Markets
Update: Jamaica Catastrophe Bondholders Now Face Full-Trigger Event
Investors in Jamaica's catastrophe bond now face a full trigger event that would force payment of the entire $150 million bond to help the island deal with fallout from Hurricane Melissa. That's ...
Hurricane Melissa Makes Cuba Landfall After Lashing Jamaica
Hurricane Melissa made landfall in Cuba less than a day after it became the strongest recorded storm to strike Jamaica, where it left hundreds of thousands without power and forced hospitals to ...
GEICO, Daimler Launch Connected Insurance Program for Truck Fleets
Daimler Truck Financial Services USA LLC (DTFS), the captive finance partner of Daimler Truck North America LLC, and GEICO announced the launch of Connected Insurance, a new data-driven insurance ...
Everest Refocusing as Reserve Charge Hits Earnings; Buying $1.2B ADC
Bermuda-based Everest Group, Ltd. published three announcements yesterday—one detailing a third-quarter income decline, and others describing actions to sharpen the company's focus on its core ...
AIG to Acquire Renewal Rights of Everest’s Retail Commercial Biz Worth $2B
American International Group said yesterday that it has a definite agreement to acquire the renewal rights of Everest Group's retail commercial insurance business. Everest will focus on its ...
CyberCube: Insured Loss Estimate From AWS Outage Likely About $40M
Cyber analytics firm CyberCube said losses from the Amazon Web Services outage could eclipse $580 million. CyberCube late last week put out a preliminary global insured loss estimate of between $38 ...
Verisk Offers Insurers a Standardized Pet Insurance Program
Insurance data and technology firm Verisk has released a pet health insurance program offering U.S. insurers a standardized pet insurance program. Verisk's new ISO Pet Insurance Line of Business ...
GEICO Sues Medical Firms in Florida, NY Over Alleged No-Fault Auto Fraud
GEICO is taking aggressive action against medical firms in Florida and New York, accusing them of leading multimillion-dollar, no-fault auto insurance fraud schemes. In a lawsuit filed this month in ...