Global Economy
Insurers/Reinsurers Fail to Adequately Cover Global Terrorist Threats: JLT
The re/insurance industry is failing to respond to the growing global terrorist threat with products that meet the needs of their clients, according to a report published by JLT Re and JLT Specialty ...
ACP Re’s Late Financials Lead to A.M. Best Review with Negative Implications
ACP Re Ltd., a Bermuda reinsurance company with multiple property/casualty subsidiaries, is finding its A.M. Best ratings under review with negative implications. A.M. Best said the "under review ...
PartnerRe Adds ‘CEO’ to Company President’s Title
PartnerRe, now owned by Italian investment firm EXOR after a $6.9 billion acquisition, has added "CEO" to company president Emmanuel Clarke's title. The Bermuda-based reinsurer said that Clarke will ...
Low Catastrophes, High Reserve Releases Mask Reinsurance Industry Weakness
Weak business conditions in the reinsurance industry are being masked by a low level of catastrophes and a high level of reserve releases, said Standard & Poor's Ratings Services and Fitch ...
VW Faces April 21 U.S. Deadline for Diesel Cheat Fix
Volkswagen AG hasn't finished a plan for getting 600,000 diesel vehicles off U.S. roads as it faces hundreds of lawsuits for rigging pollution control systems to cheat emissions tests. U.S. District ...
Whistleblower Sues Abbott for $1 Billion in Trial Over Stent Marketing
Abbott Laboratories is accused in a trial that started Tuesday of marketing unapproved stents for unsuspecting patients and cheating Medicare, as a whistleblower seeks more than $1 billion, a risk ...
Plunging Oil Prices Proportionate to Higher Commercial Losses: Marsh
Plunging crude oil prices in recent months may be great news for consumers, but the trend could lead to increased losses for commercial insurers as their clients scramble to cut costs, Marsh asserted ...
Executives On The Move at QBE, CNA, Chubb and Talbot Underwriting
Both QBE North America and CNA snagged ex-Chubb executives for key roles. Meanwhile, Chubb beefed up its transactional risk leadership team to help facilitate more M&A deals. Talbot Underwriting ...