International
New York Probes 20 Foreign Reinsurers’ Compliance with Iran Sanctions
New York's financial regulator has asked 20 non-U.S. reinsurers whether they conducted business with entities linked to Iran, as part of a review of these companies' ability to comply with a new U.S. ...
Warming Happening Faster In High Latitude Coastal Waters: University Research
Locally, changes in coastal ocean temperatures may be much more extreme than global averages imply. New research published in the June 18 edition of Public Library of Science (PLoS ONE) entitled ...
When MGAs manage a high volume of insurance submissions, underwriting speed often depends on what happens before an underwriter ever...
U.S. Property Cat Re Prices Down As Much As 25%, Casualty Softening: Willis Re
Reinsurers are taking "robust defensive measures to maintain market positions recently eroded by new capital markets entrants," with prices down 25 percent on some Florida property accounts, Willis ...
Political Risk Insurers Monitor Brazil, Turkey Impact; No Losses Yet
The large political demonstrations taking place in major cities in Turkey and Brazil in June have not yet impacted the political risk insurance market, according to a report by Marsh last week. "As ...Accenture Cuts Full-Year Outlook As Consulting Slows Further
Outsourcing and consulting services provider Accenture Plc cut its full-year outlook last week, citing a pullback in spending by its consulting business clients. Clients are slowing the pace and ...
Tepco’s Shareholders Decline to Pursue GE for Fukushima Claims
Tokyo Electric Power Co. shareholders rejected a proposal to look into pursuing claims for compensation against companies that supplied parts for the crippled Fukushima nuclear plant, including ...
Insurance Industry Facing Accounting Overhaul in Line with Global Standards
The biggest overhaul of insurance accounting in 30 years was to advance a step on Thursday with the release of a proposal that some insurers fear could make their profits more volatile. In a move to ...
Europe Strikes Deal To Push Cost Of Bank Failure On Investors
The European Union agreed on Thursday to force investors and wealthy savers to share the costs of future bank failures, moving closer to drawing a line under years of taxpayer-funded bailouts that ...