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News
Sicily’s Cyclone Harry tests Italian mandatory insurance plan
9+ hour, 5+ min ago (929+ words) CATANIA, Italy, July 23 – A cyclone that wreaked more than €1 billion ($1.14 billion) in damage along Sicily’s coast has also exposed a flaw in Italy’s push to expand mandatory insurance against natural disasters. Businesses were insured, but not for the risks they…...
Insurer Chubb posts higher second-quarter profit on strong underwriting business
1+ day, 17+ hour ago (185+ words) July 21 (Reuters) – Property and casualty insurer Chubb reported a rise in second-quarter profit on Tuesday, helped by strong underwriting performance and investment returns. Demand for insurance remained firm in the quarter ended June 30, as households and businesses sought protection from…...