Global Economy
Travelers Head Toward Cancellation Mode as Omicron Emerges
Some would-be travelers are considering canceling or delaying trip plans in response to fresh curbs prompted by the Omicron variant of the coronavirus, travel agents said on Monday, threatening an ...
As COVID Spread, European P/C Insurers Took Hits but Remained Resilient: AM Best
European property/casualty insurers faced a dip in total average gross written premium and after-tax profit in 2020, but their regulatory solvency ratios remained strong. Pandemic factors generally ...
Generali in Early Discussions About Possibly Buying Credit Agricole Subsidiary
Assicurazioni Generali SpA is in early talks on a possible takeover of Credit Agricole subsidiary La Medicale, as part of plans to expand in European non-life and health insurance businesses, ...
Lloyd’s, Travelers, Other Insurers Lose in JPMorgan Appeal Over Bear Stearns Settlement
New York's highest court ruled on Tuesday that JPMorgan Chase & Co is entitled to insurance coverage for $140 million of a U.S. Securities and Exchange Commission settlement with the former Bear ...
Cyber Insurers Now Requiring Security Steps Along With Higher Premium
Insurers are continuing to take a hard line on underwriting and pricing cyber coverage. While commercial lines prices overall rose 8.9% in the third quarter, cyber premiums increased 27.6%, according ...
U.S. Govt. Wants Appeals Court to Immediately Lift Stay on COVID Workplace Vaccine Rule
The U.S. government asked a federal appeals court to immediately lift a court-ordered stay on a sweeping workplace COVID-19 vaccine rule to avoid "enormous" harm to public health, or alternatively to ...
Former Lloyd’s CEO Beale Joins Willis Towers Watson Board as Part of Activist-Spurred Revamp
Willis Towers Watson PLC , which has been under pressure from activist investor Elliott Management, appointed four new directors on Thursday as it looks to turn around its business following a ...
P/C Carriers’ Increased Reliance on Reinsurance Means Premium Hikes are Coming
American International Group Inc. and other insurers avoided steep losses from a spate of extreme weather this year thanks in part to the reinsurance industry. But increased reliance on those ...