Industry News
A First for the Nation: New York’s Crime Insurance Reg Kicks in This July
New York State's Department of Financial Services (DFS) in December issued a new regulation that prohibits insurance companies from denying commercial crime insurance coverage to New York businesses ...
25 Reinsurers Join $1B NFIP Reinsurance Program
The federal government's National Flood Insurance Program has secured more than $1 billion in reinsurance from 25 global reinsurers to help it weather major storms. Participating reinsurers include ...
2016 Cat Bond Issuance Nears 2015 Levels, Drops From 2014 Heights
A strong fourth-quarter rally helped make 2016 catastrophe bond issuance only slightly lower than the year before, according to the Property Claims Services unit of Verisk Insurance Solutions. But ...
Reinsurers Can Expect Another Difficult Year: Willis Re
Despite a 50 percent increase in insured losses from natural catastrophes during 2016, the global reinsurance industry achieved profitable results for the third quarter and remains on track to close ...
Carpooling Apps Could Eliminate Need for Taxis: MIT
Using carpooling options from rideshare companies like Uber and Lyft could reduce the number of vehicles on the road 75 percent without significantly impacting travel time, a new study by MIT found, ...
AIG Completes $3.4B Sale of Mortgage Guaranty Unit to Arch Capital
American International Group said it has completed the $3.4 billion sale of its mortgage-guaranty unit to Arch Capital Group, an important piece of a wide-ranging, ongoing plan to cut jobs, ...
The Hartford, National Indemnity Ink $1.5B Reinsurance Deal Covering Asbestos/Environmental Liability Reserves
The Hartford said it has sealed a sizable reinsurance agreement covering some asbestos and environmental liability reserves with Berkshire Hathaway subsidiary National Indemnity Company. Plans call ...
Carrier Management’s Top 10 2016 Features: Leadership, Disruption and More
Today's Carrier Management newsletter is the first of 2017. But before we look ahead, here's a look back at our top 10 features of 2016. These stories feature CEOs and executives giving invaluable ...