Regulation & Compliance
SEC Presses Berkshire for More Data On Insurance Cat Losses
Warren Buffett's Berkshire Hathaway Inc. is providing more data about claims costs at insurance units after the U.S. Securities and Exchange Commission pressed the company for the information. We ...
Cost of Factory Safety in Bangladesh on $22 Jeans: 99 Cents
In Bangladesh, the difference between a safe factory and an unsafe one comes down to a few cents. For just pennies per t-shirt or pair of trousers produced, garment manufacturers could build ...
Capital Markets Poised To Grow Even Bigger In Cat Re Space
The participation of the capital markets in the property-catastrophe reinsurance industry is poised to explode beyond one-third of the total limits in the market, an industry executive said recently. ...Judge Orders The Hartford to Pay $20M to Auto Body Shops
A Connecticut judge has ordered The Hartford insurance company to pay $20 million to auto body shops for an unfair trade practice related to hourly labor rates for vehicle repairs. The judge's ...Federal Insurance Regulator Releases Annual Report
The U.S. Department of the Treasury's Federal Insurance Office (FIO) today released its annual report on the insurance industry to the President and Congress. Under the Dodd-Frank Wall Street Reform ...Japanese Insurers Eligible for Bailout Funds Under New Law
Japan's parliament endorsed changes in legislation dealing with failed financial institutions as part of efforts by regulators worldwide to avoid a repeat of the global financial crisis. The passed ...
Chubb Must Face Bear Stearns Lawsuit Over SEC Settlement Coverage
Chubb Corp.'s Vigilant Insurance must face a lawsuit by Bear Stearns Cos. accusing the insurer of breach of contract for refusing to pay part of a U.S. Securities and Exchange Commission settlement, ...
New York City Proposes $20B ‘Resiliency’ Plan to Handle Rising Sea Levels, Temperatures
New York Mayor Michael Bloomberg on Tuesday announced a $20 billion plan to prepare for rising sea levels and hotter summers expected as a result of climate change in the coming decades. The plan, ...