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Cyber insurance has become "a very fashionable product," Jain said at the annual meeting. Shokrai says categorizing how to attribute an event is the topic of much debate between insurance companies. "That is a big debate between insurance companies; it is an important distinction that needs clarity," Shokrai said. "I will tell you that most people want to be in anything that's fashionable when they write insurance. "Probably Warren Buffet would have called cybersecurity insurance an opportunity when he was younger," he said.
Persons: Buffett, Glombicki, Gerald Glombicki, Fitch, Berkshire Hathaway, Chubb, Jain, it's, Warren Buffett, Ajit Jain, Michael Chertoff —, Mark Friedlander, Friedlander, " Friedlander, Monica Shokrai, Warren Buffet, Shokrai, isn't, Josephine Wolff, Steve Griffin, they'll, They're, Charlie, Munger, Griffin, Warren Organizations: Industry, AIG, Berkshire Hathaway's, Berkshire, Homeland Security, Insurance, Google, The Fletcher School, Tufts University, L3 Networks Locations: Fitch Rating's, Berkshire, Omaha, California, . Berkshire
Fitch Rating's US downgrade in August has dramatically shifted the debt market's composition. With the US now rated AA+, the amount of outstanding AAA sovereign debt shrank 85% to about $5 trillion. Meanwhile, speculative-grade sovereign debt was little changed at about $6.1 trillion. Without $33 trillion of US debt, AAA debt shrank 85% to about $5 trillion. That narrowed the share of AAA debt to just 6% from over 40%.
Persons: Fitch, Organizations: AAA, Service, AA, Fitch Locations: Germany, Switzerland, Sweden, Singapore, Moody's
10-year yields spike to the highest level since Nov. 2022
  + stars: | 2023-08-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email10-year yields spike to the highest level since Nov. 2022Simplex Trading's Jason Coogan joins 'Power Lunch' to discuss strength in the equity market, the Fitch Rating's downgrade, and more.
Persons: Jason Coogan Organizations: Fitch
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTreasury Secretary Janet Yellen responds to Fitch's decision to downgrade U.S. to AA+The 'Fast Money' traders talk the latest on Secretary Yellen's response to Fitch Rating's downgrade of U.S. credit rating.
Persons: Janet Yellen, Fitch
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