United Insurance Holdings Corp. (UPC Insurance) said it will pay $57 million for Interboro Insurance Co., a New York-based property/casualty insurer licensed to operate in four states and Washington, D.C. The deal involves both cash and stock and allows for …
Tropical Storm Joaquin jumped in strength and is forecast to become a Category 1 hurricane by Wednesday, even as computer models disagree on where it will end up. Joaquin’s top winds reached 65 miles (105 kilometers) per hour, up from …
New auto safety technologies such as automatic braking and sensors that keep a car in its lane could prevent almost 10,000 U.S. road deaths a year and save $251 billion if they were more widely available, according to a Boston …
Lloyd’s of London Chairman John Nelson criticized the business community, saying companies are too focused on profit and are at risk of eroding the trust of the public and regulators. Nelson, speaking at Lloyd’s annual dinner in London, said a …
In an attempt to deploy excess capital, some major European insurers have developed overseas operations over the past several years but are now taking a more cautious approach, as not all overseas strategies have proven successful, according to a new …
Catastrophe modeling firm AIR Worldwide reports that Typhoon Dujuan made landfall on northeast coast of Taiwan with high winds and heavy rain near Nan’ao Township in Yilan County, late afternoon on Monday, September 28, at approximately 09:00 UTC. AIR described …
The National Hurricane Center’s latest bulletin, issued at 5:00 EDT, notes that the “government of the Bahamas has issued a Hurricane Warning for the central Bahamas, including Cat Island, the Exumas, Long Island, Rum Cay, and San Salvador.” The NHC …
Flood waters receded along the Alabama coast Monday after storms from a tropical weather system dumped about 7.5 inches of rain in less than a day, inundating roads and creating dangerous surf conditions along beaches. No deaths or serious injuries …
Contamination from chemicals is likely to increase the cost to insurers of last month’s blasts in the Chinese port of Tianjin, costs which are already expected to exceed $3 billion, insurance specialists say. While Chinese insurers are likely to bear …
Bank of England Governor Mark Carney said UK insurers face potentially “huge” exposure to shifts in climate-change policy and Group of 20 nations need to do more to combat associated financial stability risks. “The challenges currently posed by climate change …
