Articles by Carolyn Cohn, Simon Jessop and Noor Zainab Hussain

Russia World Cup Insurance Premiums Rise on Risks of Terrorism, Hooliganism

The risk of terror attacks and damage from hooligans has pushed up premiums for businesses and players buying insurance for the soccer World Cup in Russia compared to the previous event in Brazil, brokers and insurers say. The insured value …

More School Districts Buying Active Shooter Insurance

Insurance broker Paul Marshall can count on his phone ringing in the aftermath of a school shooting. Since the Feb. 14 shooting at a Florida high school, where 17 people were killed and more than a dozen injured, seven South …

North-South Korea Tensions, Cyber Threats Worry Insurers of Olympics

If South Korea’s Winter Olympics go off without a hitch this month, organizers will not be alone in toasting success. Their insurers will also be celebrating a tidy profit. The Games are being staged about two hours’ drive from one …

UK Auto Insurer Direct Line Offers Tesla Drivers 5% Discount if They Use ‘Auto-Pilot’

Britain’s largest motor insurer Direct Line is offering Tesla Inc drivers in Britain a 5-percent discount for switching on the car’s autopilot system, seeking to encourage use of a system it hopes will cut down on accidents. The move – …

Puerto Rico Power Outage to Mean More Business Interruption Claims

Puerto Rico’s island-wide power outage will mean a surge in insurance claims for lost business income that will increase the already high cost of damage caused by Hurricane Maria, likely tipping some big reinsurers into the red this year, according …

Beazley Estimates $150M Earnings Hit From Hurricanes, Earthquakes

Lloyd’s of London insurer Beazley said on Friday it reckoned that its losses from hurricanes Harvey, Irma and Maria in the Caribbean and southern United States and a series of earthquakes in Mexico would reduce its 2017 earnings by about …

Insurers Adapt Terrorism Policies with Loss of Attraction, Violent Acts, Other Coverages

The changing nature of attacks in Western cities has led insurers to offer new policies, from straightforward cover for business lost due to police cordons to more risky compensation for declines in tourism. Terrorism insurance policies were developed after the …

Forecasters Lower Matthew Loss Estimates

On Friday, a catastrophe modeling firm slashed its estimate for insurance losses from Hurricane Matthew on Friday, as the storm skirted Florida but failed to make landfall. Kinetic Analysis had estimated the insured losses on Thursday at $25 billion, but …

Could Hurricane Matthew’s Insured Losses Surpass Sandy’s?

A hurricane threatening the first direct hit on the United States in more than a decade could cause insurance losses of $25-30 billion and be the second costliest U.S. hurricane on record for insurers, according to initial industry estimates. Hurricane …

Deutsche Bank Sells Insurance Unit to Britain’s Phoenix Group

Deutsche Bank AG has sold its British insurance business Abbey Life to Phoenix Group Holdings as it sheds non-core assets and reduces its balance sheet in an effort to reassure anxious investors and meet regulators’ demands. Phoenix, Britain’s largest owner …