The African Union’s African Risk Capacity’s affiliated mutual insurance company, ARC Ltd, is set to make claim payouts of more than $25 million to three of its member states belonging to its catastrophe insurance pool, which was recently established to …
QE [quantative easing], European Central Bank style, passed the markets test but will have a harder time doing as well for the euro zone economy or the currency union project. Mario Draghi’s plan to buy €60 billion [$67.5 billion] a …
AXIS Capital Holdings Ltd. agreed to merge with PartnerRe Ltd., combining two Bermuda-based reinsurers with a total market value of almost $11 billion amid accelerating consolidation in the industry. PartnerRe shareholders will own 51.6 percent of the new company after …
The now infamous computer hacks infuriated consumers who had personal information compromised and Hollywood honchos who had embarrassing emails made public. But headline-grabbing computer intrusions are only a fraction of what is going on in the Wild West of cybercrime. …
New York’s attorney general has opened a criminal probe into accusations by Hurricane Sandy victims that insurance companies rejected claims for flood damage to their properties based on falsified engineering reports, a person familiar with the matter said. New York …
The shaky finances of the Oklahoma Jazz Hall of Fame seem to be attracting more attention than the museum itself. Executives at the nearly 30-year-old Tulsa nonprofit have sternly denied that the museum was in dire straits over the past …
Fargo, N.D’s acting mayor says the Federal Emergency Management Agency has moved to continue to allow homeowners to have basements in the city’s new floodplain. FEMA is responsible for the National Home Insurance Program and does not always allow basements …
Iowa’s top insurance official announced plans to ask a court to end a cooperative that was selling health insurance to residents in Iowa and Nebraska – a move that will limit options for consumers in both states. Iowa Insurance Commissioner …
Ohio Bureau of Workers’ Compensation (BWC) is proposing to reduce overall premium rate levels for private employers beginning July 1, 2015. The 10.8 percent reduction would result in a decrease in projected annual premium of $153 million, the BWC. If …
Insurance Technologies Corporation (ITC), a Carrollton, Texas-based provider of marketing, rating and management software and services, has promoted Becky Schroeder to vice president of marketing. In her new position as vice president of marketing, Schroeder will oversee the company’s continued …
