Most-read stories for the week include a deep dive into Donegal Group's exit from banking, and Delaware may be the biggest stumbling block to the pending Genworth/China Oceanwide deal.
Broker: Silent cyberrisk 'a top concern' for insurers' boards
So-called silent cyberrisk is "now a top concern of board-level executives" at insurers and reinsurers and the source of "the bulk" of the industry's exposures, a new report from reinsurance broker Capsicum Re said. Silent, or nonaffirmative, cyber refers to risks that are covered under standard insurance policies because those policies do not specifically include or exclude cyberrisk.
Claims slowly coming in as Hawaii lava overtakes homes
Insurance claims have begun trickling in from the creeping property disaster caused by the Kilauea volcano lava flow, which has officially destroyed more than 100 homes and may have razed nearly 500 residences.
Even with CFIUS approval, Genworth/China Oceanwide deal faces state hurdles
While the long-delayed merger between Genworth Financial Inc. and China Oceanwide Holdings Group Co. Ltd. has been approved by the Committee on Foreign Investment in the U.S., it will have to overcome what could be a much more daunting obstacle.
Insurer exits banking 7 years after expanding through M&A
Donegal Group Inc., which dramatically increased its banking footprint amid high-profile retreats by certain peers from the depository business, has opted to change course and refocus on its core property and casualty operations.
2018 small business survey — agents still dominate amid direct insurance push
The vast majority of the small business financial decision-makers participating in an S&P Global Market Intelligence survey continue to purchase commercial insurance coverage through agents even as new and existing companies make significant investments in direct-distribution capabilities.