Articles by Noor Zainab Hussain

Mass Shooting Insurance Rates Jump as Incidents Rise

The cost of buying insurance protection against mass shootings has spiked more than 10% in the United States this year following a string of deadly events, insurers said. The United States witnessed 293 mass shootings so far this year, according …

Insurer Travelers’ Profit Beats on Lower Catastrophe Losses

Property and casualty insurer Travelers Companies Inc. reported a 48% jump in quarterly profit that beat analysts’ estimates on Tuesday, as lower catastrophe-related claims cushioned a hit from investment losses. The company’s core income rose to $1.04 billion, or $4.22 …

AIG Looks at Cutting Insurance for Russia, Ukraine

AIG, one of the world’s biggest commercial insurers, is considering cutting cover for Russia and Ukraine, to shield itself from the risk of hefty claims as sanctions ratchet up and the war drags on, an insurance broker and a source …

Analysis – Cyber Insurers Face Large Ukraine War-Related Claims Despite Exclusions

Insurers face potential multi-billion dollar claims for cyber attacks related to Russia’s invasion of Ukraine, despite policy wording designed to get them off the hook for war, industry sources say. Following the Feb. 24 attack on Ukraine and Western sanctions …

Threat of War in Ukraine Biggest Risk for Insurers of Beijing Winter Olympics

The threat of war between Russia and Ukraine is the biggest risk for insurers offering coverage during the Beijing Winter Olympics as an outbreak of hostilities could force team withdrawals or appearance cancellations, industry sources say. Olympic Games, top events …

Global Life Insurers Adapt Pandemic Risk Models After Unexpected Jump in Claims

A coronavirus pandemic which lasts five years, another pandemic in a decade, and ever more transmissible variants are among the scenarios life insurers are predicting after COVID-19 claims jumped more than expected in 2021. The global life insurance industry was …

Tornadoes Have Pushed Insurers’ Weather Claims Above $105B for 2021

Devastation from tornadoes that slammed parts of the United States this month will push the insurance industry’s 2021 bill for weather-related claims well above the predicted $105 billion, industry experts said, and premiums should rise on worries that climate change …

Risky Business: Climate Change Turns Up Heat on Insurers, Policyholders

Tony and Jhan Dunn never thought they would leave California, where they grew up, built a life together and planned to retire. But after a wildfire swept through their Northern California town of Paradise three years ago, burning their home …

New York Directs Two Cryptocurrency Lending Platforms to Cease Activity

Two cryptocurrency lending platforms were asked to cease activities in New York by the state’s attorney general on Monday and three other platforms were directed to provide information about their business. The move comes weeks after New York Attorney General …

Israeli Fintech Pagaya Agrees to Go Public via $8.5B SPAC Deal

Israeli fintech Pagaya on Wednesday agreed to go public through a merger with special-purpose acquisition company EJF Acquisition Corp in a deal with an enterprise value of $8.5 billion. The deal will include a $200 million private investment in public …