Industry News
Treasury Officials Want Some Terrorism Premiums Retained for Future Claims
The federal terrorism risk insurance program "remains an important mechanism" for ensuring that terrorism risk insurance is available and generally affordable, the U.S. Treasury Department concludes ...
New Brexit Fallout: Bank of England Eases Bank Rules
Mark Carney pledged to shore up financial stability as he warned that the risks from Britain's shock decision to leave the European Union have started to crystallize. "There is the prospect of a ...
Rail Industry Isn’t Getting ‘Driverless’ Tech Anytime Soon
Peter Mills sees an inconsistency. One arm of the U.S. Department of Transportation is recommending two-person crews be required for freight trains as another plans to spend billions to help develop ...
ACP Re Pulls Out of A.M. Best Ratings Process After Downgrade
ACP Re's late filing of financial statements earlier in 2016 has left the Bermuda reinsurance and its multiple property/casualty subsidiaries in rough straits with A.M. Best. The ratings agency ...
Bermuda Market Leaders Assert Their Region is a Post-Brexit Haven
Four leaders of Bermuda market groups quickly issued statements last week to allay any fears that the fallout from the UK's Brexit vote would hit their market as well. "In a global economy, Bermuda ...
Buffett’s Berkshire Hathaway Seeks Greater Wells Fargo Stake
Warren Buffett's Berkshire Hathaway Inc. applied to the Federal Reserve for approval to expand its stake in Wells Fargo & Co. after reaching the 10 percent threshold that requires regulatory ...
Lightning Could Threaten Millions of Homes Built With a Type of Gas Tubing
Lightning strikes occur approximately 25 million times each year in the U.S., as reported by the National Severe Storms Laboratory. As summer approaches, storm producing lightning strikes could ...
Zurich’s UK General Insurance Head Departs; Replacement Named
The CEO of Zurich Insurance's UK General Insurance business is departing, and the insurer has already named a replacement as it proceeds with a reorganization. Vibhu Sharma, who spoke at a FT life ...