Industry News
As Firms Ratchet Up IT Security, Data Breaches Remain Unstoppable
With hackers stealing tens of millions of customer details in recent months, firms across the globe are ratcheting up IT security and nervously wondering which of them is next. The reality, cyber ...AIG Mulling Big Expansion of Massive Share Repurchase
American International Group Inc., the largest commercial insurer in the U.S. and Canada, said it may repurchase as much as an additional $2 billion of common stock after selling its aircraft-leasing ...
The Worst Hurricanes Won’t Start Striking Until September, SNL Warns
As far as hurricane season goes, the worst is yet to come, SNL Financial concluded in a recent report. Simply put, while the season officially began on June 1, the worst hurricanes often don't make ...
Travelers CEO Jay Fishman Crows About Big Returns vs. Banks
Travelers Cos. Chief Executive Officer Jay Fishman highlighted the insurer's history of posting better returns than banks and other large financial companies amid a period of increased Wall Street ...
P/C Carriers Could Counter Hailstorms With More Reinsurance: RMS
Now that hailstorms are no longer "attritional perils" and are much more widespread than they used to be, property/casualty insurers could benefit from adding reinsurance for these threats, an RMS ...
New Bugs Found in Web Encryption Software Behind ‘Heartbleed’ Threat
Security researchers have uncovered new bugs in the Web encryption software that caused the pernicious "Heartbleed" Internet threat that surfaced in April. Experts said the newly discovered ...
Germany Will Impose Tough Fracking Restrictions
Germany plans to draw up new rules in the coming weeks for the controversial method of fracking for gas, which will impose tight restrictions on the technique that has led to a shale gas boom in the ...
Aon: Storms Packed a Wallop in May Despite Tornado Lull
In May, severe global weather left insurers with mixed data to mull over. While U.S. tornado activity for the month remained in the bottom 25th percentile dating back to the 1950s, major weather ...