News
Sandy Losses Wiped Out Entire U.S. Marine Premiums for 2012: IUMI
The cost of Superstorm Sandy to the global marine market has been put at between $2.5 billion and $3 billion—which effectively wipes out the entire U.S. marine premiums for 2012, according to the ...
Supreme Court to Hear Drugmakers’ ‘Pay for Delay’ of Generic Products Case
The U.S. Supreme Court is set to hear arguments over whether big drug companies can settle patent litigation with generic rivals by making deals to keep cheaper products off the market. U.S. and ...
Picture an experienced underwriter who’s spent 30 years building carrier relationships, spotting risks others miss, and mentoring producers. Over the...
Record $16B Crop Insurance Payout Stirs Subsidy Debate
Farmers will be paid a record $16 billion in crop insurance claims for 2012 because of the widespread drought, a staggering amount that has critics calling for changes to what they say is an ...JPMorgan Board “Strongly Endorses” Dual Role For Dimon
The board of directors of JPMorgan Chase & Co said on Friday it "strongly endorses" keeping Jamie Dimon as both chairman and chief executive of the company. The comment, contained in the opening ...
17 P/C Insolvencies, Only One Cat-Driven In 2012: A.M. Best
Only one of 17 property/casualty insurance carriers that became financially impaired in 2012 suffered its impairment as a result of catastrophe losses, according to a recent study by A.M. Best. ...Fitch Poised To Cut UK’s Triple-A Rating; Follows Moody’s Cut Last Month
Britain looked poised to lose its AAA rating from a second ratings agency after Fitch Ratings warned on Friday it was likely to downgrade the country in the coming weeks, citing high government debt ...Basel Cracks Down On Capital-Protection Ploy At Banks
Global regulators have proposed hefty charges to cancel out capital relief banks enjoy when buying pricey insurance to cover risky loans without acknowledging the cost in a timely way. The Basel ...
Individual P/C Carrier Results Lackluster, Despite Aggregate ’12 Improvement: Fitch
Although the aggregate operating results for a group of large publicly traded property/casualty insurers improved markedly in 2012 compared to 2011, individual carrier performance remains "below par" ...