Personal Lines
U.S. Southwest Anticipates Flooding From Hurricane Odile
A week ago, Hurricane Norbert pumped tropical moisture across the U.S. Southwest, touching off record rainfall in Phoenix and Tucson that killed at least two people, flooded hundreds of homes and ...
ACP Re/Tower Group Merger Deal Finally Closes
After months of uncertainty, the merger of ACP Re Ltd. and struggling reinsurer Tower Group International has finally closed. Bermuda-based ACP Re and Tower announced on Sept. 12 that all regulatory ...
Moody’s at Monte Carlo: Reinsurers Pushing into Primary Insurance
Reinsurers are seeking to push into the primary insurance market ranging from life to property coverage to shore up growth, said Moody's Investors Service. "We expect more mergers and acquisitions," ...
Florida’s Reborn Home Insurance Market Unproven in Major Hurricane
As Florida seeks to revive its private home insurance market after almost a decade without a hurricane, homeowners are pouring $6 billion a year in premiums into a new generation of small, in-state ...
Major Storms Brewing in Both the Atlantic and Pacific
Tropical Storm Odile may become a hurricane tomorrow as it stays off Mexico's west coast, while tropical depressions formed in both the Atlantic and Pacific, the U.S. National Hurricane Center said. ...
Allstate Hopes Timber, Real Estate will Boost Struggling Annuity Unit
Allstate Corp. is betting on timber and real estate to boost returns at a struggling annuity unit. "We do need to figure out what we do with our annuity business," Chief Executive Officer Tom Wilson, ...
Hedge Funds Shut Out Nonprofits in FHA Sale of Distressed Loans
The U.S. Federal Housing Administration started selling distressed loans in 2012 to help communities hit hard by foreclosures while also reducing losses to its taxpayer-backed insurance fund. Two ...
Americans Worry About Risks Caused by Drones: Chubb
Most Americans are worried that the increased use of drones in the U.S. could damage property, cause injury and create other new risks, the Chubb Group of Insurance Companies determined in a new ...