Chubb, like other property/casualty insurers and reinsurers, faced significant catastrophe losses from hurricanes and earthquakes that struck in August and September. The insurer reported a net loss of $70 million for the quarter. The results are a fall from a …
A magnitude 3.9 earthquake hit southeastern Alaska early Thursday morning, the U.S. Geological Survey confirmed. The USGS says the earthquake struck at 1:01 a.m. and had an epicenter 47.6 miles southwest of Port Alice, a town of about 805. The …
The costs of emergency police, fire and other services related to the Las Vegas shooting massacre were projected Wednesday at about $4 million and climbing. The disclosure came amid pledges by the federal government to provide $1 million, and from …
The property insurance market’s losses from the series of earthquakes to hit Central Italy between Oct. 26 and Oct. 30, 2016 has risen to €208 million (US$244.4 million), according to PERILS, the independent Zurich-based organization that provides industry wide catastrophe …
Aetna Inc. gained in New York trading after the Wall Street Journal reported that CVS Health Corp. is in talks to buy the insurer for more than $66 billion. Aetna jumped 12 percent to $178.60, closing at a record high, …
U.S. President Donald Trump declared the opioid crisis a public health emergency on Thursday, stopping short of a national emergency declaration he promised months ago that would have freed up more federal money. Responding to a growing problem, particularly in …
Silicon Valley business software startup Zenefits and its co-founder Parker Conrad have been fined nearly $1 million by the U.S. Securities and Exchange Commission as part of a settlement over charges that they misled investors. Zenefits will pay a $450,000 …
American International Group Inc. on Thursday sued Walt Disney Co. to avoid having to reimburse the parent of ABC News for part of a settlement of a meat producer’s defamation lawsuit over a product that critics call “pink slime.” In …
The Toa Reinsurance Co. and Barbican Insurance Group announced they have received “in principle” approval from the Lloyd’s Franchise Board to establish Toa Re Special Purpose Arrangement (SPA 6132) to be backed exclusively by Toa Re. Subject to formal approval, …
Federal prosecutors say a man will spend less than a year in prison for his role in an insurance scam involving staged car crashes in eastern Connecticut. Jonas Joseph was sentenced Wednesday in New Haven federal court to eight months …
