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26
07, 2016
Everest Re Group Reports Q2 Net Income of $155.7M vs. $209.1M in Q2 2015
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 …
26
07, 2016
How Brexit Raises Risk of Financial Instability for U.S.
The U.S. financial system faces greater potential instability due to Britain’s decision to leave the European Union while low and negative interest rates also raise risks, a U.S. government monitor said on Monday. In its biannual update on U.S. stability, …
26
07, 2016
Judge Hits Uber’s Background Check on Passenger Bringing Price-Fixing Suit
A federal judge on Monday banned Uber Technologies Inc. and its Chief Executive Travis Kalanick from using information from a background check on a passenger bringing a price-fixing lawsuit, saying the investigative firm conducting the probe may have engaged in …
26
07, 2016
Catalina to Buy Hartford Financial Products & Downlands Liability Management
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. …
20
07, 2016
Risk Managers Fear Cyber and Liability Risks of Autonomous Vehicles: Survey
Cybersecurity is the biggest concern for companies evaluating risk in the nascent self-driving vehicle industry, according to a survey conducted by Munich Re. The world’s second-biggest reinsurer found that 55 percent of corporate risk managers surveyed named cybersecurity as their …
20
07, 2016
Bassman Completes Acquisition of Ascend Insurance Brokerage
Dallas-based Ascend Insurance Brokerage President and CEO Paul Bassman has closed on the acquisition of the company, purchasing the business from James Chippendale, who founded Ascend in 2001. Ascend specializes in the entertainment business and has placed coverage for hundreds of clients, …
20
07, 2016
Iowa Governor Issues Disaster Proclamation for 3 Counties
A disaster emergency proclamation has been issued for three Iowa counties pummeled in weekend storms. The proclamation issued by Gov. Terry Branstad lets state resources be used in storm recovery in Benton, Humboldt and Wright counties. The storms damaged apartment …
20
07, 2016
Prosecutors Reduce Counts Against Texas Lawyer in BP Oil Spill Fraud Case
A Texas lawyer and six co-defendants are now facing a reduced indictment of 73 charges, instead of 95, at federal trial on accusations that they faked more than 40,000 damage claims after the BP oil spill in 2010. Online court …
20
07, 2016
2 New Insurers Approved for Doing Business in Arkansas
Arkansas Insurance Commissioner Allen Kerr has approved two new out-of-state insurers to do business in the state. Medical Liability Alliance (MLA) of Jefferson City, Mo., has been granted authority to offer casualty insurance. MLA, a stock property/casualty insurance company formed in …
20
07, 2016
Minnesota Towns Continue to Struggle with Flood Damage
Parts of east-central Minnesota are still trying to cope with floodwaters and subsequent damage nearly a week after torrential rains fell across a huge swath of the state. Kanabec County Sheriff Brian Smith told Minnesota Public Radio that communities flooded …