News
Managing, Not Excluding, New Risks Key To Long-Term P/C Growth: Actuaries
Property/casualty insurers must learn how to manage new risks like nanotechnology, not just exclude them, if they want to survive and grow long-term, according to speakers at the spring meeting of ...
P/C Industry Told TRIA Extension Will Not Pass In Time For January Renewals
The property/casualty insurance industry should not count on Congress reauthorizing the federal terrorism reinsurance program this year or in time for January renewals, according to a key insurance ...
World Trade Center Developer Denied Right to Pursue $3.5B From Airlines
Real estate developer Larry Silverstein was denied the right to seek $3.5 billion from airlines whose planes were hijacked by terrorists and flown into the World Trade Center's twin towers on Sept. ...
9 Global Insurers to Face Higher Capital Standards, Tougher Supervision
Top insurers will have to hold more capital from 2019 to cover risks they pose to the financial system should they go bust, global regulators said on Thursday. Regulators also released an initial ...
SEC Bans Gupta From Director, Officer Roles; Imposes $13.9M Fine
Former Goldman Sachs Group Inc. director Rajat Gupta was ordered to pay a $13.9 million civil penalty and banned from serving as an officer or director of a public company for having illegally passed ...
Colorado Wildfire Cost Insurers $292.8M
The Colorado Black Forest wildfire cost insurers $292.8 million and ruined a record 486 structures, making it the second-most costly fire in the state's history. Policyholders submitted 3,630 home ...
Paint Makers’ $900M Lead Paint Trial Underway in California
BP Plc's Atlantic Richfield Co. is among five companies fighting a public nuisance lawsuit in state court seeking $900 million to replace or contain lead paint in millions of California homes. In a ...
Allstate Selling Lincoln Benefit Life to London Group for $600M
Clive Cowdery, who earned a fortune cutting deals that consolidated the U.K. life insurance industry, is making a foray into the U.S. by buying a business from Allstate Corp. for $600 million (394 ...