Markets
Why Many Californians Take Their Chances Without Earthquake Insurance
During Sunday's 6.0 magnitude earthquake, some $75,000 worth of bottles of wine, rum and whiskey flew off the shelves of Aiyaz Masani's liquor store in Napa, California. He estimates about half his ...
Tower Group Dealt More A.M. Best Ratings Downgrades
Tower Group International must deal with more ratings downgrades from A.M. Best, spurred by its soaring net losses and uncertainty over whether it can carry its debts through an intended merger with ...
USAA Names New CEO From Within
USAA, the insurance and financial services giant, has named a longtime internal executive with experience running its property/casualty arm as its next CEO. Stuart Parker becomes USAA's new chief ...
JPMorgan, Other Banks Focus of Latest Cyber-Attack
JPMorgan Chase & Co., the biggest U.S. bank, said it increased defenses against computer hackers after an attack against the industry this month. The lender is working with U.S. authorities to ...
Hurricane Forecaster Favors Brief and Ugly Storms
When it comes to Atlantic hurricanes, brief and ugly is beautiful, at least to Phil Klotzbach, lead author of Colorado State University's seasonal storm forecast. That's because a ragged-looking ...
Dire Cancer Prognosis Sped Up Benmoshe’s AIG Departure
Robert Benmosche, who is stepping down this weekend after five years as American International Group Inc.'s chief executive officer, said he learned in May that he had nine months to a year to live. ...
Enstar to Pay $218M For South Carolina P&C Company
Bermuda-based Enstar Group Ltd. said it will grab Companion Property and Casualty Insurance Company from Blue Cross Blue Shield of South Carolina for $218 million. The deal represents an expansion of ...
Governments Provide Reinsurers a Major Market Opportunity: S&P
Reinsurers have a potential major market at their fingertips: Working with governments to boost their disaster resilience. Standard & Poor's Ratings Services draws that conclusion in a new ...