In a bulletin released shortly after the earthquake in Peru, Catastrophe modeling firm AIR Worldwide said that “given the relatively sparse population in the epicentral area and the fact that insurance penetration is generally low (estimated at just 2 percent …
Standard & Poor’s Ratings Services has raised its long-term counterparty credit and insurer financial strength ratings on Zurich-based reinsurer Swiss Reinsurance Co. Ltd., and its core subsidiaries (collectively Swiss Re, or the group) to ‘AA-‘ from ‘A+’. The outlook on …
Catastrophe risk modeling firm AIR Worldwide announced that it has released the industry’s first Multiple Peril Crop Insurance (MPCI) Model for China. AIR said the “new model provides a fully probabilistic approach for determining the likelihood of losses to the …
A magnitude 6.9 earthquake that struck off the coast of southern Peru Friday shook buildings in Lima and injured 83 people near the city of Ica, civil defense officials said Saturday. At least 88 homes were destroyed and another 40 …
Xiang Junbo, the man named on Saturday to be China’s insurance regulator, recently led the country’s third-largest lender from near insolvency to a record IPO with assets worth more than India’s national economy. Now Xiang, a war veteran and screenwriter …
UK Prime Minister David Cameron announced plans to amend British law to allow UK registered vessels to employ armed guards as security, when they are transiting dangerous waters – mainly those off the coast of Somalia. Cameron’s initiative marks a …
BrokersLink, a major independent international insurance broker network, announced that new brokers had joined the organization in Israel, Indonesia, South Korea and the Caribbean. Its members’ managed premium volumes have increased to more than $14 billion, noted BrokersLink Chairman José …
Like a lot of companies, Veridian Credit Union wants its employees to be healthier. In January, the Waterloo, Iowa-company rolled out a wellness program and voluntary screenings. It also gave workers a mandate: quit smoking, curb obesity, or you’ll be …
More than six years after Hurricane Katrina’s rampage, authorities have taken only halting steps toward identifying weaknesses in a nationwide patchwork of levees intended to protect millions of Americans’ lives and property during potentially catastrophic floods. The U.S. Army Corps …
