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Updated: 44 min 37 sec ago

Hurricane Maria targets St. Croix and Puerto Rico after ripping up Dominica

Tue, 09/19/2017 - 14:55
(Reuters) — Hurricane Maria, the second maximum-strength storm to rage over the Caribbean this month, killed at least one person in Guadeloupe and barreled toward the Virgin Islands and Puerto Rico on Tuesday after devastating the small island nation of Dominica.

Irma flood, wind losses could reach $12 billion: CoreLogic

Tue, 09/19/2017 - 14:41
Insured flood losses from Hurricane Irma for commercial properties is estimated at $4 billion to $8 billion, with wind damage estimated at $2.5 billion to $4 billion, CoreLogic Inc. said Tuesday.

XL Catlin to move EU insurance operations to Ireland in response to Brexit

Tue, 09/19/2017 - 13:33
XL Group Ltd. says it will move XL Insurance Co. S.E., its principal European Union insurer, to Ireland from the United Kingdom in 2018 in response to Brexit.

Massachusetts sues Equifax as hack concerns spread to Canada

Tue, 09/19/2017 - 13:28
Massachusetts Attorney General Maura Healey filed a lawsuit on Tuesday against credit reporting firm Equifax Inc. following a breach that exposed the personal data of up to 143 million people, including 3 million in the state.

Insured vs. insured exclusion shields Beazley in D&O coverage dispute

Tue, 09/19/2017 - 13:12
Beazley Insurance Co. Inc. is not obligated to indemnify the directors of a now-dissolved company based on the insured vs. insured exclusion in its directors and officers liability policy, says a federal appeals court.

Mailman gets carried away with fraudulent workers comp claim

Tue, 09/19/2017 - 10:13
A U.S. Post Service employee in Cape May County has been charged with stealing more than $75,000 in federal workers comp benefits after vacation photos he posted on Facebook allegedly show him zip lining and rock rappelling while purportedly out of work with a wrist injury.

EU to propose stronger monitoring of UK financial firms after Brexit

Tue, 09/19/2017 - 08:23
(Reuters) — The European Commission is set to propose stricter controls of foreign financial firms that do business in the EU, a move that would extend European regulators' supervision over London after Britain leaves the bloc.

Hotel industry fights constant hacker exposures

Tue, 09/19/2017 - 06:41
Travelers who check into hotels may run into some uninvited guests in the form of hackers looking to steal their financial information, analysts warn.

How hard will Harvey and Irma hit the insurance sector?

Tue, 09/19/2017 - 06:35
There was general agreement among executives attending the Wholesale & Specialty Insurance Association’s 2017 Annual Marketplace last week that hurricanes Harvey and Irma would impact the market — but not on how severe or widespread that impact would be.

Hurricanes likely to create domino effect of claims, litigation

Tue, 09/19/2017 - 06:19
Hurricanes Harvey and Irma will likely cause a litany of claims and litigation beyond the obvious flooding and wind damage, according to several attorneys.

Myanmar's insurance industry likely to be liberalized

Tue, 09/19/2017 - 04:00
Myanmar is expected to liberalize its insurance industry this year, with 24 foreign insurers seeking licenses to operate in the country.

China Re's premium income rises nearly 17%

Tue, 09/19/2017 - 04:00
China Reinsurance (Group) Corp.'s aggregate premium income grew nearly 17% year over year to more than 24 billion Chinese yuan ($3.7 billion) in the first eight months of the year.

Hurricane Irma causes nearly $20 million of damage in Caribbean islands

Tue, 09/19/2017 - 04:00
Timothy Harris, prime minister of the Caribbean islands of Saint Kitts and Nevis, said that hurricane Irma caused an estimated $53 million Eastern Caribbean ($19.7 million) worth of damage.

Quake, hurricane damage nearly 340,000 hectares of crops in Mexico

Tue, 09/19/2017 - 04:00
Mexico's Ministry of Agriculture said that the Sep.7 earthquake damaged 138,000 hectares of crops including bananas, coffee and corn.

Hurricane Maria lashes Dominica

Tue, 09/19/2017 - 04:00
Hurricane Maria struck the Caribbean island of Dominica with Category 5 winds and rain causing floods and damaging houses.

Qatar Insurance closes branch in UAE amid diplomatic crisis

Tue, 09/19/2017 - 04:00
Qatar Insurance Co. S.A.Q. is closing its branch at Abu Dhabi in the United Arab Emirates as the local authorities have not renewed its license amid a diplomatic crisis between Qatar and its Gulf neighbors.

African risk capacity pool, disease control agency launch epidemics insurance policy

Tue, 09/19/2017 - 04:00
Bermuda-based African Risk Capacity Insurance Co. Ltd., the catastrophe insurance pool of the African Risk Capacity agency, and Ethiopia-based Africa Centers for Disease Control and Prevention have launched an outbreak and epidemics insurance policy for African governments.

Ironshore’s negligence charges against Navy in pollution case reinstated

Mon, 09/18/2017 - 14:30
A federal appeals court has reinstated negligence charges filed by Ironshore Specialty Insurance Co. against the U.S. government in connection with a Navy ship’s oil spill.