Markets
Solving Financial System Cybersecurity Challenges Won’t Happen With Regulation: Fed Official
More rules may not be the best answer to protecting the financial system against cyber attacks, a Federal Reserve official said. "I don't think the solution to the cybersecurity problem rests in ...
China Taiping Insurance Group Wants to Buy $1.3B Hong Kong Tower
A unit of state-owned China Taiping Insurance Group is in advanced talks to acquire a newly built office tower in Hong Kong from Henderson Land Development Co., according to people with knowledge of ...
Every insurer evaluating property risk today is running the same math: more perils, more models, more data sources, and not...
U.S. Flood Insurance Reform Gets SmartSafer Lobbying Push
The latest attempt to overhaul the U.S. federal flood insurance program hit a stumbling block, but a coalition of business and environmental groups renewed their push on Wednesday for lawmakers to ...
AmTrust’s Financial Plans Earn A.M. Best Ratings Review With Negative Implications
AmTrust Financial Group's recent efforts to raise capital and stabilize its finances apparently aren't enough for A.M. Best, which placed the company's credit and financial strength ratings under ...
Whistleblowers Delay Reporting Fraud If Financial Reward Promised: Study
Financial awards can unintentionally discourage a whistleblower from reporting fraud in a timely manner by hijacking their moral motivation to do the right thing, according to a new study by ...
Zurich, in Cost-Cutting Move, Will Transfer German Legacy Malpractice Book to Catalina
Zurich Insurance Group said it will transfer its German legacy medical malpractice book to Bermuda-based Catalina for an undisclosed price. The portfolio represented $450 million of reserves as of ...
AIG Names New Division Leaders for Lexington Insurance, North America General Insurance
American International Group recently made two new major domestic executive appointments: Lex Baugh is AIG's new chief executive officer, North America General Insurance, and George Stratts has been ...
Allianz Touts Successful Test of Blockchain Tech for Captive Insurance Program
Allianz Global Corporate & Specialty SE (AGCS) has successfully tested blockchain technology for a global captive insurance program, which facilitates cash transfers between countries. AGCS's ...