Global insurance losses from the Russia-Ukraine war could range from $16 billion to $35 billion, with reinsurers expected to assume 50% of those claims, according to a report published by S&P Global Ratings. While recent articles in the press have …
The United Nations on Thursday announced the members of an expert group that will scrutinize corporate pledges to achieve net-zero emissions, an effort to prevent greenwashing as private sector climate plans proliferate. U.N. Secretary-General António Guterres said the group of …
Zurich Insurance Group announced it is bringing forward by 20 years its target to achieve net-zero emissions in its operations. It now aims to reach the goal by 2030, after implementing plans announced on March 31 last year to achieve …
Ukraine, a major producer of grain, oilseeds and steel products, will guarantee insurance payments to cargo vessels damaged in hostilities on its stretch of the Danube, according to the government decision published on Friday. Ukraine exports almost all its commodities …
People who owned units in a Florida oceanfront condominium building that collapsed last year will divide $83 million for property losses, with the compensation for families over the 98 deaths still to be determined, a judge ruled Wednesday. The money …
Reinsurers have boosted their 2022 probable maximum loss (PML) exposures as higher prices continues to attract more capital to property-catastrophe risks, according to Moody’s Investors Service. Reinsurers’ public disclosures of their Jan. 1, 2022 modeled probable maximum loss (PML) exposures …
Fitch Ratings downgraded California Earthquake Authority’s Issuer Default Rating and revenue bond ratings to ‘A-‘ from ‘A’. The Rating Outlook is Stable. The rating action follows the vote of the CEA’s Governing Board to reduce the target claims paying capacity …
A jury has awarded $102.5 million to two women who sued a Northern California school district over what they said was officials’ failure to stop a middle school teacher from sexually grooming and abusing them as minors. Parents had repeatedly …
The family of a man with mental health issues who was shot and killed by a Spokane County Sheriff’s Deputy in Washington will receive $1 million. The Spokane County Commissioners approved the federal civil rights lawsuit settlement this week, The …
KGM Underwriting Services, a UK specialist motor insurer and subsidiary of Howden Group, announced the acquisition of Eridge Underwriting Agency, a managing general agent (MGA) that caters for specialist and higher rated motor insurance. This acquisition, expected to complete in …