ...
Global Reinsurance Capital Remains Resilient Despite Huge Cat Losses: Aon
Global reinsurance capital – comprising traditional and alternative capital – fell 2 percent in 2018 to $595 billion from $605 billion in 2017, remaining resilient in the face of insured natural ...