Stiff competition and moves by owners to protect ships better has taken the edge out of insurance costs after pirate attacks off Africa’s east coast created a two-year boom for specialist cover. But analysts say the menace of piracy is …
Workers reported underground water leaks days before a flood coursed through a coal mine in northern China, where 153 people remained trapped Tuesday in potentially one of the country’s worst mining disasters, a worker and state media said. There has …
When he succeeded Nick Prettejohn as Lloyd’s of London’s CEO in 2006, Richard Ward was not an experienced veteran of the insurance industry, but then neither was Prettejohn, a former senior management consultant at Bain & Co. Neither is Lord …
Property/casualty insurers are expected to continue to handle costs for defective Chinese drywall claims in the normal course of business, according to a rating analyst with Moody’s Investors Service. Losses from Chinese drywall will probably be covered within insurers earnings, …
Risk Management Solutions announced that it has reached an agreement with Asia Capital Reinsurance Group (ACR) that they will work together to “develop catastrophe risk models enabling ACR to apply the models of particular relevance to the Asian market.” RMS …
The European Union cannot make more concessions on farm trade to restart stalled world trade talks and the United States must make the first move, the EU’s new trade chief said on Monday. The ball was not in the EU’s …
Two Canadian provinces are worried about an early start to this year’s forest fire season because of below-normal winter snowfall and dry spring conditions. British Columbia has put fire-fighting aircraft on 48-hour alert, something they do not normally do until …
The Climate Change debate rolls on, but real decisions and effective actions remain elusive. Hardly a week goes by without a new report or study on the changes affecting the atmosphere, but the general public appears to be contracting “climate …
Members of the World Trade Organization are likely to conclude next week that it will take a political miracle to agree a new trade deal this year, consigning yet another Doha round deadline to the dustbin. The U.S. and European …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on Jordan-based Middle East Insurance Company (MEICO) to ‘BBB-‘ from ‘BBB’. The outlook is stable. The rating action follows the “downgrade on March 12, …
