News
EU Close to Deal on Long-Delayed Insurance Capital Rules
The European Union is close to agreeing on new rules that will force insurers to hold enough capital to keep policyholders safe, after years of delay. Lawmakers from the European Parliament and ...
Berkshire Hathaway Specialty Adds Healthcare Risk Management
Berkshire Hathaway Specialty Insurance is expanding its healthcare professional liability capabilities to provide customers with customized risk management support. The company will now reimburse ...
Thus Far, 2013 Is Seventh Hottest Year, More Warming Expected: WMO
This year is the seventh warmest since records began in 1850 with a trend to weather extremes and the impact of storms such as Typhoon Haiyan in the Philippines aggravated by rising sea levels, the ...
Liberty Mutual to Enter Mexico with Purchase of Surety Company
Liberty Mutual Insurance said it will acquire Mexican surety company Primero Fianzas from Grupo Valores Operativos Monterrey, a private investor group. The company said the acquisition will enable ...
Probe of RSA Irish Accounting Raises Doubt About CEO’s Controls at Insurer
In September, RSA Insurance Group Plc Chief Executive Officer Simon Lee expanded the role of his top Irish lieutenant, Philip Smith, and praised his "outstanding record." Two months later, he ...
Judge Rakoff Hits Failure of U.S. to Prosecute Wall Street Executives for Fraud
The federal judge who oversaw the recent civil fraud trial against Bank of America Corp. criticized the U.S. Department of Justice on Tuesday for failing to prosecute high-level executives over the ...
After 13 Years, Europe Appears Ready to Adopt Solvency II Insurance Regulations
Europe may be nearing an agreement on rules that aim to make insurance companies safer after 13 years of wrangling between politicians, companies and regulators. Insurers and European Union officials ...
No Major Ratings Impact from Typhoon: A.M. Best
A.M. Best expects Super Typhoon Haiyan to be an earnings event for reinsurers, but gross losses are not expected to exhaust reinsurance capacity, the rating agency said on Tuesday. While Haiyan was ...