FRANKFURT/MUNICH — German reinsurance group Munich Re will no longer insure against events canceled due to pandemics, a board member said on Tuesday. The world’s largest resinsurer is making the change after it faced large losses this year in the …
CogniSure Launches Loss Run Analytics Tool CogniSure announced the launch of a product that uses artificial intelligence to extract loss run data from insurance carrier reports that come in a variety of formats. The company, with a U.S. headquarters in …
Moody’s Investor Service said Wednesday that wildfires in the U.S. West have caused $5 billion to $8 billion in insured losses so far — an amount that would make it the third-worst year for fire damage in U.S. history. The …
Some of the world’s biggest reinsurers are bracing for potential losses running into tens of millions of euros after last week’s explosion that ravaged much of downtown Beirut. Property damage alone from the blast, which killed at least 171 people …
Insured losses from the Beirut port warehouse explosion are likely to total around $3 billion, similar to those from an explosion at the Chinese port of Tianjin in 2015, industry sources and analysts say. The blast on Tuesday, the biggest …
Insurer Zurich has decided not to renew cover for the Canadian government’s Trans Mountain oil pipeline, said a spokeswoman for the project, which is opposed by environmental campaigners and some indigenous groups. All financial services companies are under pressure from …
SCA Appraisal Appoints Director and Managers SCA Appraisal has created a new Customer Success division and appointed Monica Diaz as its senior director. SCA, based in Burbank, California, appointed Lucano Figueroa to lead the division’s Financial Services/Government Group, Yesenia Barreto …
FRANKFURT — Munich Re said on Thursday it expected to receive claims for canceled or postponed events because of the coronavirus crisis in excess of 1 billion euros ($1.08 billion) this year after it posted a 65% drop in first-quarter …
Switzerland’s top insurance companies are in talks with the financial regulator about the impact of the coronavirus outbreak on their capital buffers and their business, according to people familiar with the matter. The watchdog contacted Swiss Re AG, Zurich Insurance …
Insurance losses from natural disasters fell last year after the U.S. was spared the full wrath of a major Atlantic hurricane. That’s according to the reinsurance firm Munich Re, which recorded total losses of $150 billion from events like hurricanes, …