A Chinese container ship hit a wall of the new lane of the Panama Canal, a Canal Authority official and a local ship agent said on Monday, the third such incident since the expanded waterway opened one month ago amid …
Pen Underwriting announced that Adrian Scott has been appointed to the newly created role of head of Cyber Liability. Scott takes responsibility for enhancing Pen Underwriting’s capabilities in cyber risk management and insurance, building a dedicated team of sector specialists …
Bermuda-based Everest Re Group Ltd. reported second quarter 2016 net income of $155.7 million, or $3.67 per diluted common share, compared to net income of $209.1 million, or $4.68 per diluted common share, for the same period in 2015. After-tax …
Catalina Holdings (Bermuda) Ltd. announced its wholly owned subsidiary Catalina Holdings UK Ltd. has signed a definitive agreement to acquire Hartford Financial Products International Ltd. (HFPI) and Downlands Liability Management Ltd. (DLM) from subsidiaries of The Hartford Financial Services Group Inc. …
The storms that hit Saskatchewan, Manitoba and Ontario in Canada on June 24 and 25 caused more than C$34 million ($25.9 million) in insured damage, according to estimates from Catastrophe Indices and Quantification Inc. (CatIQ).* Wind, flash floods and hail hit several areas, resulting in nearly 3,500 insurance …
Berkshire Hathaway Specialty Insurance Company (BHSI) announced it has introduced cyber liability insurance in Australia and named Emma Osgood as head of Cyber Liability in the region. BHSI is focusing on the mid-to-large-tier market segment and will tailor solutions for …
The steady advance of the internet of things (IoT) presents a huge number of opportunities for insurers – as well as threats, according to a digest published by Efma*. The rise in connected homes, connected cars and the use of …
As internet-connected and, eventually, driverless vehicles roll off production lines, traditional motor insurers need to adapt to ward off competition from car manufacturers. Insurers have struggled for years to make a profit from motor insurance due to intense competition …
Pacific Investment Management Co. named Emmanuel “Manny” Roman as its next chief executive officer, replacing Douglas Hodge, who presided over a tumultuous time that included the departure of Bill Gross and a plunge in assets at the firm. Roman, 52, …
A lawsuit seeking to force Prime Minister Theresa May to consult parliament before beginning Britain’s exit from the European Union will be taken “very seriously” and may reach the Supreme Court by December, Judge Brian Leveson said. “The court takes …