California homeowners and regulators have a new fear about wildfires ravaging the state: that insurers will drop coverage. Massive, out-of-season fires in northern and southern California are causing billions of dollars in claims and challenging expectations of when and where …
Travelers Cos. Inc. plans to stick to its recent growth pace for sales of cyber insurance, which protects businesses against hacking and other liabilities, despite potential to boost it, as the insurer assesses risks in the segment, its head of …
American International Group Inc. said it would include cyber coverage to its commercial casualty insurance during the first quarter of 2018, a move that would boost rates but make it clearer how customers are covered if they are the victim …
U.S. money managers with reinsurance companies in Bermuda and the Cayman Islands could lose a valuable loophole under Republican proposals to overhaul the tax code unveiled on Thursday. The plan includes a 20 percent excise payment on payments from domestic …
American International Group Inc. said it would include cyber coverage to its commercial casualty insurance during the first quarter of 2018, a move that would boost rates but make it clearer how customers are covered if they are the victim …
Insurers and reinsurers around the globe are looking to raise rates after what looks set to be their most costly quarter on record. Hurricanes Irma and Maria alone caused as much as $135 billion in insured losses, according to modeling …
Wineries damaged by wildfires tearing through Northern California are starting insurance claims, and at least some of the smaller vintners are likely to find limits in their policies mean payouts fall short of rebuilding costs. Gaps in coverage and a …
Puerto Rico’s island-wide power outage will mean a surge in insurance claims for lost business income that will increase the already high cost of damage caused by Hurricane Maria, likely tipping some big reinsurers into the red this year, according …
Ratings downgrades for global insurers and reinsurers are becoming more probable as they face more than $100 billion in 2017 catastrophe losses, a figure that threatens to weaken their capital reserves, Fitch Ratings Inc. said in a report on Tuesday. …
Allstate Corp.’s Chief Executive Officer Tom Wilson on Tuesday called on U.S. lawmakers to overhaul a government subsidized flood insurance program, calling for a more streamlined system that does not overburden taxpayers. Allstate, the second-largest U.S. homeowners’ insurer based on …
