One of the nation’s largest insurance companies is lobbying Congress for permission to sell policies that cover damage from both wind and flood water, a plan billed as a way for insurers and homeowners to avoid costly litigation after disasters …
With federal aid limited and most homes damaged or destroyed by Midwest flooding lacking the proper insurance, states along the Ohio and Mississippi rivers will soon have to help homeowners recover, according to the nation’s No. 1 disaster official. “There’s …
Many of the thousands of people who have gone to court for illnesses stemming from the 2001 terror attacks don’t have serious health problems, lawyers for New York City claim in court papers. About 10,800 plaintiffs claim to suffer from …
The business partners of former Baltimore Ravens player Michael McCrary have been ordered to pay him $33.6 million for secretly keeping millions of dollars in insurance proceeds from a New Orleans condominium project. Visiting Judge Paul Alpert made the award …
A 65-year-old couple needs $85,000 on average to cover insurance costs for long-term care such as nursing home stays in retirement, according to a study by Fidelity Investments. The finding underscores the need to financially prepare for the possibility of …
New York will hire more minority- and women-owned debt underwriters, lawyers and risk managers and ease regulatory barriers that are “openly discriminating” against foreign reinsurers, Democratic Gov. David Paterson told reporters Thursday. Paterson, the state’s first black governor, who is …
A bulletin from Hiscox in London notes that “modern, contemporary and 19th century European art continues to see double digit growth despite global uncertainty. The value of modern and contemporary art has continued to see significant rises and has not …
Catastrophe bonds, which allow investors to make bets on disaster, have thrived in recent years, but a number of factors are seen cooling this obscure part of the debt market in 2008. The growth of catastrophe, or “cat,” bonds has …
Former British prime minister Tony Blair urged the Group of Eight rich nations on Friday, June 27, to agree to a global goal of halving greenhouse gas emissions by 2050, despite signs top carbon emitter the United States would not …
Firefighters scrambled Wednesday, June 25, 2008, to tame a lightning-sparked wildfire in the Los Padres National Forest that already burned 16 homes and is moving closer to the scenic community of Big Sur, where it threatens another 500 residences. The …
