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President Obama signs TRIA extension bill into law

By: Mark A. Hofmann

Published January 13, 2015 - 9:17am CST

President Barack Obama has signed into law legislation extending the federal terrorism insurance backstop through Dec. 31, 2020.

Insurer MetLife plans to sue U.S. regulators over tougher rules

Published January 13, 2015 - 8:36am CST

(Reuters) — MetLife Inc. said it would file a lawsuit Tuesday against regulators subjecting it to tougher oversight, challenging their verdict that the firm harbors enough risk to bring down the financial system in a crisis.

XL CEO: Catlin buyout will create a top 10 global reinsurer

By: Mark A. Hofmann

Published January 09, 2015 - 2:33pm CST

XL Group P.L.C.'s pending acquisition of Catlin Group Ltd. for about $4.3 billion will give the combined entity the size to operate profitably in a difficult reinsurance market, XL CEO Mike McGavick said Friday.

PartnerRe Asia licensed as reinsurer by Singapore Monetary Authority

By: Mark A. Hofmann

Published January 09, 2015 - 1:36pm CST

The Monetary Authority of Singapore has licensed PartnerRe Ltd.'s Partner Reinsurance Asia Pte. Ltd. to operate as a non-life and life reinsurer, Pembroke, Bermuda-based PartnerRe announced Thursday.

Senate approves federal terrorism insurance backstop

By: Mark A. Hofmann

Published January 08, 2015 - 2:16pm CST

The Senate on Thursday followed the House of Representatives’ lead by approving legislation that would reinstate the federal terrorism insurance backstop through the end of 2020.

Berkshire Hathaway Specialty Insurance adds pollution coverage

By: Shelby Livingston

Published January 08, 2015 - 1:03pm CST

Berkshire Hathaway Specialty Insurance, a unit of Berkshire Hathaway Inc., has expanded its U.S. casualty liability products to include pollution coverage.

Insurance, business leaders urge Senate action on TRIA renewal

By: Mark A. Hofmann

Published January 08, 2015 - 9:45am CST

A broad coalition of business and insurance groups has written the Senate urging swift passage of the Terrorism Risk Insurance Program Reauthorization Act of 2015.

OFF BEAT: Nicole Kidman's neighbor act doesn't hold water

Published January 08, 2015 - 9:24am CST

Nicole Kidman is in deep water for flooding her downstairs neighbor's Manhattan home.

House passes bill to extend terrorism insurance backstop through 2020

By: Mark A. Hofmann

Published January 07, 2015 - 2:39pm CST

Moving quickly after the federal terrorism insurance program expired on Dec. 31, 2014, the House of Representatives on Wednesday overwhelmingly approved a bill to extend the terrorism insurance backstop until the end of 2020.

More employers move pre-Medicare retirees to exchanges, high-deductible plans

By: Jerry Geisel

Published January 06, 2015 - 1:43pm CST

Employers are considering a variety of approaches to better control the cost of health care coverage to pre-Medicare eligible retirees — including shifting to high-deductible plans and moving to private or public insurance exchanges.

A.M. Best maintains negative outlooks for insurance, reinsurance sectors

By: Matthew Lerner

Published January 06, 2015 - 11:58am CST

A.M. Best Co. Inc. is maintaining its negative outlook for both the global reinsurance and U.S property/casualty insurance sectors because of ongoing challenges facing both, the rating agency said in two new reports.

Former Aon exec to head Lockton's U.S. property insurance practice

By: Shelby Livingston

Published January 06, 2015 - 11:24am CST

Lockton Cos. L.L.C. has hired former Aon P.L.C. executive Michael Andler as executive vice president and head of its U.S. property insurance practice.

House could vote this week on TRIA reauthorization

By: Mark A. Hofmann

Published January 06, 2015 - 10:35am CST

Insurance industry groups are hailing House of Representatives leaders' stated intention to move swiftly on legislation that would reinstate the federal government's terrorism insurance backstop program.

Acappella launches as insurance holdings company

By: Sarah Veysey

Published January 06, 2015 - 9:49am CST

Acappella Group Holdings Ltd. on Tuesday said it has launched as an insurance holdings company that will operate a managing general agency business and a fund management company.

AirAsia's insurers see 'no problems' with claims: Indonesia regulator

Published January 06, 2015 - 9:41am CST

(Reuters) — Insurers have begun processing claims in the crash of an Indonesia AirAsia aircraft last month and hope to identify the beneficiaries by the end of January, an official from Indonesia's financial regulator said Tuesday.

Commercial property/casualty market poised for soft cycle: MarketScout

By: Mark A. Hofmann

Published January 05, 2015 - 11:32am CST

The commercial property/casualty insurance market could be about to turn soft, according to the CEO of Dallas-based electronic insurance exchange MarketScout.

Brit launches special purpose reinsurer

By: Matthew Lerner

Published January 05, 2015 - 10:58am CST

Brit P.L.C. has created a special purpose reinsurer to provide collateralized supports for the carrier's 2015 property treaty portfolio, Brit announced Monday.

Demand grew as reinsurer capital rose to $575B in 2014

By: Sarah Veysey

Published January 05, 2015 - 9:41am CST

Reinsurer capital grew to $575 billion over the course of last year with $62 billion of that total being deployed alternative capacity, according to a report issued Monday by Aon Benfield, the reinsurance brokerage arm of Aon P.L.C.

Gard leads insurance coverage for ship grounded off the coast of England

By: Sarah Veysey

Published January 05, 2015 - 9:27am CST

Gard P&I (Bermuda) Ltd. is the protection and indemnity insurer for a ship carrying automobiles that was deliberately run aground off the south coast of England by its captain after developing a severe list.

Solvency II capital rules may spark insurer mergers and acquisitions

By: Sarah Veysey

Published January 04, 2015 - 6:00am CST

As insurers and reinsurers across Europe make their final preparations for Solvency II, the introduction of the long-awaited risk-based capital rules may spark merger and acquisition activity.

Major catastrophe only thing capable of hardening commercial property market

By: Mark A. Hofmann

Published January 04, 2015 - 6:00am CST

What would it take to turn the current buyer-friendly commercial property market?

TRIA nonrenewal expected to disrupt primary insurance market

By: Sarah Veysey

Published January 04, 2015 - 6:00am CST

The nonrenewal of the U.S. Terrorism Risk Insurance Program Reauthorization Act of 2007 is likely to have a disruptive effect on many primary insurance buyers, according to sources.

TRIA expiration adds uncertainty to commercial property insurance market

By: Mark A. Hofmann

Published January 04, 2015 - 6:00am CST

Until late last month, the commercial property market was a buyers' market unlike any that had recently been seen during the year-end renewals.

Commercial liability rate increases slow as more insurers vie for business

By: Matthew Lerner

Published January 04, 2015 - 6:00am CST

The commercial liability insurance market remains competitive going into Jan. 1 renewals, with most experts forecasting low single-digit increases amid increasing insurer competition.

UP CLOSE: Jonathan Morgan

Published January 04, 2015 - 6:00am CST

LONDON-BASED BUSINESS DEVELOPMENT MANAGER

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