U.S.
Senate Probe: Flaws Riddle U.S. Government Flood Insurance Appeals Process
The U.S. government's appeals process for reviewing flood insurance claim disputes is riddled with flaws, but there is no evidence of systematic underpayments by insurers to flood victims, an ...
Marsh: Political Risk Insurance Grows in Capacity and Demand
Capacity for political risk insurance now surpasses $2 billion for a single policy, nearly double the number just six year ago, Marsh said in a new report. What's more, it is a buyer's market for the ...
Trader Suing Deutsche Bank Over Massive Individual Banker Bonuses
Bonuses of as much as 84 million euros ($96 million) paid out by Deutsche Bank AG to individual bankers just after the global financial crisis are at the center of a lawsuit filed by a former trader. ...
Ex-AIG CEO Greenberg Won One Lawsuit But Still Faces Another
A decade-old lawsuit in which New York accused former American International Group Inc Chief Executive Maurice "Hank" Greenberg of accounting fraud will head to the state's highest court for a second ...
Fitch: Berkshire Hathaway’s Commercial Insurance Success Threatens Smaller Rivals
Berkshire Hathaway's expansion into the U.S. commercial lines market in recent years has been immensely successful for the company, giving it the ability to crowd out smaller rivals, Fitch Ratings ...
Willis Beefs Up Cyber Risk Practice With Marsh, Wells Fargo and ACE USA Hires
Willis is bringing on executives from Marsh, Wells Fargo Insurance Services and ACE USA to help beef up its cyber risk management consulting business. Specifically, the new hires will become part of ...
Rain and Floods Shaped Allstate’s May Catastrophe Losses
Allstate said it handled estimated pre-tax catastrophe losses for May that reached $178 million, the bulk of which came from four severe weather events. The number actually hit $180 million, pre-tax ...
Buffett’s Berkshire Hathaway Grabs $388M Stake In Australia Insurer
Warren Buffett's Berkshire Hathaway Inc. will pay A$500 million ($388 million) for a stake in Insurance Australia Group Ltd. as part of a plan to expand in the region. The agreement will give ...