News
Florida Personal Lines Insurer Ordered Into Receivership
Florida personal lines insurer Florida Specialty Insurance Co. (FSIC) has been ordered into receivership and will be liquidated after state regulators determined the company is insolvent and unable ...
Blame Game Escalates as UK Argues Brexit Deal is Near Impossible
The blame game over the likely failure to reach a Brexit deal escalated, with the U.K. accusing German Chancellor Angela Merkel of making an agreement effectively impossible. The pound fell. ...
Southwest Pilots Sue Boeing Over ‘Rush’ to Sell Unsafe Max Planes
The union for Southwest Airlines Co. pilots sued Boeing Co., saying the manufacturer rushed output of the 737 Max jet to stay competitive, withholding key information about a feature that contributed ...
Arch: Dorian, Faxai Caused Up to $75M in Pre-Tax Cat Losses
Arch Capital Group Ltd. disclosed pre-tax catastrophe losses of between $65 million and $75 million for the 2019 third quarter. Damages caused by Hurricane Dorian and Typhoon Faxai are largely to ...
Cat and Dogs Focus of Marsh, Zurich North America’s New Pet Insurance Program
Marsh and Zurich North America have begun a pet insurance program targeted to cats and dogs in the United States. Known as TrustedPals, the companies bill the effort as a "next generation pet ...
SCOTUS Rejects Utility’s Bid to Recover 2007 California Wildfire Payouts
The U.S. Supreme Court on Monday declined to hear a bid by Sempra Energy's San Diego Gas & Electric Co to recover $379 million from customers related to damages it was forced to pay out in ...
UK’s Johnson Beats Back Scottish Push for Further Brexit Obligations
A Scottish judge refused to put further obligations on U.K. Prime Minister Boris Johnson, saying that his "unequivocal assurances" to seek an extension to the Brexit deadline were sufficient. "There ...
Liabilities Swell in $440B Danish Pension Market
Back in 2012, the world's best-managed pension market was thrown a lifeline by the Danish government to help contain liabilities. That was when interest rates were still positive. Seven years later, ...