Government
Swiss Re: Food Contamination Liability Costs are Surging
Liability costs involving food contamination are soaring, and a globalized supply chain has made risk management much more challenging, Swiss Re found in a new report. Among the findings: the number ...
Iran Accord Would End Sanctions on Reinsurance and Other Industries
Iran and world powers reached a historic accord designed to prevent the Islamic Republic from developing nuclear weapons in return for ending sanctions that have crippled the nation's economy and ...
Warren Buffett Could Gain From Efforts to Weaken New Train Safety Rule
Billionaire investor Warren Buffett is set to be a chief beneficiary of a bid by Senate Republicans to weaken new regulations to improve train safety in the $2.8 billion crude-by-rail industry, a key ...
Bermuda Adopts Solvency II ‘Equivalency’ Measures
A bulletin from Bermuda notes that the island's parliament took regulatory action this week to align its regulatory insurance procedure. The goal: recognition by the European Commission as being ...
Eurozone Insurers Can Withstand Greece’s Instability: A.M. Best
The impact of Greece exiting the eurozone is likely to hit market confidence in the region, although insurers and reinsurers operating in the economic bloc are well positioned to withstand a ...
Hackers, Hitting U.S. Govt., Stole Personal Data From 22.1 Million People
Hackers stole Social Security numbers and other personal data for about 22.1 million people in breaches of the U.S. government's personnel office, the Obama administration said. The total includes ...
Bank of England to Give December Verdict on Solvency II Insurer Risk Models
The Bank of England will issue its verdict in December on the models insurance companies use to quantify risk and determine capital requirements as the industry prepares for the new European Union ...
Texas Court Approves $84.4M Settlement in 2002 Farmers Insurance Case
A Travis County, Texas district court has granted preliminary approval of a settlement with Farmers Insurance Group that will return $84.4 million to policyholders stemming from a 2002 homeowners ...