BEIJING — Devastating summer floods in the populous province of Henan in central China are a wake-up call for local authorities to seek better insurance cover against natural disasters, potentially opening up a huge market for insurers in the country. …
Rising prices of insurance against cyber attacks fail to take account of the potential catastrophic effects of a widespread attack, Chubb Ltd. Chief Executive Evan Greenberg said on Wednesday. “The pricing environment is pretty good,” Greenberg said on a conference …
Charles Taylor Acquires Syndicate Claim Services London-based Charles Taylor Adjusting, a provider of insurance services, claims solutions and technology platforms to the global insurance market, has acquired Syndicate Claim Services Inc., an independent adjusting and claims services business, based in …
LAKEWOOD, N.J. (AP) — A forest fire near the Jersey Shore that shut down the Garden State Parkway, sent neighbors fleeing and led to a firefighter’s hospitalization in critical condition was “a very, very near catastrophe,” authorities said Monday. The …
While Fitch Ratings worries that litigation over COVID-19-related business-interruption claims is creating uncertain risk for property and casualty insurers, an economist who once served as a chief advisor to the industry said he doubts there will be a widespread impact. …
The polar vortex that caused power outages across Texas for the past week also will bring more insurance claims than any event in the state’s history, the Texas Insurance Council said Thursday. “I hate to say the word ‘unprecedented’ but …
In case you forgot, the year that just passed brought an unprecedented number of catastrophes — not to mention COVID-19. Three insurance industry reports issued this week chronicle just how bad 2020 was for property insurers. CoreLogic released a chronology …
Commercial property insurers who are already edgy after suffering historic losses from civil unrest got another jolt Wednesday when pro-Trump protestors smashed windows to gain entry into the U.S. Capitol. But there’s “a lot of mileage” between the Washington D.C. …
Global insurance losses from the COVID-19 pandemic will be higher this year than the $107 billion Lloyd’s of London had previously estimated, its Chairman Bruce Carnegie-Brown said on Wednesday. Carnegie-Brown told the Reuters Events Future of Insurance USA conference that …
Moody’s Investor Service said Wednesday that wildfires in the U.S. West have caused $5 billion to $8 billion in insured losses so far — an amount that would make it the third-worst year for fire damage in U.S. history. The …