For all the lives it took when it plowed across the Gulf Coast in 2005, Hurricane Katrina may have saved some during Isaac. Officials took lessons from Katrina and applied them to their emergency plans. Storm shelters that can house …
The Mississippi Supreme Court has let stand an order for a new trial in a workplace asbestos exposure case in which a Jones County man was awarded $15.2 million. The court denied a request from Troy Lofton to reconsider its …
Hopes BP can settle early out of court on liability for its 2010 U.S. Gulf oil spill looked forlorn on Wednesday after U.S. prosecutors laid out a legal case for gross negligence on which tens of billions of dollars hang. …
A.M. Best has published a review of the international reinsurance market, which analyzes the performance of the largest reinsurers (rated by gross premiums written). Although the figures – based on 2011 – do not reflect more recent developments in the …
Moody’s Investors Service has maintained a stable outlook for the global reinsurance industry. Moody’s said the outlook “expresses our expectations for the fundamental credit conditions in the industry over the next 12 to 18 months.” It also “acknowledges the industry’s …
The American Insurance Association has submitted comments in response to the International Association of Insurance Supervisors’ (IAIS) July 2, 2012 Public Consultation Document entitled “Working Draft of the Common Framework for the Supervision of Internationally Active Insurance Groups” referred to …
The latest edition of the Aon Benfield Aggregate (ABA) report, which analyzes the financial position of the world’s leading reinsurers for the first half of 2012, concludes that “global reinsurer capital totaled a record $480 billion at June 30, 2012, …
The Dubai Group has sold its Turkish insurance arm to Starr Insurance and Reinsurance Ltd., a company owned by former AIG chief executive Maurice “Hank” Greenberg, and to a unit of Dubai lender Mashreq Bank, as the state investment firm …
UK banks face new rules to stamp out sales incentives that have encouraged mis-selling of financial products going back two decades, the Financial Services Authority said on Wednesday. UK banks have been hit by a series of scandals in the …
The Hartford Financial Services Group Inc. on Tuesday said it would sell its retirement plans business to life insurer MassMutual for $400 million cash, part of The Hartford’s plan to shed assets and focus on its property insurance business. The …
