Government
In Venezuela, Oil Price Plunge Makes Debt Insurance Costs Soar
The cost for insuring Venezuelan sovereign debt against default or restructuring surged on Wednesday as global oil prices swooned to a 27-month low before rebounding, illustrating rising investor ...
Tropical Storm Vongfong Hits Japan
Tokyo residents were warned of violent winds and flooding as Tropical storm Vongfong headed northeast toward Japan's main island of Honshu, injuring dozens and causing power outages. The storm packed ...
Bond Insurer MBIA Hit By Data Breach; Wide Net of Damage Likely
Bond insurer MBIA was told two weeks ago about a server breach that compromised the data of thousands of local U.S. government entities, but it did not address the problem until earlier this week, ...
Willis Gains Swedish OK for $205M investment in Max Matthiessen
Willis Group Holdings plc said it's gotten a pivotal O.K. from Swedish regulatory authorities to complete its acquisition of a 75 percent stake in Max Matthiessen, a personal insurance, health plan ...Geithner: AIG’s Collapse Could Have Triggered Global Mass Panic
The failure in 2008 of American International Group Inc., the world's biggest insurer, would have caused "mass panic on a global scale," Timothy Geithner, the head of the Federal Reserve Bank of New ...
Watchdog Group Warns Arctic Shipping Safety Not Assured
Canada will have trouble ensuring marine safety in the Arctic as climate change melts the sea ice and shipping increases, Parliament's environmental watchdog said on Tuesday. Canada, said Environment ...
Swiss Re Predicts a Rise in Liability Claims as Economic Growth Accelerates
Liability claims have been lower than expected in recent years, which has boosted insurers' profits despite a decline in liability rates. But new risks and stronger economic growth will increase ...
How Insurers Gain ‘Systemically Important’ Status May Be Tweaked
The U.S. top financial risk council may tweak the way in which it identifies insurers and other companies that are not banks as systemically important, a process the industry and politicians have ...