Markets
U.S. Flood Insurance Market Slowly Transitioning to Private Carriers: AM Best
The country's flood insurance market is slowly transitioning toward private insurers providing additional options to the federal government's program for those seeking coverage, according to a new AM ...
Key Generali Committee Reportedly Backs Keeping Donnet as CEO
Generali's appointments committee recommended that the board finalize a slate of nominees for its renewal keeping Philippe Donnet as CEO for another term, three sources close to the situation told ...
Executives On The Move at Arch, SiriusPoint and Aviva
Arch Insurance International has appointed a new General Counsel. Global specialty insurer/reinsurer SiriusPoint Ltd. named a new Chief Actuary. UK insurer Aviva promoted a veteran executive to the ...
Fearing Evergrande Effects, China’s Lenders, Insurers Halt New Credit
As fears of contagion from any default by China Evergrande Group mounted this month, some Chinese banks, insurers, and shadow banks stopped offering new credit to property developers, and ran urgent ...
Reinsurers’ Estimates of Climate Risk Exposure Could Be Way Off: S&P
Reinsurers' estimates of their exposure to natural catastrophe risk could be underestimated by 33%-50%, according to a report published by S&P Global Ratings. "Unmodeled risks and the inherent ...
Judge Sends Cincinnati Insurance COVID Coverage Question to Jury
A federal judge in Kansas City has cleared a restaurant group's COVID-related business interruption claim for jury trial, holding that an 8th Circuit Court decision that found no coverage was owed in ...
CEO Viewpoint: Seeing the Light Through the Mountain of Paper
Imagine explaining the concept of insurance to an alien. After the end of the elevator pitch, I guarantee they would think it was a pretty cool idea. At its heart, insurance is a simple and great ...
Biden Administration Fights Ransomware Attacks by Targeting Cryptocurrency Pipelines
The Biden administration plans a fresh campaign against ransomware attacks through sanctions to cut off criminals' cryptocurrency pipelines, and it urged companies to report extortion attempts and ...