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Insurance
A new generation of catastrophe models could be completely transparent to their users – heralding a seismic change in the way risk models are built and used, which could be as significant a change for the industry as when the very first cat models were built in the early 1980s. 9 June 2017
Insurance
Cyber attacks like the ransomware dubbed ‘WannaCry’, which has hit hundreds of thousands of businesses around the world in recent months, have highlighted that businesses must first properly understand and assess the risk before they purchase the necessary insurance, according to Julia Graham, deputy-CEO and technical director at Airmic, the UK’s risk management association. 9 June 2017
Insurance
The insurance industry must redouble its efforts to maintain its relevance as an increasing number of board-level risks do not have an insurable solution at the present time, according John Hurrell, the outgoing CEO of Airmic, the UK’s risk management association. 9 June 2017
Insurance
Troubled AmTrust Financial Services said June 9 that it has entered into agreements to sell 10,586,000 shares it owns in specialty personal lines insurer National General Holdings (NGHC) for approximately $211.7 million. 9 June 2017
Insurance
Helios Underwriting said on June 9 that it agreed to acquire Lloyd's limited liability member Nottus No 51 Limited for a consideration of £964,500 in cash. 9 June 2017
Insurance
Bermuda-based Arch Capital Group said June 8 that it launched an underwritten public secondary offering of 6,381,410 common shares "by certain selling shareholders affiliated with American International Group." 9 June 2017
Insurance
Damage from up to softball-sized hail in May in Colorado led to insurance payouts of more than $1.4 billion, according to Aon Benfield's monthly Global Catastrophe Recap report. 9 June 2017
Insurance
General insurer Insurance Australia Group (IAG) has purchased an additional reinsurance protection worth A$1 billion ($750 million) against major disasters. 9 June 2017
Insurance
Berkshire insurance subsidiaries have reached an agreement with California’s Department of Insurance by committing to lower rates, improved disclosures, and limiting sale of their worker’ compensation insurance. 9 June 2017
Insurance
Insurance broker Lockton has named Jeff Henningsen as president of its Houston property and casualty insurance operation. 9 June 2017
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