Industry News
Colorado Floodwaters Menace State’s $41B Agriculture Sector
Colorado farmers and ranchers are bracing for widespread damage to the agriculture industry, one of the state's leading economic engines, from deadly floodwaters that already have caused property ...NY Proposes Rules on Troubled Mortgage Insurance
New York regulators have proposed new rules governing insurance obtained by lenders to protect their investments in properties with troubled mortgages. The Department of Financial Services says the ...
Heartbreak for Some in Colorado With No Flood Policy
Jessica Klauzer-Zimmerman and her children have been sleeping on friends' couches since floodwaters sloshed into her Boulder townhouse—which wasn't covered by flood insurance. "We were told we ...
JLT to Acquire Towers Watson’s Reinsurance Brokerage Business
Jardine Lloyd Thompson Group plc (JLT), one of the world's largest suppliers of insurance and employee benefits related advice, brokerage and services, will acquire the reinsurance brokerage business ...
SEC Turns Policy Corner with JPMorgan Guilty Admission
The U.S. Securities and Exchange Commission, in settling claims with JPMorgan Chase & Co. over its handling of a $6.2 billion trading loss, landed its biggest victory yet in fulfilling a pledge ...
Terror Risk Bond Market Unlikely, Says Swiss Re Americas CEO
Testifying before the House Committee on Financial Services on the future of the federal terrorism backstop Thursday, a reinsurance executive said the capital markets will not solve terrorism ...
TRIA Structure Will Change, But Renewal Expected: Analyst
After property/casualty insurance industry representatives presented testimony before the House Committee on Financial Services on the future of the federal terror backstop, a research firm predicted ...
RBS Raises $1 Billion from Sale of 20% of Direct Line
Royal Bank of Scotland Group Plc raised about 630 million pounds ($1 billion) from its third sale of a stake in Direct Line Insurance Group Plc, the U.K.'s biggest home and car insurer. RBS sold ...