Loss Control

While Workers Comp, Product Recall and Supply Chain Management remain the greatest coverage concerns for manufacturers, Cyber Liability is also becoming a top-of-mind issue, producers say.

Kidnap, Ransom and Extortion insurance coverage is much more than the name implies. The coverage has become broadone shaped by competition and a growing need as we become a more globalized, high-tech society within many areas of political or economic strife.

Led by severe weather, especially tornadoes, in the United States, global insured losses for the month of April are close to $1 billion, says Aon Benfield.

The first quarter of 2012 hit a record in the catastrophe-bond market as property and casualty insurance sponsors introduced eight new tranches, increasing the issuance of securities by 32 percent over the same period last year.

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Hotels, energy and financial services conglomerate Loews Corp posted quarterly results ahead of analysts' expectations, helped by an increase in its investment income and lower catastrophe losses at CNA Financial Corp., its biggest holding.