Insurance

Firefighters worked overnight to contain deadly blazes in Greece and Spain that have forced the evacuation of thousands of residents and tourists. A wildfire is still burning in an inaccessible part of the Aegean island of Chios, where coastguard vessels …

Moments after an explosion erupted at a U.S. Steel plant outside Pittsburgh, company firefighters, local responders and employees raced in to rescue people from the smoldering wreckage. They were able to free one injured worker who was whisked to a …

Earlier this month, Standard & Poor’s Global Ratings announced another downgrade for State Farm General Insurance Co., lowering the California company’s financial strength rating to A- in spite of a show of financial support from its parent. In May, S&P …

Russian hackers briefly took control of a dam in Norway earlier this year, the head of the Nordic country’s counter-intelligence agency said on Wednesday, the first time Oslo has officially attributed the cyberattack to its neighbor. While in command of …

Australia’s financial regulator is suing A$70 billion ($46 billion) pension fund Mercer Super, accusing it of failing to report multiple investigations into serious member services issues. In a Federal Court filing, the Australian Securities and Investments Commission alleged between October …

Swiss Re AG has set up a task force to see how the tariffs installed by the United States against Switzerland and other countries is impacting the Zurich-based reinsurer. Chief Executive Officer Andreas Berger said he doesn’t see the tariffs …

Hong Kong’s central business district and outer airport were hit by violent gusts and a deluge of heavy rain on Thursday, with the city again issuing its highest rain warning as Tropical Storm Podul passed the region. Parts of Hong …

Nigeria increased capital requirements for insurance businesses fivefold and gave operators a year to comply or risk losing their licenses. The capital threshold for non-life insurers was raised to 15 billion naira ($9.8 million) from 3 billion naira that of …

A poll of workers recently hired into the property/casualty insurance industry conducted during a Travelers Institute webinar last month produced some unusual results, surprising one webinar panelist who leads a key business segment at Travelers. Only 20 percent of responding …

Sen. Adam Schiff recently reintroduced his Incorporating National Support for Unprecedented Risks and Emergencies (INSURE) Act to create a federal catastrophic reinsurance program. The insurance industry promptly reintroduced their opposition. “The INSURE Act may sound helpful on paper but would …