Impact Forecasting, Aon Benfield’s catastrophe model development center, has launched the first fully functional Asian typhoon model to span the continent. “The new model will help insurers analyze the financial implications of typhoons and develop reinsurance programs based on scientific …
Southern China on Friday battened down to await the arrival of Typhoon Conson, gathering strength over the South China Sea, and Vietnam deployed nearly 3,000 troops to areas in the path of the storm. Swollen rivers and landslides have killed …
Participants in the Doha world trade talks are preparing for a final deal but there is no point setting an artificial deadline, the head of the World Trade Organization told a German daily. The Doha talks, launched in late 2001, …
The first typhoon to lash the Philippines this year killed at least nine people and left 11 others missing Wednesday after flooding streets in the capital and toppling power lines. Typhoon Conson slammed into northeast Quezon province with winds of …
American International Group named director Robert “Steve” Miller as its new chairman, replacing Harvey Golub, who resigned after clashing with Chief Executive Robert Benmosche over the botched sale of the insurer’s Asian life unit. “Bob Benmosche has informed the board …
The board of American International Group is set to meet this week to consider the future of its AIA unit, with a public float seen as the most likely outcome, sources said on Tuesday. An initial public offering of AIA, …
Louisiana Gov. Bobby Jindal has agreed to ban insurance companies from dropping coverage of homeowners who have found corrosive Chinese drywall in their homes. Jindal’s office announced that the governor has signed the bill by Metairie Sen. Julie Quinn into …
Residential construction is and has been an extremely important class of business for surplus lines insurers and agents. In recent years, however, demand for residential work in this country has dropped dramatically. According to the U.S. Census Bureau, 1,931,400 homes …
A report from Munich Re (www.munichre.com) notes that the first half of 2010 was “marked by an exceptionally large number of natural catastrophes and the scale of the losses they caused.” The reinsurer recorded 440 “events from January until the …
The International Monetary Fund upgraded its 2010 global growth forecast on Thursday, citing robust expansion in Asia and renewed U.S. private demand, but warned the euro area’s debt crisis posed a big risk to recovery. The IMF said the euro …
