Markets
Cyber Risk Insured Losses Reached Record Levels in 2017: PCS/Verisk
Cyber risk insured losses reached $400 million in aggregate across three events in 2017, the largest annual level yet tracked by the Property Claims Services Unit of Verisk Insurance Solutions. "With ...
The Hartford Is Snatching Up Foremost’s Small Commercial Agency Biz
The Hartford has agreed to acquire Foremost Insurance's branded small commercial lines business from Farmers. Terms of the transaction were not disclosed. The Hartford said the deal will not have a ...
Workplace Romances Getting Heightened Liability Scrutiny
It happens in so many workplaces – two colleagues begin a romantic relationship. But a heightened awareness about sexual harassment means small business owners can get more anxious when employees ...
Intel Slapped With Class Action Suits Over Microchip Security Flaws
Intel Corp said on Friday shareholders and customers had filed 32 class action lawsuits against the company in connection with recently-disclosed security flaws in its microchips. Most of the ...
AXIS’ A.M. Best Outlooks Revised to Negative; Struggling Insurance Arm Blamed
AXIS Capital Holdings' money-losing insurance segment has drawn the attention of A.M. Best, which revised its outlooks for the Bermuda-based carrier to negative from stable, based largely on its ...
Catastrophe Losses Force Aspen to Cease Underwriting Property Insurance From Bermuda Platform
Aspen Insurance Holdings confirmed on Friday, Feb. 16, that it has ceased underwriting property insurance on its Bermuda platform, effective immediately, as a result of the company's 2017 catastrophe ...
Allianz Hurricane Claims Dampened Profit, but PIMCO Unit Surged
A record year for natural-disaster insurance claims worldwide and a decline in fourth quarter profit wasn't enough to stop Allianz SE from raising its dividend. Europe's biggest insurer will increase ...
Growing Drone Risks Evident in Spike of Collisions and Close Calls
Aviation regulators are investigating a flurry of collisions and close calls between consumer drones and aircraft, encounters they say pose significant risks to the flying public. Canadian ...