News
EU Passporting Could Be Crucial for Lloyd’s Market Position in Post-Brexit World
The UK's exit from the European Union, or "Brexit," could lead to a loss of business for Lloyd's of London unless the UK government is able to negotiate passporting arrangements to maintain access to ...
Now Australia Is Suing Volkswagen Over Alleged Emissions Fraud
The Australian consumer watchdog on Thursday said it had sued the Australian arm of world No. 2 carmaker Volkswagen AG for intentionally selling more than 57,000 vehicles with software which lied ...
Insurance Companies, Pension Funds Carve Out Large Piece of Currency Trading
Non-bank financial institutions like insurance companies, mutual funds and pension funds account for more than 50 percent of daily turnover in the currency market, a survey of the foreign exchange ...
Amtrak Scores Partial Victory in Effort to Recoup Superstorm Sandy Insurance
Amtrak secured a partial U.S. appellate court win on Wednesday in its efforts to recoup insurance coverage after the railroad service sustained more than $1 billion in losses during Superstorm Sandy ...
XL Catlin Vets to Launch Sompo Canopius U.S. Ocean Marine Business
Sompo Canopius AG is diving into the U.S. ocean marine business. The global specialty insurer and reinsurer, which is wholly-owned by Sompo Japan Nipponkoa Insurance Inc., calls this a "significant ...
Executives On The Move at Beazley, Endurance and W.R. Berkley
Beazley added executive staff to its Chicago-based underwriting office. W.R. Berkley hired on a new chief information officer. Endurance Specialty Holdings appointed an AIG veteran as CEO of its U.S. ...
Did Your Hometown Make Allstate’s List of Safest-Driving Cities?
Americans are driving more miles and having more accidents, making safety a growing concern. With that in mind, Allstate ranked the safest-driving large cities in the U.S., with Brownsville, Texas, ...
Cat Bond Payments Match Traditional Reinsurers on Reliability Scale: S&P
Some traditional reinsurers have asserted that catastrophe bonds are unreliable in terms of paying claims after major events. A new Standard & Poor's article rebukes that idea. "We have explored ...