Heightened geopolitical tensions spilling over from the Russia-Ukraine crisis, high interest and inflation rates, and low commodity prices are placing pressure on Russia’s economy and its insurance industry’s prospective growth, according to an A.M. Best special report. A.M. Best believes …
Anthem Inc. said on Wednesday its millions of customers can sign up for free credit monitoring and identity-theft protection services this week following a massive cyber attack involving stolen U.S. Social Security numbers, birth dates and sensitive health information. “Consumers …
The Supreme Court briefs are in, and we can now say that big business backs Obamacare. The justices will hear oral arguments on March 4 in the latest case challenging the Affordable Care Act (ACA). At issue is the act’s …
The UK’s Flood Re has announced the appointment of Capita as its Managing Agent, following what it described as a “detailed and rigorous public procurement process for a five year contract that led to a number of high quality responses. …
Guy Carpenter has provided an answer to a rarely asked question, but one which increasingly affects insurers and reinsurers: namely, what’s involved in a collateralized reinsurance transaction? Guy Carp explained that it “is one in which a market creates a …
Third Point Reinsurance Ltd., the Bermuda-based company co-founded by hedge-fund manager Dan Loeb, said buying a competitor in the U.S. or Europe could clash with its business model. “One of our strengths is we can tell people that our money …
Zurich Insurance Group AG, Switzerland’s biggest insurer, fell short of an earnings target as fourth- quarter profit fell 20 percent on lower income from the general insurance unit. The shares declined. Net income fell to $858 million from $1.07 billion …
Connecticut lawmakers are considering whether to make it illegal for pets to ride in a vehicle while sitting on the driver’s lap. Under a bill before the Connecticut General Assembly’s Transportation Committee, people found driving with a pet on their …
New York Metropolitan Transportation Authority’s (MTA) captive insurer and wholly owned insurance subsidiary First Mutual Transportation Assurance Company (FMTAC) will lead coverage for liability for third party claims and property losses stemming from last week’s fatal MTA Metro-North Railroad train-SUV …
Nova Healthcare Management, headquartered in Houston, Texas, entered a plea of guilty to felony workers’ compensation fraud related charges, according to an announcement by Texas Mutual Insurance Co. and the Travis County District Attorney. According to the court documents, Texas …
