Business Insurance - Web News http://businessinsurance.com/section/news http://www.businessinsurance.com en-us Fri, 29 Apr 2016 08:17:41 EST 10 Stress tests highlight importance of diversified reinsurance capital for U.K. general insurers http://businessinsurance.com/article/20160429/NEWS09/160429770 20160429/NEWS09/160429770 The results from a series of stress tests for 26 U.K.-based general insurers conducted by the Bank of England's Prudential Regulation Authority have highlighted the importance of diversified reinsurance capital to these insurers, reports Artemis.bm. Fri, 29 Apr 2016 05:35:09 EST La Nina looms over El Nino-ravaged Asia http://businessinsurance.com/article/20160429/NEWS09/160429771 20160429/NEWS09/160429771 Experts have warned of a double-whammy of possible flooding from La Nina in Asia, which is already reeling from drought and other disasters due to El Nino, reports The Times of India citing Agence France-Presse. Fri, 29 Apr 2016 05:33:05 EST Ransomware accounts for quarter of recent cyber attacks in U.K.: Security firm ESET http://businessinsurance.com/article/20160429/NEWS09/160429772 20160429/NEWS09/160429772 Slovakia-based software security firm ESET, spol. s r.o. has said that ransomware constituted about a quarter of cyber attacks targeted at U.K.-based computer users between April 19 and 26 April, reports V3.co.uk. Fri, 29 Apr 2016 05:31:46 EST Drought, saline water intrusion cost Vietnam $286 million http://businessinsurance.com/article/20160429/NEWS09/160429773 20160429/NEWS09/160429773 The General Statistics Office of Vietnam has said that drought and saline water intrusion have cost the nation almost 6.4 trillion Vietnamese dong ($286 million) in the first four months of 2016, reported Xinhua. Fri, 29 Apr 2016 05:30:07 EST London P&I Club warns of dangers of shipping Indonesian coal http://businessinsurance.com/article/20160429/NEWS09/160429774 20160429/NEWS09/160429774 The London P&I Club has warned vessels about the risk of shipping Indonesian thermal or steam coal following a number of recent accidents, reported World Maritime News. Fri, 29 Apr 2016 05:28:45 EST Singapore Re to establish retakaful window in Malaysia's Labuan http://businessinsurance.com/article/20160429/NEWS09/160429775 20160429/NEWS09/160429775 Singapore Reinsurance Corp. Ltd. Fri, 29 Apr 2016 05:27:45 EST Arch Capital's net income hit by foreign exchange losses http://businessinsurance.com/article/20160429/NEWS09/160429776 20160429/NEWS09/160429776 Currency fluctuations have hit Bermuda-based insurer and reinsurer Arch Capital Group Ltd.'s net income in the first quarter of 2016, reported The Royal Gazette. Fri, 29 Apr 2016 05:26:44 EST New crop insurance scheme may soon cover crop damage caused by elephants http://businessinsurance.com/article/20160429/NEWS09/160429777 20160429/NEWS09/160429777 India's new crop insurance scheme – Pradhan Mantri Fasal Bima Yojana – may soon provide insurance cover for farmers in the event of crop damage due to elephant raids and migration, reported Daily News & Analysis. Fri, 29 Apr 2016 05:25:48 EST Regulator asks insurers to tread carefully when signing global reinsurance pacts http://businessinsurance.com/article/20160429/NEWS09/160429778 20160429/NEWS09/160429778 The Insurance Regulatory and Development Authority of India has asked insurers to avoid entering into common reinsurance arrangements on global basis with foreign entities when they lack input into the pacts, reports Business Standard citing the Press... Fri, 29 Apr 2016 05:24:40 EST House vote to encourage private flood insurance wins praise http://businessinsurance.com/article/20160428/NEWS06/160429780 20160428/NEWS06/160429780 Insurers and other groups praised Thursday’s vote by the U.S. House of Representatives in favor of the Flood Insurance Market Parity and Modernization Act. Thu, 28 Apr 2016 15:52:00 EST