Austria News

Commentary: In an Electoral Defeat – Echoes of the ‘Great War’

As the Republican Neo-Con Light Brigade charged into the Democratic Valley of Death on Tuesday Nov. 7th, echoes of another far off war could be heard. It will be 88 years on Saturday that the guns finally fell silent, bringing …

Giarini, Sellitsch Named to Insurance Hall of Fame

The International Insurance Society announced that Orio Giarini, of Switzerland’s Geneva Association and Siegfried Sellitsch of Austria’s Wiener Staedtische have been named to the prestigious Insurance Hall of Fame. They will be honored in Chicago, July 17, 2006, at the …

RMS Releases “Fundamentally New” European Windstorm Model

Newark, Calif.-based Risk Management Solutions has launched “a fundamentally new platform for quantifying wind-related risk in 12 European countries,” said the announcement. “Meteorological modeling has been extended to include a comprehensive suite of wind events enabling loss calculations both from …

Risk of European Floods Greater, Eqecat Says

Eqecat Inc., a-risk modeling company, said previous risk models underestimated Europe’s risk from floods. The company plans to release in late June an upgraded version of its German flood model, part of its EuroFlood platform, James Webb, Eqecat product manager, …

Business Moves

Tower Group, CastlePoint Tower Group, Inc. in New York has entered into a strategic relationship with CastlePoint Holdings, Ltd., a Bermuda-based holding company that it has sponsored. CastlePoint has been capitalized with $265 million and is now able to provide …

Assurex Global Adds New Partners in Europe and Pacific Rim

Columbus, Ohio-based Assurex Global has added new partners in Australia, Switzerland and Austria. OAMPS Insurance Brokers, Ltd. in Australia; GWP Insurance Brokers in Switzerland; and Assurance Partners Versicherungsmakler – ­und beratung GmbH in Austria were named Assurex Global Partners. OAMPS …

Aon: Vigilance Recommended by Companies in Cartoon Furor

Risk managers of multinational corporations would do well to follow closely the escalating protests over Danish cartoons satirizing the Prophet Muhammad in Europe and the Middle East, according to Aon Trade Credit Managing Director Bryan Squibb. President Bush has called …

AIR Worldwide Opens Munich Office

AIR Worldwide Corp. announced the opening of AIR Worldwide GmbH in Munich, Germany, “to meet the needs of its expanding client base in the region.” Yoern Tatge will head the new office. AIR noted: “Europe has been an area of …

Guy Carpenter Unveils 2005 Central, Eastern Europe Flood Report

Guy Carpenter & Company Ltd. reported the release of European Flood Report 2005 – Central and Eastern Europe, a detailed summary and review of 2005 Central and Eastern European flood activity. The report, available in both English and German, also …

Estimates in Swiss Re sigma Study Confirm 2005 as Costliest Ever

Ever since Hurricane Katrina devastated New Orleans, 2005 looked certain to be a record-breaking year for insured losses. Swiss Re’s newly issued sigma report has now confirmed the sad fact. According to preliminary estimates (the full and exact figures won’t …