Extended development from North American hurricane losses and losses from non-peak perils like California wildfires have finally jolted reinsurers out of a soft reinsurance market, according to a report from reinsurance broker Guy Carpenter. The report titled “The Changing Nature …
The hit CBS Corp. comedy “Young Sheldon” about a child genius, wasn’t so smart when it came to a mock tornado warning, according to the Federal Communications Commission. Even modified, the tornado warning sounded too much like the Emergency Alert …
Although the insurance market is awash with capacity and competition, two new specialty companies—a re/insurer and a broker—formed earlier this year, aiming to create something new and different for their clients. First, well-known industry veterans Stephen Catlin and Paul Brand, …
Fidelity National Financial and Stewart Information Services Corp. have agreed to terminate FNF’s proposed merger with Stewart due to the Federal Trade Commission’s issuance of an administrative complaint seeking to block the merger. FNF said it will make a payment …
A federal judge on Monday ordered Facebook Inc. to face most of a nationwide lawsuit seeking damages for letting third parties such as Cambridge Analytica access users’ private data, calling the social media company’s views on privacy “so wrong.” While …
The U.S. judge overseeing nationwide litigation concerning the opioid crisis on Monday rejected Purdue Pharma LP’s effort to dismiss claims that its activities caused a public nuisance. U.S. District Judge Dan Polster in Cleveland said a reasonable jury could conclude …
The American Medical Association on Monday urged Americans to stop using electronic cigarettes of any sort until scientists have a better handle on the cause of 450 lung illnesses and at least five deaths related to the use of the …
As the cyber insurance market has continued its rapid growth, its loss vulnerabilities have become increasingly clear. A new report from Guy Carpenter and CyberCube Analytics has identified potential loss scenarios in the current market that run in the billions …
Reinsurance brokerage BMS Group announced the appointment of Gregg Holtmeier as chief strategy officer of its U.S. reinsurance operations. With 20 years’ experience in the reinsurance markets, Holtmeier joins BMS from Guy Carpenter, where he was most recently managing director …
Health insurer Cigna Corp. said on Thursday it had introduced a plan to fully cover costs for expensive gene therapies, eliminating any out-of-pocket payments for customers. Gene therapies, which in general aim to treat diseases by manipulating genes at a …
