U.S.
W.R. Berkley Divests; Shifts InsurBanc To Connecticut Bank It Controls
InsurBanc -- a federal savings bank founded by the Independent Insurance Agents & Brokers of America and insurer W.R. Berkley Corp. a dozen years ago -- has joined Connecticut Community Bank ...Bond Insurer Ambac Moves Toward Bankruptcy Exit with IRS Settlement
Ambac Financial Group Inc. on Monday said it has reached a $101.9 million settlement of a dispute with the Internal Revenue Service, a key step in the bond insurer's effort to emerge from bankruptcy. ...
The Hidden Cost of Standing Still: Legacy Platforms Slow Growth and Halt the Shift to AI-Enabled Insurance Business
Presented by Majesco
There is a hidden disease that is killing insurers — the disease of legacy technology. The problem is a matter...
Targeting China IT In Cyber Security Law Is Discriminatory, U.S. Biz Group Says
The U.S.-China Business Council on Monday criticized a new U.S. law aimed at thwarting cyber attacks by discouraging the Justice Department and several other government agencies from buying ...
Pension Funds Chasing Yields Eye Catastrophe Bonds
Pension funds are turning to specialist bonds that bet on the likelihood of a natural disaster, in a search for yield and returns that are not correlated to the rest of the market. What was once ...
Global Crowdfunding Volumes Up 81% In 2012; More Than Half From U.S. Websites
Crowdfunding websites helped companies and individuals worldwide raise $2.7 billion from members of the public in 2012, an 81 percent increase on the previous year, data showed on Monday. As banks ...
Trying to Fix Broken Economics: Kaletsky
Here is a list of economic questions that have something in common: In a recession, should governments reduce budget deficits or increase them? Do zero percent interest rates stimulate economic ...
New York Mortgage Lender Charged with Defrauding Government Insurer
The United States last Thursday sued a New York mortgage company it said defrauded the federal government into insuring poor quality home loans, costing taxpayers millions of dollars. In a civil ...BP to Appeal ‘Absurd’ Oil Spill Claims Payments
A U.S. judge's ruling Friday against BP Plc means the company can proceed with its appeal of the way a court-appointed administrator apportions payments for claims related to the 2010 Gulf of Mexico ...