E&S/Specialty

W.R. Berkley Corp. Chairman and CEO William R. Berkley vigorously defended the companys reserving practices on an investor conference call today, stating that, if anything, the insurer leans toward being more conservative.

The cost of terrorism insurance coverage is expected to become volatile if the federal terrorism insurance backstop is not extended, and uncertainty about what Washington will do is already causing ripples in the marketplace, Marsh says in a new report.

Buildings swayed in Mexico City and some neighborhoods lost power after a 7.5-magnitude earthquake struck about 164 miles southwest of the capital of Latin Americas second-largest economy.

The private market does not have the capacity to provide reinsurance for terrorism risk to the extent currently provided by the Terrorism Risk Insurance Act, according to a special presidential report issued today.

Aspen Insurance Holdings Ltd. adopted a so-called poison pill to discourage a hostile takeover after rebuffing a $3.2 billion buyout offer from Endurance Specialty Holdings Ltd. Aspen declined the most since February in New York trading.

Congressional pressure has moved the National Retail Federation to establish an industry group that will foster sharing of security info between the public and private sector.