It was the last day of the World Economic Forum in Davos and Wayne Caines, Bermuda’s minister of national security, was about to head home after an exhausting week. But before leaving, he told a group of blockchain enthusiasts, “If …
Warren Buffett said he doesn’t want Berkshire Hathaway Inc. being a leader on cyber insurance because neither he nor others in the industry really know the risk. “I don’t think we or anybody else really knows what they’re doing when …
Fitch Ratings’ outlook for global reinsurance remains negative given intense market competition, the influx of alternative capital that continues to pressure pricing and persistently low investment yields that strain reinsurer profitability. However, Fitch expects to affirm the majority of its …
Wells Fargo & Co. agreed to pay $480 million to settle a class-action lawsuit in which investors accused the bank of securities fraud related to its fake-account scandal. The settlement resolves the main class-action suit brought by shareholders targeting the …
Allianz Group said it has agreed to sell shares representing 8.4 percent of the share capital of Banco BPI to CaixaBank. The total purchase price for this transaction is 178 million euros or 1.45 euros per Banco BPI share. As …
Lloyd’s of London, AIG, Allianz and other insurers are ignoring assurances and establishing new hubs in Britain and the European Union before Brexit in March 2019 to ensure access to customers. The moves come despite a “standstill” transition agreement struck …
A federal judge has accepted a settlement that would allow those who lost power for days last summer on two North Carolina islands to divvy up more than $10 million. News outlets report that a federal judge on Wednesday approved …
Miami Beach’s tourism industry has suffered one blow after another in recent years. First, Brazil’s economy tanked and a strong U.S. dollar prompted would-be international travelers to stay home. Then Zika scared off visitors. By the time Hurricane Irma hit …
AssuredPartners, Inc. has promoted Joe Guercio to executive vice president of Operations, with a focus on EBITDA growth through managing its branch offices, the integration of new acquisitions, operational efficiencies – specifically through agency management systems, quality control and continuous …
Congress is headed for a “major showdown” over the flood insurance program, according to an insurance broker lobbyist who notes that the program expires July 31, right in the middle of hurricane season. That also happens to be the very …
