New Jersey residents will begin hearing this week whether they’re getting money to rebuild badly damaged homes or stay in their communities after Superstorm Sandy. State Community Affairs Commissioner Richard Constable tells The Associated Press that 3,500 households will be …
American International Group Inc. and General Electric Co.’s finance unit were designated systemically important by U.S. regulators, a ruling the companies had already agreed to accept. The vote by the Financial Stability Oversight Council subjects AIG and GE Capital to …
The Chubb Corp. estimates that catastrophe losses in the second quarter will be approximately $240 million before tax, or $156 million after tax ($0.60 per share after tax). The company said that about $175 million of the losses before tax …
The owner of a Montgomery home that was badly damaged during the search for a shooting suspect is suing to make the city and the federal government pay for thousands of dollars in repairs. WSFA-TV reported that Yakemi Ward filed …
A North Carolina judge says the town of Hope Mills can sue companies that built a dam that failed. The Fayetteville Observer reported that Superior Court Judge Erwin Spainhour said that the companies can be sued for breach of contract. …
A former Cincinnati Bengals cheerleader who is suing a gossip website for alleged defamation wiped tears from her eyes Monday as she testified that she was mocked and humiliated by website posts that she says were false and malicious. Sarah …
Could it happen to us? Tourism, manufacturing and resources companies surveying an unpredictable world are increasingly having to consider insurance against political risks, and the insurance industry is gearing up to provide more cover. The small print of a regular …
The National Hurricane Center’s bulletin, issued at 5:00 AM AST, notes that Tropical Storm Chantal has become much weaker since it entered the Caribbean, and may soon be downgraded to a “tropical wave.” The storm is “moving toward the west-northwest …
The oil-laden train that derailed and exploded in a small Canadian town on Saturday, possibly killing as many as 50 people, included a class of railcar whose vulnerability to leaks and deadly explosions was well known to regulators. The U.S. …
Catastrophe modeling firm AIR Worldwide reports that “after days of heavy precipitation, a torrential thunderstorm on July 8th dropped an additional ten centimeters [app. 4 inches] of rain on Canada’s largest city, Toronto, in just four hours. “The storm triggered …
