Business Insurance - _Brokers & Insurers en-us Fri, 19 Sep 2014 16:43:09 EST 10 Swiss Re executive says reinsurer has plans to cut catastrophe coverage: Report 20140919/NEWS04/140919812 Swiss Re Ltd. apparently plans to cut its catastrophe coverage and compensate by looking to new lines of business as pricing declines hit the reinsurance sector, a senior executive said. Fri, 19 Sep 2014 15:01:01 EST Spencer Educational Foundation raises more than $1M for scholarships 20140919/NEWS04/140919814 NEW YORK — The Spencer Education Foundation Inc. raised more than $1 million at the organization’s annual gala Thursday at the Waldorf-Astoria in New York. Fri, 19 Sep 2014 14:11:09 EST Passed over to be CEO, AIG's life insurance head resigning 20140919/NEWS04/140919823 Jay S. Wintrob, president and CEO of AIG Life & Retirement, is leaving the company to “pursue other interests,” AIG said Thursday as AIG President and CEO Peter D. Hancock announced a new leadership structure for the insurer. Fri, 19 Sep 2014 09:35:17 EST John Parente joins Berkshire Hathaway Specialty Insurance life sciences 20140918/NEWS04/140919846 (Reuters) — Berkshire Hathaway Specialty Insurance on Thursday said it was expanding its underwriting into the risks of life sciences, naming John Parente to head that area. Thu, 18 Sep 2014 13:40:47 EST Reinsurers under pressure to mark out global or specialist turf 20140918/NEWS04/140919850 (Reuters) — Reinsurers are being squeezed by price competition and subdued demand from insurers for their products, and traditional mergers may not be enough to save those that lack either global reach or specialized focus. Thu, 18 Sep 2014 12:33:15 EST Insurers turn to big data to help identify risks 20140917/NEWS04/140919868 (Reuters) — Insurance companies are increasingly turning to "big data" from satellites, social media and even cigarette sales at gas stations to help identify risks and build up customer profiles. Wed, 17 Sep 2014 13:43:30 EST Insurance groups hail House approval of capital standards bill 20140917/NEWS04/140919873 Insurance groups are welcoming the House's approval on Tuesday of legislation that would give the Federal Reserve more leeway in determining accounting standards. Wed, 17 Sep 2014 11:43:49 EST OFF BEAT: Beware the badger and other insurance claim follies 20140916/NEWS04/140919889 “Beware the Badger” would have been sound advice for a 71-year old woman from Bath, England, who locked a badger in her shed only to have it smash through a wall to escape, leading to an insurance claim. Tue, 16 Sep 2014 13:08:36 EST Reinsurance broker TigerRisk opens Bermuda office 20140916/NEWS04/140919892 TigerRisk Partners L.L.C. has opened an office in Hamilton, Bermuda to provide retrocessional coverages as well as traditional reinsurance brokerage services. Tue, 16 Sep 2014 12:21:25 EST Alternative capital continues to transform reinsurance sector: Guy Carpenter 20140916/NEWS04/140919893 The ongoing influx of alternative capital is continuing to have a profound effect on the traditional reinsurance sector, according to a report issued Tuesday by reinsurance brokerage Guy Carpenter & Co. L.L.C. Tue, 16 Sep 2014 12:11:20 EST