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XL offers insurance for risks from chemical, nuclear and other weapons

By: Shelby Livingston

Published December 19, 2014 - 11:03am CST

XL Group P.L.C. has launched a liability insurance product covering chemical, biological, radiological and nuclear weapons events.

Rating agencies take calm approach to TRIA expiration

By: Mark A. Hofmann

Published December 19, 2014 - 11:01am CST

The lapse of the federal governments’ terrorism insurance backstop program is unlikely to have any short-term impact on the ratings of insurance companies, according to rating agencies.

MetLife says U.S. regulators declared it 'systemically' important

Published December 19, 2014 - 8:57am CST

(Reuters) — U.S. regulators have declared insurer MetLife Inc. so big that its failure could destabilize financial markets, a designation that brings extra regulation.

India looks to sway Americans with nuclear power insurance plan

Published December 19, 2014 - 8:45am CST

(Reuters) — India is offering to set up an insurance pool to indemnify global nuclear suppliers against liability in case of a nuclear accident in a bid to unblock billions of dollars in trade held up by concerns over exposure to risk.

Ransomware hacks an emerging risk for companies

By: Judy Greenwald

Published December 19, 2014 - 8:09am CST

SINGAPORE — “Ransomware,” a type of hack whereby a company's employees innocently click on a malware link that apparently originates from inside the company and a message appears saying all of a company's data will be encrypted and inaccessible unless a ransom is paid, has so far been confined to a large extent to Australia, a Microsoft Corp. security executive said.

This week's Top 10 features on BusinessInsurance.com

Published December 19, 2014 - 6:00am CST

Find out which of this week's features on BusinessInsurance.com were the most popular.

ISO policy contract language for terrorism cover triggered

By: Matthew Lerner

Published December 18, 2014 - 3:22pm CST

The sunset of the federal government's terrorism insurance backstop will trigger the activation of Insurance Services Office Inc.'s conditional commercial policy contract language for terrorism cover, ISO said Thursday.

Ace buying Fireman's Fund high-net-worth business for $365 million

By: Shelby Livingston

Published December 18, 2014 - 3:19pm CST

Ace Ltd. on Thursday announced it has signed an agreement to acquire the Fireman's Fund Insurance Co.'s U.S. high-net-worth personal lines insurance business from Munich-based Allianz S.E. for $365 million.

Rise of the car-sharing apps poses threat to auto sector

Published December 18, 2014 - 2:59pm CST

(Reuters) — The humble smartphone could throw a spanner in the works of the car sector's post-crisis turnaround, with the big manufacturers facing a long-term threat from apps that make it easier and cheaper to share or hire vehicles than to buy them.

Workers comp-specific Ebola care guidelines take sick worker's perspective

By: Shelby Livingston

Published December 18, 2014 - 2:28pm CST

Managed care services provider Genex Services L.L.C. on Wednesday said it has developed workers compensation-specific clinical guidelines for treating Ebola and the related Marburg virus from an injured worker's perspective.

Deere to sell crop insurance business to Farmers Mutual Hail

By: Judy Greenwald

Published December 18, 2014 - 2:11pm CST

Deere & Co. said Thursday it has reached a definitive agreement to sell its crop insurance business to West Des Moines, Iowa-based Farmers Mutual Hail Insurance Co. of Iowa.

U.S. weighs response to Sony hacking attack blamed on North Korea

Published December 18, 2014 - 1:55pm CST

(Reuters) — The United States was considering possible options on Thursday in response to a major cyber attack on Sony Pictures blamed on North Korea, amid calls for tougher sanctions on Pyongyang to cut it off from the global banking system.

Avon to pay $135M in fines over bribes to Chinese officials

By: Judy Greenwald

Published December 18, 2014 - 1:47pm CST

Avon Products Inc. will pay $135 million to settle charges that its China unit concealed more than $8 million in gifts, cash and non-business meals, travel and entertainment it gave to government officials to obtain and retain business benefits.

Cooper Gay launches reinsurance unit in Uruguay

By: Shelby Livingston

Published December 18, 2014 - 11:12am CST

Cooper Gay Swett & Crawford Ltd. on Wednesday said it has launched Cooper Gay Uruguay to place facultative and treaty reinsurance for personal, health, property and casualty lines for insurance companies in the region.

Sony cancels N. Korea movie in apparent win for Pyongyang hackers

Published December 18, 2014 - 10:54am CST

(Reuters) — Sony Pictures has canceled the release of a comedy on the fictional assassination of North Korea's leader, in what appears to be an unprecedented victory for Pyongyang and its abilities to wage cyber-warfare.

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