Claims & Reserving
Total Catastrophe Losses in 2013 at $130B, Insured Losses at $44B: Swiss Re
Swiss Re AG, the second-largest reinsurer worldwide, said natural and man-made catastrophes in 2013 caused $130 billion in economic losses tied to floods, hailstorms and other events. Insured losses ...
Tower Selling Stake in Canopius Group Limited, Boosting Reserves Again in Q3
Tower Group International, Ltd. (Tower) announced Tuesday that it has paid $70 million that was outstanding to its Bank of America credit facility using proceeds from the sale of a stake in Canopius ...
AmTrust Refutes Negative Report on Accounting, Says Future ‘Never Been Brighter’
AmTrust Financial Services Inc. (AFSI), a New York-headquartered insurer whose stock price fell last week in wake of a negative report from research firm GeoInvesting, is assuring investors its ...
Q&A: Liability Insurance and Admitting Wrongdoing in SEC Settlements
Earlier this year, the U.S. Securities and Exchange Commission reached a settlement with New York-based hedge fund adviser Philip A. Falcone and his advisory firm Harbinger Capital Partners. The ...
That ’70s Show: Obamacare Takes Federal Black Lung Claims Back in Time
Tucked into amendments to the Patient Protection and Affordable Care Act (PPACA) are two unexpected provisions that put casualty insurance carriers on the hook to pay Black Lung benefits on claims ...
RSA Ireland CEO Smith Quits, Says Made ‘Fall Guy’ in Accounting Probe
RSA Insurance Group Plc's Irish unit Chief Executive Officer Philip Smith resigned Nov. 28, saying he was made a "fall guy" amid an investigation into the insurer's accounting practices. The company ...
Zurich P/C Chief Kerner Sees ‘Dramatic’ Cyber Attack in Near Future
Michael Kerner, who oversees property-casualty coverage at Zurich Insurance Group AG, said computer threats are escalating and may soon cause "dramatic" disruptions for businesses and individuals. ...
Setbacks Outweigh Gains in World’s Bid to Meet Carbon Goals: Study
The world is getting further off track in limiting global warming with setbacks in Japan and Australia outweighing positive signals from the United States and China, a study showed on Wednesday. A ...