Markets
Ex-Allstate Employees Awarded $27M in Defamation Lawsuit Verdict
A federal jury has awarded more than $27 million to four former Allstate employees who sued the insurer for defamation. The Chicago Tribune reported the employees worked for a now-defunct equity ...
Carriers Losing Sight of Traditional Cat Risk Exposures: AIR Worldwide CEO
Novel risks of the digital age are not the only ones that property/casualty insurance industry executives should be worried about as they seek to manage insurance and reinsurance portfolios, the ...
Treasury Officials Want Some Terrorism Premiums Retained for Future Claims
The federal terrorism risk insurance program "remains an important mechanism" for ensuring that terrorism risk insurance is available and generally affordable, the U.S. Treasury Department concludes ...
New Brexit Fallout: Bank of England Eases Bank Rules
Mark Carney pledged to shore up financial stability as he warned that the risks from Britain's shock decision to leave the European Union have started to crystallize. "There is the prospect of a ...
Rail Industry Isn’t Getting ‘Driverless’ Tech Anytime Soon
Peter Mills sees an inconsistency. One arm of the U.S. Department of Transportation is recommending two-person crews be required for freight trains as another plans to spend billions to help develop ...
Two U.S. Funds Sue Multiple Banks Alleging Singapore Rate Rigging
Two U.S.-based investment funds have filed a lawsuit in New York against dozens of banks accusing them of conspiring to rig derivative prices incorporating Singapore interest rate benchmarks, a court ...
ACP Re Pulls Out of A.M. Best Ratings Process After Downgrade
ACP Re's late filing of financial statements earlier in 2016 has left the Bermuda reinsurance and its multiple property/casualty subsidiaries in rough straits with A.M. Best. The ratings agency ...
Bermuda Market Leaders Assert Their Region is a Post-Brexit Haven
Four leaders of Bermuda market groups quickly issued statements last week to allay any fears that the fallout from the UK's Brexit vote would hit their market as well. "In a global economy, Bermuda ...