News
U.S. Treasury Vet is AIA’s New Federal Affairs Chief Counsel
A veteran of the U.S. Department of Treasury will be the American Insurance Association's new chief counsel for federal affairs. The AIA disclosed this week that Amanda Greenwold Wise has been named ...
Insurer Capital Rules Tweaked in New Senate Bill
The U.S. Senate has approved a bill tweaking the 2010 Dodd-Frank law's treatment of insurers, a rare adjustment to the Wall Street reform law that had been sought by the industry. Senators ...
S&P Ratings Lawsuits Allowed to Proceed in State Courts
Standard & Poor's suffered a defeat on Tuesday in litigation accusing it of issuing misleading credit ratings prior to the 2008 financial crisis, as a federal judge ruled that lawsuits by 16 U.S. ...
Tropical Storm Boris is Threatening Southern Mexico
Tropical Storm Boris formed off Mexico's Pacific coast, threatening the southern part of the country with heavy rain and "life-threatening" floods through the weekend. The system was 125 miles (200 ...
Reinsurers Are Ripe For M&A: Nomura
The reinsurance market is ripe for consolidation because the sector continues to soften, with alternative capacity in at least one area set to double over the next few years, a Nomura Equity Research ...
Looser Terms Luring Non-Buyers Back Into Casualty Reinsurance Market
While it might take an innovative clash cover to lure Chubb's reinsurance buyer back into the casualty reinsurance market, other cedents are enticed by higher ceding commissions and multiline and ...
Bipartisan TRIA Renewal Bill Advances Out of Senate Committee
The effort to renew the Terrorism Risk Insurance Act, or TRIA, moved forward on June 3 as a bipartisan bill advanced out of the Senate Banking Committee with a few amendments attached intended to ...
U.S. Officials Warn Transporting Crude Oil By Rail May Still Be Unsafe
Oil industry studies concluding that Bakken crude oil is safe to move by rail under existing standards may underestimate the dangers of the fuel and should not be the last word, U.S. lawmakers and ...