A Texas wind farm owned by BlackRock Inc. is locked in a $100 million court battle with Citigroup Inc. over losses caused by the devastating winter storms in Texas. The BlackRock unit, Mariah Del Norte, sells power to Citigroup under …
The value of losses from crimes against jewelers jumped by 89.1% in 2019 even though the number of thefts, burglaries and robberies decreased slightly, according to a new report by the Jewelers’ Security Alliance. The organization said it received reports …
Global insurance losses from the COVID-19 pandemic will be higher this year than the $107 billion Lloyd’s of London had previously estimated, its Chairman Bruce Carnegie-Brown said on Wednesday. Carnegie-Brown told the Reuters Events Future of Insurance USA conference that …
Insurer American International Group Inc racked up $730 million in COVID-19-related losses during the first half of the year, its chief executive officer said on Tuesday. The pandemic is a “formidable and ongoing catastrophe,” AIG CEO Brian Duperreault said during …
Lloyd’s of London, the world’s largest insurance exchange, estimates the industry will suffer around $203 billion in losses from the coronavirus pandemic this year. The projected losses include about $107 billion from underwriting claims, with the rest from insurers’ investment …
If the novel COVID-19 pandemic is brought under control soon, the disease’s impact on the insurance industry as a whole may be pretty much a wash. If not, the industry may be on the verge of an historic catastrophe. A …
LONDON — World insurers told governments on Monday that making them pay out on losses suffered due to the coronavirus that were not covered by policies risked destabilizing the insurance industry. With the global economy hammered by measures to halt …
A Missouri jury’s $265 million award to peach grower Bill Bader in his lawsuit against herbicide providers Bayer and BASF has raised the stakes for the two companies as at least 140 similar cases head to U.S. courts later this …
At the outset, power outages, wildfires, and vaping bans do not appear similar at all, but in the rush to protect consumers and constituents from harm, companies and state legislators may be creating an entirely new, uninsured claim type. Insurance …
ACE Limited announced preliminary losses in the fourth quarter for the ACE Group of companies attributable to Superstorm Sandy in the northeastern United States are currently estimated to be $380 million after tax, net of reinsurance and including reinstatement premiums. …