Aircraft-leasing companies working to recover planes from Russia are set to collide with an aviation-insurance industry bracing for a flood of claims never seen before. Lessors of planes stranded in Russia since the imposition of sanctions have warned insurers of potential claims if the planes are not returned. Meanwhile, insurers are canceling some policies, including… Continue reading Airplanes in Russia Promise Insurance Havoc with Claims on the Way
Author: Farkas Laura
Reinsurers Return More Capital on Very Strong 2021 Results
The four major European reinsurers – Hannover Rueck SE (Insurer Financial Strength rating: AA-/Stable), Munich Reinsurance Company (AA/Stable), SCOR SE (AA-/Stable) and Swiss Reinsurance Company Ltd (A+/Stable) – improved their earnings significantly in 2021 due to better pricing and substantially lower coronavirus claims in property and casualty, Fitch Ratings says in a new report. This… Continue reading Reinsurers Return More Capital on Very Strong 2021 Results
CAS Launches Research Paper Series on Race and Insurance Pricing
Research reports designed to guide the insurance industry toward proactive, quantitative solutions to identify, measure and address potential racial bias in insurance pricing were published by the Casualty Actuarial Society (CAS) recently. “The CAS is proud to move forward with not just a commitment to diversity, equity and inclusion in all aspects of actuarial work,… Continue reading CAS Launches Research Paper Series on Race and Insurance Pricing
Shell’s Board of Directors Sued for ‘Failing to Properly Prepare’ for the Energy Transition
Shell’s board of directors is being sued for failing to adequately prepare the multinational oil and gas company for the transition away from fossil fuels. ClientEarth, an environmental law firm with shares in Shell, announced on Tuesday that it had notified the company of its claim against the company’s 13 executive and non-executive directors. It… Continue reading Shell’s Board of Directors Sued for ‘Failing to Properly Prepare’ for the Energy Transition
New Covid Wave in China Hits Sellers of ‘Quarantine Insurance’
In a country where one person inadvertently crossing paths with a Covid-19 patient can instantly put an entire apartment complex under lockdown for 14 days or more, Chinese insurers last year began offering what they called “quarantine insurance”—get locked down, receive a payout. Now, as the Omicron variant of the coronavirus spreads rapidly across the… Continue reading New Covid Wave in China Hits Sellers of ‘Quarantine Insurance’
Louise Brueske Joins Alliant’s Employee Benefits Group in Seattle
Alliant has hired longtime employee benefits consultant Louise Brueske as Vice President within its Employee Benefits Group. Based in Seattle, Brueske will create tailored employee benefits solutions for a diverse client base. “Louise brings an analytical approach to the benefits process, creating customized solutions that enhance employee well-being and strengthen the bottom line,” said Kevin… Continue reading Louise Brueske Joins Alliant’s Employee Benefits Group in Seattle
Mortgage Rates Top 4% for the First Time Since 2019
The era of ultralow mortgage rates has come to an end. According to Freddie Mac, the average 30-year fixed mortgage rate has surpassed 4% for the first time since May 2019. The average interest rate on America’s most popular home loan was 3.22 percent at the start of the year. It fell to a record… Continue reading Mortgage Rates Top 4% for the First Time Since 2019
Ousted Anchor Chris Cuomo Seeks $125M from CNN
Chris Cuomo, a former cable news anchor, is suing CNN for $125 million, claiming wrongful termination when the cable news network fired him in December. Mr. Cuomo’s lawyer, Bryan Freedman, said in a legal filing with JAMS, an arbitration organization, on Wednesday that he was seeking the $15 million owed to Mr. Cuomo under his… Continue reading Ousted Anchor Chris Cuomo Seeks $125M from CNN
SEC Probes Big Four Accounting Firms
According to people familiar with the matter, regulators are conducting a broad investigation into conflicts of interest at the nation’s largest accounting firms, asking whether consulting and other nonaudit services they sell undermine their ability to conduct independent reviews of public companies’ financials. The SEC investigation highlights the agency’s new emphasis on financial-market gatekeepers such… Continue reading SEC Probes Big Four Accounting Firms
Wrisk Announces the Formation of a New Subsidiary in the USA
London-based Wrisk has formed Wrisk USA Corp, as part of its strategy to deploy its platform globally for its automotive and insurer clients. Through Wrisk configuring and embedding digital insurance experiences, its platform enables insurers and OEMs to grow market share and derive enhanced data insights. Wrisk chose Connecticut as its USA headquarters in view… Continue reading Wrisk Announces the Formation of a New Subsidiary in the USA