American International Group, Inc. announced that Catherine Duffy will join the company’s General Insurance business as Country Manager of Bermuda, at a date to be determined. In this role, Duffy will oversee AIG’s insurance operations and strategy in Bermuda, reporting …
Insurtech is often touted as the cure that will solve the insurance industry’s inefficient and antiquated processes – from distribution, to underwriting, to claims. While many insurers want to investigate the benefits of insurtech partnerships, most don’t have the first …
AXA announced today that it has obtained all regulatory approvals required to complete the proposed acquisition of XL Group Ltd. previously announced on March 5, 2018. The Paris-based global insurer said it expects to close on the acquisition of XL …
Chevron Corp. said on Friday an international tribunal ruled in its favor in an environmental dispute with Ecuador, finding the South American nation had violated its obligations under international treaties. The tribunal unanimously held that a $9.5 billion pollution judgment …
Here’s some grim back-of-the-envelope math for insurers: Hurricane Florence may wreak $15 billion to $20 billion in covered losses from wind and coastal storm-surge, if the past is any guide, according to catastrophe modeler Risk Management Solutions. That range is …
Leave it to catastrophe bonds to be among the most well-functioning debt markets out there. Issuance of “cat bonds” has climbed to more than $11 billion this year, about the same as this time in 2017, when sales hit a …
U.S. taxpayers who spent billions of dollars after a trifecta of hurricanes last year are poised to do so again after a fix to the nation’s troubled flood insurance program remains stalled in Congress — and as a dangerous new …
Federal investigators say speed and a lack of awareness were likely to blame for an accident last year near Philadelphia, Penn., involving three out-of-service SEPTA trains. A train rear-ended a stopped train near the 69th Street Station, causing several cars …
A Maine lobster wholesaler is suing one of its owners, claiming he embezzled nearly $1.5 million worth of lobsters. Sea Salt, which is a Saco-based restaurant and wholesale lobster company, alleges Matthew Bellerose created a sham customer who received thousands …
Two Massachusetts women are suing a New Hampshire hotel at the center of a Legionnaire’s disease outbreak. WMUR-TV reports that Louise Pare, of Gardner, Mass., and Celeste Billington, of Templeton, Mass., were diagnosed with Legionnaire’s disease after staying at The …
