National News

GE Erases ‘Too-Big-to-Fail’ Tag with Sale of Financial Businesses

General Electric Co. won approval to drop its designation as a too-big-to-fail financial institution, capping a transformation that has included the sale of nearly all of its lending business. The decision marks the first time a company has been granted …

5 Specialty Insurance Coverages Reserved for Municipal Airports

Municipal airports, as well as the authorities and fix-base operators that manage many of their activities, must navigate a wide range of potential liability exposures related to the safety and security of passengers, aircraft, materials and equipment on their premises. …

The Hartford’s Berner Joins Allied World’s Public D&O Team

Allied World Assurance Co. has appointed Marc Berner to its North American Public Directors and Officers (D&O) underwriting team.  Berner will be based in New York in the role of vice president, Public and Private Financial Institutions, D&O. Berner has …

Chubb’s Sandelands Joins CNA as Senior VP, Commercial Underwriting Services

CNA announced the appointment of Barbara Sandelands as senior vice president, Commercial Underwriting Services. In this newly created role, she is responsible for driving the overall strategic direction and general management of underwriting services. Sandelands reports to Julie Stephenson, Commercial …

Senate Zika Funding Fails as Democrats Balk at Strings Attached

Senate Democrats on Tuesday blocked Republicans’ plan to partially fund President Barack Obama’s request for funding to tackle the Zika virus and attach it to other items Democrats dismissed as partisan, setting off a bitter round of sniping ahead of …

Anthem Says It’s Not Walking Away from Cigna Merger

Anthem Inc. said it’s not in discussions with Cigna Corp. to end their $48 billion tie-up, as speculation about the health insurance deal’s fate mounts. The New York Post reported earlier that Anthem may be ready to walk away, citing …

How U.S. and EU Differ in Handling Volkswagen Diesel Scandal

If you own a Volkswagen with a diesel engine in the U.S., the company will buy back your car and give you as much as $10,000. If you drive in Europe, you may only get a piece of pipe. As part …

Study: Economic Costs of Pandemic in U.S. Could Be $34-45 Billion

A pandemic influenza outbreak in the United States could have economic costs nearly double the total amounts experts have previously calculated, depending on how the public, government and businesses respond to an epidemic, according to policy and risk experts in …

Ironshore’s Pembroke Agency Adds Cyber Coverage to Financial Institution Crime Policies

Ironshore’s Pembroke Managing Agency Limited has updated its Financial Institutions Crime program to include cyber fraud and cyber extortion. Pembroke’s crime coverage for Financial Institutions indemnifies a company for direct financial loss resulting from internal and external fraud incidents. The …

U.S., China, EU Vow Crackdown on Unsafe Products Sold Online; Eye Hoverboard Standards

U.S., European and Chinese regulators say they will jointly enforce product safety in online commerce, and an American official said they are making progress on crafting standards for hoverboards. The statement last week by American, European Union and Chinese officials …

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