Run-off specialist RiverStone Group, the London-based subsidiary of Fairfax Financial Holdings, announced the acquisition of two Cayman-based captives: GMPCI Insurance Co. Ltd. (GMPCI) and Seaside Indemnity Alliance Company Ltd. Seaside was formed in 2013 for the purpose of assuming hospital …
Global insurer Chubb reported a banner 2019 third quarter, even though the company’s net income took a hit largely from losses relating to an accounting adjustment. Net income for the insurer reached $1 billion compared to more than $1.2 billion …
Construction workers are more likely to use drugs than workers in other professions, finds a study by the Center for Drug Use and HIV/HCV Research at NYU College of Global Public Health. The study, published in the journal Drug and …
We received this question recently. I have inherited an account where the primary CGL was written on an occurrence form and the excess liability was written on a claims-made form. Can you help explain why this isn’t a great situation? …
Park Chol-hee was working the holiday shift at Samsung Heavy Industries’ Geoje shipyard on Labour Day, 2017, when a giant crane collided with another and crashed to ground, killing six people, including Park’s younger brother. “It was as if a …
Facebook has agreed to pay a 500,000 pound ($644,000) fine for breaches of data protection law related to the harvesting of data by consultancy Cambridge Analytica, Britain’s information rights regulator said on Wednesday. Facebook CEO Mark Zuckerberg has faced questioning …
A single cyber attack that affects major ports across Asia-Pacific could cost $110 billion, which is roughly equivalent to half of all losses from natural catastrophes globally in 2018*, according to research from Lloyd’s of London. These losses could occur …
Two Georgia suspects have been arrested and charged for allegedly defrauding Lemonade Insurance Company. Special Agents in the Criminal Investigations Division at the Georgia Department of Insurance assisted with the arrest of Zulieka Hosch, 37, of Lawrenceville, Ga., on October …
Four members of one family were injured Sunday when a small plane crashed on takeoff from an airport in upstate New York. According to the Genesee County Sheriff’s Office, the single-engine Beechcraft came down just after 3 p.m. as it …
Specialist insurer Beazley has appointed Hannah Smith as a miscellaneous medical underwriter within its U.S. healthcare team. Based in Atlanta, Ga., Smith will underwrite a range of miscellaneous medical professional liability (MPL) risks, from blood and tissue banks through to …
