Industry News
Everest Re Announces Passing of Chief Risk Officer, Chief Actuary Mango
Everest Re Group Ltd. has announced the passing of Don Mango, the company's chief risk officer and chief actuary. Mango's contributions to the risk management and actuarial community were widely ...
Natural Disasters Cost Global Economy $32B in Q1, With Only $14B Insured: Aon
Preliminary economic losses from natural hazards during the first quarter of 2022 totaled $32 billion, of which less than 50 percent (or $14 billion), was covered by public and private insurers, ...
This Year’s Hurricane Season Likely to Be Wetter, Just Like 2020
Climate change made the 2020 Atlantic hurricane season noticeably wetter, and it will likely make this season rainier, too, scientists said. Human-caused climate change made the entire season drop ...
Familiar Securities Plaintiff Sues to Stop Berkshire’s $11.6B Deal for Alleghany
At least one shareholder of Alleghany Corp. is unhappy with the insurer's agreement to be bought by Warren Buffett's Berkshire Hathaway. According to a lawsuit filed April 13 in U.S. District Court ...
Judge Finds Tesla Liable to Black Former Worker Who Alleged Bias, but Slashes Payout
A federal judge said on Wednesday Tesla Inc. was liable to a Black elevator operator who said the electric car company ignored racial abuse at the factory where he worked but reduced a nearly $137 ...
How Warren Buffett Does a Deal: Alleghany Merger Backstory
Berkshire Hathaway didn't require Alleghany to pay any breakup fee in the event another potential acquirer topped an $11.6 billion deal price that Warren Buffett offered to CEO Joseph Brandon in ...
Cyber Premiums Grew 74% in 2021: Fitch
According to estimates by Fitch Ratings, direct written premiums for standalone and packaged cyber insurance increased 74 percent to nearly $5 billion in 2021 compared with overall growth for the ...
South Carolina Insurance Director Farmer to Retire
South Carolina Department of Insurance Director Ray Farmer is retiring after nine years of service, effective April 15, 2022. Farmer was appointed to lead SCDOI in 2012 by former Governor Nikki ...