News
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 ...
Flaws Seen in Philippine Disaster Prep, Response
Hours before Typhoon Haiyan hit the Philippines, authorities had evacuated 800,000 people and sent them to sturdy evacuation centers—churches, schools and public buildings. But the brick-and-mortar ...
For years, the insurance industry has been working to reduce the friction that slows down underwriting, claims, and servicing. Now,...
Haiti, Philippines Suffered Most from Climate-Related Disasters
Haiti and the Philippines suffered the biggest climate-related disasters last year, a study showed as United Nations envoys from 195 nations discussed ways to assist countries coping with the impacts ...
Multinational Ratings Agency to Launch as Alternative to Big Three
Credit ratings organizations from five countries are launching a new global agency, touting it as an alternative to the Big Three agencies, which they say no longer meet the needs of the new ...
Detroit Mayor-Elect Eyes Bigger Role Amid Bankruptcy; City-Run Auto Insurer Part of Vision
Detroit Mayor-elect Mike Duggan rescued a county, a bus system and a 14,000-worker hospital network, served as a prosecutor, plotted Democratic campaigns and coached his four children's soccer teams. ...
U.S. to Become World’s Top Oil Producer in 2015: IEA
The United States will stride past Saudi Arabia and Russia to become the world's top oil producer in 2015, the West's energy agency said, bringing Washington closer to energy self-sufficiency and ...
NYC’s World Trade Tower Opens 40% Empty in Revival: Real Estate
The first skyscraper at lower Manhattan's World Trade Center is set to open with two days of ceremonies to mark the renewal of the area after its destruction by terrorists. When the fanfare subsides, ...
New UK Financial Regulators Face Surge in Staff Turnover: Reuters Analysis
Staff have been quitting Britain's financial watchdogs at nearly twice the rate since they were split into two bodies this year, data seen by Reuters shows, at a time when experts warn of a ...