Industry News
May Global Disasters Could Cost Insurers at Least $7B in Claims: Aon Benfield
Global disasters led to at least $7 billion in claims during May as insurers aid the recovery process following wildfires, floods, and storms, according to Impact Forecasting, Aon Benfield's ...
Farmers Are at Risk if La Niña Emerges as Some Predict
The El Nino that has dominated global weather for more than a year has ended and may give way by the end of 2016 to a weak or moderate La Nina that can dry up crops in Brazil, soak them with rains in ...
CEO at Canal Insurance Resigns; Board Member Takes His Place
There's been a changing of the guard at Canal Insurance Co., a family-owned insurer based in South Carolina focused on commercial trucking and specialty transportation. Canal said that its board ...
AIR Worldwide: Unusual Circumstances Behind Floods in France, Germany, Belgium
Officials have only begun to tally economic and insured losses after widespread flooding hit much of France, Germany and parts of Belgium. But catastrophe-modeling firm AIR Worldwide said the ...
S&P Sees Proposed Insurer Rules as Strong on Risk Management
Standard & Poor's said the Federal Reserve Board's proposed rules for insurers under its oversight are strong as far as risk management, but uncertainty remains as to other crucial details. "We ...
U.S. Treasury Reviewing Fosun’s Acquisition of Ironshore
United States authorities are conducting a review of China's Fosun Group's acquisition in November 2015 of Bermuda-based insurer Ironshore. The Committee on Foreign Investment in the United States ...
Allianz Division Brings on AXIS/Chubb Hires to Grow U.S. Cyber Team
Allianz Global Corporate & Specialty is the latest carrier to expand its cyber insurance arm in response to the fast evolving and growing risk. New hires from AXIS and Chubb will help round out ...
Puerto Rico Insurers Urge Talks to Avoid Major Bond Default
Puerto Rico's bond insurers are urging the commonwealth to negotiate with creditors as speculation increases that the island will default July 1 for the first time on its general-obligation debt. ...