Unicoi County (Tennessee) Schools Director Denise Brown said she’s confident the cost of relocating an elementary school threatened by a sinkhole is covered by insurance. Brown told the Johnson City Press that the contract through Risk Management Trust specifies the …
Florida’s state-backed property insurer announced that it has reduced the size of any possible emergency assessments on policyholders due to its depopulation efforts and by transferring part of its risk to private capital markets. Citizens Property Insurance Corp. said that …
Natural catastrophes and man-made disasters caused $186 billion in economic losses globally in 2012 and took approximately 14,000 lives, according to global insurer Swiss Re’s latest sigma study. The United States bore the brunt, about $119 billion, of that total …
President Barack Obama’s top healthcare adviser acknowledged on Tuesday that costs could rise in the individual health insurance market, particularly for men and younger people, because of the landmark 2010 healthcare restructuring due to take effect next year. U.S. Health …
U.S. insurer Protective Life Insurance is the leading candidate to buy some of AXA SA’s U.S. life insurance assets in a deal that could be valued at around $1 billion, according to two people familiar with the situation. French insurer …
Prudential, Britain’s largest insurer, has been fined £30 million ($45.4 million) for failing to tell the UK financial regulator about its attempted takeover of Asian rival AIA three years ago. The Financial Services Authority (FSA) said on Wednesday the size …
China and Brazil agreed on Tuesday to swap up to the equivalent of $30 billion in each other’s currencies if need be so that their fast-growing commercial ties will not suffer if a new banking crisis causes dollar trade finance …
Swiss Re has released its latest sigma study, which found that economic losses from natural catastrophes and man-made disasters reached $186 billion in 2012. Insured losses amounted to $77 billion, making 2012 the third most costly year on record. Weather …
Miller Insurance Services announced that non-marine casualty reinsurance production and placement specialist Ian Wicks has joined its reinsurance team in London. James Geffen, Head of Reinsurance and Board Member at Miller noted that Wicks “has been a leading casualty reinsurance …
Agency Catastrophe Plans. How to keep a catastrophe from becoming an even bigger catastrophe. I don’t know who said it, but they correctly concluded that the best E&O audit is a natural catastrophe because so many clients have claims and …
