The storm shifted to Floridas Gulf Coast over the weekend, sparing Miami a direct hit and prompting risk modeler AIR Worldwide to say the maximum cost for insurers on Irma is $40 billion.

Reinsurers are plowing money into niche fintech providers to boost waning profits.

Reinsurers are plowing money into niche fintech providers to boost waning profits.

As Allianz SE CEO Oliver Baete slims down the insurer to cut costs, rising second-quarter profit helped by lower natural disaster-claims, rewarded his strategy.

As Allianz SE CEO Oliver Baete slims down the insurer to cut costs, rising second-quarter profit helped by lower natural disaster-claims, rewarded his strategy.

Insurance against terror attacks must adapt to face up to the threats posed by so-called lone-wolf militants and the rise of cyber crime.

A global cyber attack could result in damages of as much as $121.4 billion, comparable to economic losses caused by Hurricane Katrina in 2005, Lloyds of London said in a report

Cyber crime insurers largely avoided costly claims from the recent attacks that hit businesses around the globe. The next global virus could change that.