FEMA Grows Its Flood Reinsurance Plan with $500 Million Cat Bond August 1, 2018 By Andrew G. Simpson The Federal Emergency Management Agency (FEMA) has secured a reinsurance placement for the National Flood Insurance Program (NFIP) that for...
Senate Agrees with House to Renew Flood Insurance Program for 4 Months July 31, 2018 By Andrew G. Simpson Congress avoided a lapse in the federal flood insurance program when the Senate today voted 86-12 to extend authorization for...
Travelers Seeks Review of Court Ruling on Crime Insurance Loss Involving Email Fraud July 31, 2018 By Andrew G. Simpson Travelers Insurance is seeking a full Sixth Circuit court reconsideration of its three-judge panel ruling that said the insurer’s crime...
Chubb Q2’s Results Reflect Continued P/C Pricing Momentum July 25, 2018 By Andrew G. Simpson Chubb has a very good second quarter in both underwriting and investments, reporting net income of $1,294 million compared with...
Court Finds Travelers Crime Policy Covers Money Transfer Loss Due to Email Spoofing July 17, 2018 By Andrew G. Simpson For the second time in about a week, a federal appeals court has sided with a commercial policyholder where the...
P/C Insurers Double Q1 Profit on Tax Changes, Growing Economy, Lower Cat Losses July 16, 2018 By Andrew G. Simpson Tax reform, a growing economy and lower catastrophe losses helped U.S. property/casualty insurers more than double their first quarter profit...
Impact of Court Ruling Chubb Unit’s Crime Policy Covers ‘Spoofed’ Wire Transfer July 9, 2018 By Andrew G. Simpson In a closely-watched case on insurance coverage in an age of expanding cyber risk, a federal appeals court in New...
Fireworks Facts: 8 Deaths, 12,900 Injuries in 2017; $900M Sales Expected as States Ease Curbs July 2, 2018 By Andrew G. Simpson At least eight people lost their lives in fireworks mishaps in 2017 while another 12,900 ended up in hospital emergency...
Lloyd’s CEO Beale to Exit Next Year June 29, 2018 By Andrew G. Simpson Lloyd’s of London today announced that Chief Executive Officer Inga Beale will step down next year after leading the global...
Senate Passes Farm, Crop Insurance Bill with Flood Insurance Extension June 29, 2018 By Andrew G. Simpson The U.S. Senate passed (86-11) a Farm Bill that continues subsidies for farmers along with the federal crop insurance and...