Industry News
ACE Limited P/C Subs in North America Now Rated A++: A.M. Best
On Friday, A.M. Best announced that the rating agency upgraded the financial strength rating (FSR) of the North American property/casualty subsidiaries of ACE Limited to "A++" from "A+," also raising ...Ship Owners Have to Provide Insurance, Bond for Stranded Merchant Sailors: New UN Rule
Sailors stranded on merchant ships without food, supplies or a way home won new safeguards. Ship owners will have to provide insurance or a bond to pay for sailors' wages and repatriation under a new ...
Drought, Winter Storms Led March Insured Losses: Impact Forecasting
Severe drought, flooding and winter storms topped the list of natural perils in March, according to the latest Global Catastrophe Recap report from Aon Benfield's Impact Forecasting. The U.S. was hit ...
April Renewals Bring Price Reductions, Focus On Tailored Coverage: Guy Carpenter
Strong balance sheets and an abundance of capacity led to lower reinsurance pricing across most territories and business segments for April 1 renewals, according to Guy Carpenter. "Despite a spike in ...
Aon CEO Case Defends Berkshire Deal; Sidecar Innovation ‘Good for London’
Aon Plc, the broker that was criticized by Lloyd's of London for a deal with Warren Buffett's Berkshire Hathaway Inc., said the relationship actually helps make the U.K. insurance market more ...
Colorado Forecasters Predict Quiet Atlantic Hurricane Season
Rising heat in the equatorial Pacific Ocean portends the quietest Atlantic hurricane season in five years, Colorado State University researchers said. Nine named storms, with winds of at least 39 ...
Bipartisan Deal in Senate for TRIPRA Extension; Co-Pays Up
A bipartisan group of U.S. senators has agreed on legislation to extend the government's financial backstop of terrorism insurance for seven years. The legislation would raise private insurers' ...
Catastrophic Cyber-Attack Coverage Remains Elusive: Willis Report
Insurance coverage for cyber-attack losses in the global energy market isn't as clear-cut as the industry might hope. A new market report from Willis Group Holdings concluded that companies face a ...