The re/insurance industry is failing to respond to the growing global terrorist threat with products that meet the needs of their clients, according to a report published by JLT Re and JLT Specialty Ltd. Indeed, evidence that insurance has absorbed …
Chancellor of the Exchequer George Osborne announced he’ll double funding to strengthen the U.K.’s cyber defenses, while refusing to confirm that budget cuts to be announced next week would spare Britain’s police forces, as Europe braces for further attacks from …
A public-private, cyber-catastrophe reinsurance arrangement would improve the UK’s resilience against the growing threat of cyber risks in this interconnected world, according to a cyber report released this week. Given the fact that the current market for cyber insurance is …
“For corporate borrowers, as well as Standard & Poor’s Ratings Services’ assessment of credit quality, cyber risk is a growing source of concern, given the increasing frequency of reported incidents,” says a new analysis report from S&P – “Cyber Risk …
Chief executive officers and chairmen of some of Europe’s biggest banks and insurance companies called for more studies on the effectiveness and impact of regulation to prevent financial crises. While macroprudential tools help prevent bubbles and are necessary to address …
The U.S. systemic risk council will meet on Sept. 4 to discuss naming nonbank financial firms for tougher regulatory oversight, the U.S. Treasury Department said on Thursday. The Financial Stability Oversight Council (FSOC) appears close to deciding whether it believes …
The top U.S. regulatory panel tasked with policing the safety of the financial system said on Thursday it is launching a review of potential risks in the asset management industry. But the Financial Stability Oversight Council was unlikely to designate …
A group of Republican lawmakers demanded documents on Friday from U.S. regulators, voicing concerns that decisions about whether to designate large financial companies as systemically risky are unduly influenced by an international body. Senior members of the U.S. House of …
The U.S. financial risk council adopted new transparency measures on Wednesday, after critics raised concerns the group was too secretive about its decision-making process. In a unanimous vote, the Financial Stability Oversight Council agreed to give the public seven days’ …
The Federal Reserve released a list of 15 firms that merit an extra layer of supervision because they pose heightened systemic risks, including JPMorgan Chase & Co. and Bank of America Corp. The tally published on the Fed’s website today …
