Articles by Suzanne Barlyn

Travelers Comfortable with Its ‘Prudent’ Cyber Insurance Position

Travelers Cos. Inc. plans to stick to its recent growth pace for sales of cyber insurance, which protects businesses against hacking and other liabilities, despite potential to boost it, as the insurer assesses risks in the segment, its head of …

AIG Expanding Commercial Casualty Policies to Include Cyber

American International Group Inc. said it would include cyber coverage to its commercial casualty insurance during the first quarter of 2018, a move that would boost rates but make it clearer how customers are covered if they are the victim …

GOP Tax Plan Jeopardizes Bermuda Reinsurer Loophole

U.S. money managers with reinsurance companies in Bermuda and the Cayman Islands could lose a valuable loophole under Republican proposals to overhaul the tax code unveiled on Thursday. The plan includes a 20 percent excise payment on payments from domestic …

AIG Expanding Commercial Casualty Policies to Include Cyber Coverage

American International Group Inc. said it would include cyber coverage to its commercial casualty insurance during the first quarter of 2018, a move that would boost rates but make it clearer how customers are covered if they are the victim …

Global Re/Insurers Seek Premium Hikes After Costly 3rd Quarter

Insurers and reinsurers around the globe are looking to raise rates after what looks set to be their most costly quarter on record. Hurricanes Irma and Maria alone caused as much as $135 billion in insured losses, according to modeling …

All Wildfire Damage to California Wineries May Not be Covered by Insurance

Wineries damaged by wildfires tearing through Northern California are starting insurance claims, and at least some of the smaller vintners are likely to find limits in their policies mean payouts fall short of rebuilding costs. Gaps in coverage and a …

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 …

Mounting Catastrophe Claims Could Weaken Re/Insurers’ Capital Reserves: Fitch

Ratings downgrades for global insurers and reinsurers are becoming more probable as they face more than $100 billion in 2017 catastrophe losses, a figure that threatens to weaken their capital reserves, Fitch Ratings Inc. said in a report on Tuesday. …

Allstate Would Consider Selling Private Flood Insurance If Federal Program Is Revamped

Allstate Corp.’s Chief Executive Officer Tom Wilson on Tuesday called on U.S. lawmakers to overhaul a government subsidized flood insurance program, calling for a more streamlined system that does not overburden taxpayers. Allstate, the second-largest U.S. homeowners’ insurer based on …

Firms Hit by Harvey, Irma Hope Business Interruption Coverage Pays Off

Business owners who are trying to get back on track after hurricanes Harvey and Irma now face a different sort of challenge: trying to recoup lost income from their insurers. Exclusions in the fine print of policies, along with waiting …