Reinsurance rates for 2011 are falling at the same or greater pace than traditional insurers and further softening of the market is to come, according to two industry reports. For the second year in a row, global reinsurance property catastrophe …
A year-long investigation targeting insurance fraud has resulted in 11 arrests and three pending arrests connected with four Florida chiropractic clinics. In January, the Collier County Sheriff’s Office Organized Crime Bureau began investigating clinics suspected of committing insurance fraud by …
The Federal Emergency Management Agency (FEMA) is seeking a top-to-bottom review of the efforts to reform the nation’s flood insurance program. The National Association of Mutual Insurance Companies (NAMIC) has offered a set of reform proposals designed to improve the …
Lloyd’s year-end review shows that, like the rest of the industry it faced a number of challenges in a difficult year. Low interest rates diminished investment returns for insurers, while the soft market provided little scope for premium increases. “Plenty …
A girl suspended from a Broward County charter school after she criticized a teacher on Facebook has settled a federal lawsuit against the school’s principal. Court documents show that Katherine Evans will receive $15,000 in legal fees and $1 in …
As the Gulf oil spill gushed out of control, BP’s financial liabilities seemed big enough to sink the company. No more. Cleanup, government fines, lawsuits, legal fees and damage claims will likely exceed the $40 billion that BP has publicly …
The military flew out a town’s entire population of 300 people by helicopter Wednesday in eastern Australia where waters continued to rise after days of drenching rain. A total of 1,000 people were evacuated from the town of Theodore and …
Munich Re, via its asset manager MEAG, has concluded a significant investment deal involving wind power plants in Germany. It announced that as of the first of the year, “the Group is acquiring 40 wind turbines in a total of …
Home insurance is now the number one target for insurance fraudsters according to the hundreds of fraudulent insurance claims exposed every day, according to the Association of British Insurers (ABI). To back up is assertion the ABI released the following …
Carlyle Group has sold a 2.5 percent stake worth around $860 million in China Pacific Insurance (Group) Co Ltd, sources said, helping the buyout fund recoup its investment in what could be one of its best Asian deals to date. …
