Government
South Korea Nuclear Power Data Leak Spurs Investigation
Seoul prosecutors have launched an investigation into a leak of non-critical data at South Korea's nuclear power operator, the prosecutors' office said on Sunday, as worries mount about nuclear ...
Obama: Sony Pictures’ Hacking an ‘Act of Cyber Vandalism’
The hacking of Sony Pictures Entertainment's computer system was "an act of cyber vandalism" that requires the U.S. to "respond proportionately," President Barack Obama said. The U.S. has linked the ...
Standard & Poor’s, A.M. Best, Downplay Initial Impact of TRIA’s Demise
Many insurers and businesses argue the absence of federal terrorism reinsurance beginning in 2015 could lead to a market breakdown and canceled coverage. But in the wake of Congress's inability to ...
China Establishes Debut Insurance Fund for $2.1 Trillion Trust Industry
China on Friday set up its first insurance fund for its $2.1 trillion trust industry in a move to reduce financial risk in shadow banking, the country's banking regulator said. The fund, jointly ...
Farmers Mutual Hail Will Buy Deere’s Crop Insurance Unit
Deere & Co., the world's largest manufacturer or agricultural machinery, agreed to sell its crop insurance segment to Farmers Mutual Hail Insurance Co. of Iowa, retreating from a business that ...
New York to Ban Fracking After Health Department Calls It Unsafe
The New York state Health Department said fracking for natural gas can't be done safely, dooming prospects that Governor Andrew Cuomo will end a six-year moratorium. Acting Health Commissioner Howard ...
With TRIA Renewal Efforts Killed, Some Predict Market Chaos
Property/casualty insurance industry groups, business associations and observers alike were quick to condemn the death of TRIA renewal for 2014. Without federal terrorism reinsurance in place for ...
TRIA Renewal Efforts Appear Dead for 2014
A U.S. program that backstops insurance companies' losses from acts of terrorism is set to end after the Senate didn't extend it. Efforts to reauthorize the Terrorism Risk Insurance Act for six years ...