News
Obama: Sony Pictures’ Hacking an ‘Act of Cyber Vandalism’
The hacking of Sony Pictures Entertainment's computer system was "an act of cyber vandalism" that requires the U.S. to "respond proportionately," President Barack Obama said. The U.S. has linked the ...
Challenges for Foreign Investors: Marsh’s 2015 Political Risk Map
Falling oil prices, rising geopolitical tensions and separatist movements topped the list of challenges facing direct foreign investors, according to Marsh's 2015 Political Risk Map and report. The ...
ACE Keeping Most Fireman’s Fund Personal Lines Staff When Allianz Deal Closes
ACE Group said it will keep most of the employees with Fireman's Fund's personal lines business once its $365 million acquisition of the division from Allianz goes through. "We value Fireman's Fund ...
Standard & Poor’s, A.M. Best, Downplay Initial Impact of TRIA’s Demise
Many insurers and businesses argue the absence of federal terrorism reinsurance beginning in 2015 could lead to a market breakdown and canceled coverage. But in the wake of Congress's inability to ...
U.S. Shale Drillers Confront Insurance Gaps With Oil Price Plunge
Tumbling oil prices have exposed a weakness in the insurance that some U.S. shale drillers bought to protect themselves against a crash. At least six companies, including Pioneer Natural Resources ...
Sea Level Rise May Come Faster, Greenland Ice Sheet Study Says
The Greenland Ice Sheet is the second-largest body of ice on Earth. It covers an area about five times the size of New York State and Kansas combined, and if it melts completely, oceans could rise by ...
China Establishes Debut Insurance Fund for $2.1 Trillion Trust Industry
China on Friday set up its first insurance fund for its $2.1 trillion trust industry in a move to reduce financial risk in shadow banking, the country's banking regulator said. The fund, jointly ...
Investors Aren’t Impressed by XL Group’s Proposed Catlin Acquisition
XL Group plc's acquisition discussions with Catlin for a rumored $3.97 billion-plus aren't exactly wowing investors. Media outlets reported that the insurer and reinsurer's stock dropped nearly 4 ...