E&S/Specialty

A ban on European Union insurers covering Iranian oil exports has forced shipowners to fall back on new, untested insurance providers, raising fears that governments may have to pay in the event of an oil spill.

Agent and broker employment in September experienced an expected decline, but the size of the drop was unusual, according to Insurance Information Institute President Robert Hartwig.

Australias QBE Insurance Group has joined a number of carriers who believe Superstorm Sandy could cause more insured losses than catastrophe modelers have predicted.

Last Tuesdays election will generate substantive changes in who makes the decisions affecting the insurance industry in Washington. Here is a look at the key people certain to be impacted by the change.

Despite the high winds recorded from Superstorm Sandy, actual wind damage from the storm was surprisingly minor, a report from reinsurance broker Willis Re says.

Property insurer Chubb Corp, a major player in the U.S. Northeast, has suspended share buybacks because it is unsure how large its losses will be from Superstorm Sandy.