President Barack Obama has signed the “Biggert-Waters Flood Insurance Reform and Modernization Act of 2012” into law. The law extends the National Flood Insurance Program (NFIP) for five years and makes reforms to the program. The Senate and House passed …
The withering U.S. corn crop is gaining some respite from a record heat wave this week but new weather forecasts offered scant signs of the rainfall it urgently needs to avoid the worst drought damage in nearly a quarter century. …
Fears are rising that grain crops in the core of the U.S. Corn Belt – the top corn-producing region in the world – will suffer big losses that are already causing farmers to plow up fields in other regions of …
The U.S. swaps regulator is set to finalize this week a critical reform that will trigger banks and traders having to comply with costly new derivatives rules. The Commodity Futures Trading Commission will vote on Tuesday on a definition of …
The Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC), a joint initiative of Guy Carpenter and City University of Hong Kong, has released its third annual report, which presents the findings of the 27 research projects conducted by GCACIC members on …
Montpelier Reinsurance Ltd., the Bermuda reinsurance subsidiary of Montpelier Re Holdings, announced the appointment of Dr. Gero Michel as Head of Risk Analytics, a new position at the Company, effective July 1, 2012. He will focus on “enhancing Montpelier’s risk …
The death toll from severe flooding in the Black Sea region of southern Russia has risen to at least 150 [later reports put the number of deaths at more than 170]. Torrential rains dropped more than 28 centimeters (nearly a …
Catalina Holdings (Bermuda) Ltd. announced that it has signed a definitive agreement to acquire two legacy businesses, HSBC Reinsurance Limited and HSBC Insurance (Ireland) Limited from HSBC Holdings plc, “subject only to regulatory approval from the Central Bank of Ireland. …
Texas-based Builder Agent Network LLC announced that Debbie Hankins has joined the company as a program underwriter. Hankins will underwrite General Liability, Package, and Builders’ Risk for the MGA and will be involved in additional program development. Hankins has been …
Michigan Gov. Rick Snyder has signed a series of bills that will help insurance consumers by providing additional protections regarding the use of credit-based insurance scores, according to the Property Casualty Insurers Association of America (PCI). The package of insurance …
