Industry News
Swiss Re, Berkshire Settle Retro Dispute
Swiss Re announced that the reinsurer has settled a dispute with Berkshire Hathaway over a life retrocession agreement dating back to 2010, with Swiss Re taking back some risks and getting a payment ...
Florida Alleges Fraud by Allianz in Case of Failed Insurer
Florida regulators are alleging that insurer Allianz and its companies contributed to the collapse of a Florida domestic property insurer by taking out more than $20 million in assets and rendering ...AIG Adopts Clawback Policy, Employee Incentive Plans
American International Group, the insurer whose government bailout was marked by controversy over executive salaries, on Wednesday said its board adopted a clawback policy to recover compensation in ...
Lloyd’s Posts $4.5 Billion Profit for 2012
Lloyd's reported an overall profit of $4.517 billion for 2012, making the $800 million loss in 2011, the costliest year on record for natural catastrophes, a fading memory. Controlled growth in 2012 ...Flood Insurance Premiums to Rise, FEMA Chief Warns
The head of the Federal Emergency Management Agency said people who buy federal flood insurance need to plan for big rate hikes. FEMA Director Craig Fugate said some people now paying hundreds of ...
Modern Fire Science Prompts Reviews of Past Arson Convictions
Ed Graf was given life in prison 25 years ago for killing his two stepsons by locking them in a backyard shed and setting it on fire. Two investigators used photos of the shed's remains to persuade ...
TRIA Won’t Be Extended, P/C Carrier CEOs Say
Chief executive officers of property/casualty insurance carriers said their companies will still stand ready to provide terrorism coverage when—not if—the Terror Risk Insurance Act expires ...