Most middle-market firms experienced a recovery following the height of disruptions caused by COVID-19 and remain mostly optimistic about the global economy, but business risks loom large. According to a survey of 1,000 executives by Chubb and the National Center …
The fire on the cargo ship Felicity Ace, which had burned for more than a week, is likely extinguished and the vessel is now being towed, according to the operator MOL Ship Management. The ship had been transporting thousands of …
With unfavorable development and product mix changes propelling fourth-quarter and full-year loss 2021 ratios into the 90s—up 20 points over comparable 2020 periods—Lemonade guided shareholders that results will get worse in 2022. “2022 is expected to be our year of …
California Insurance Commissioner Ricardo Lara announced new regulations he believes will improve wildfire safety and drive down the cost of insurance for homeowners and businesses. The proposed regulations, which could be in effect by this summer, call for insurance companies …
German reinsurance group Munich Re on Wednesday forecast a 14% jump in profit this year as it reported a bounceback in 2021 from the coronavirus pandemic despite big claims from natural disasters. Marked by devastating hurricanes and cold snaps in …
After his house burned down in 2015, Rick Merechka turned in a sworn proof of loss statement telling his insurance company that the replacement value of his household goods was $607,640. But in December 2010, Merechka and his wife at …
The operator of Felicity Ace, the ship transporting thousands of Porsches, Lamborghinis and other Volkswagen AG vehicles, said Tuesday it assumes the car carrier is still on fire almost a full week after the crew abandoned ship. Two large tugboats …
A Chicago brewery was destroyed by a dramatic blaze early Feb. 21 that fire officials believe started in a nearby apartment building. The Twisted Hippo partially collapsed due to the fire which started about 3:30 a.m. in the Albany Park …
Nexus Underwriting Management Ltd. (NUML), the London-based independent specialty managing general agent, announced it will be renamed Kentro Capital Ltd. Nexus Underwriting (Nexus), the specialty managing general agent, and Xenia Broking (Xenia), the leading credit insurance and surety distribution specialist, …
A push to make London more attractive as a global financial center after Brexit must not threaten high standards of solvency and behavior at banks, insurers and markets, the International Monetary Fund said on Wednesday. The IMF said in its …