A story last week that Nationwide would not cover claims from fracking has created some confusion and should never have been a story in the first place, says Robert Hartwig, president of the Insurance Information Institute.

Canceling the London Olympics due, for example, to a security threat would result in damages of more than $4.9 billion, Andrew Duxbury, underwriting manager at Munich Re, told a German newspaper.

Property and casualty insurer Cincinnati Financial Corp estimated a significantly lower impact due to catastrophe losses during the second quarter and said it expects to continue to benefit from favorable pricing trends.

Wolters Kluwer Financial Services, a provider of comprehensive risk management, compliance and audit solutions for the financial services industry, announces the acquisition of FinArch, a provider of integrated finance, risk, and performance measurement solutions that enable financial institutions to manage, measure, and report all financial activities.