Chartis announced that it has entered into a reinsurance transaction with Lodestone Re, which will provide $450 million of protection to Chartis against U.S. hurricanes and earthquakes. “This represents a substantial increase from the $250 million of protection originally sought …
The administrator of BP Plc’s $20 billion compensation fund has paid $43 million to residents of the U.S Gulf Coast who agree not to sue the company for damages stemming from the nation’s worst offshore oil spill. The spill closed …
Natural and man-made catastrophes topped the list of the most significant events in 2010, with three major earthquakes, a near record number of hurricanes, some serious typhoons and windstorms, a volcanic eruption and a calamitous oil spill that blighted the …
Catlin Group Limited announced that, “based on total insured losses from the New Zealand earthquake of US$5.5 billion to US$6 billion, its loss amounts are approximately US$45 million, net of reinsurance and reinstatements. The revised estimate increases Catlin’s previous exposure …
The world’s top three insurance brokers have joined reinsurer Munich Re to promote a major expansion in risk coverage for deepwater drilling in the wake of BP’s disastrous Gulf of Mexico spill last April. Their goal is to expand liability …
Whitney Crowder doesn’t remember the day her father died. What happened Dec. 16, 2000, has gone down in state history: Eleven people, including her father and baby brother, died when an F4 tornado hit south Tuscaloosa. It was the single …
A woman was indicted last week in the Eastern District of Louisiana for allegedly filing fraudulent claims for compensation due to the Deepwater Horizon oil spill. Four other individuals were also charged last week in Alabama, Michigan, and Mississippi for …
Europe saw little respite on Sunday from the Arctic conditions that closed airports and disrupted travel over the weekend before Christmas, traditionally one of the busiest times of the year. London’s Heathrow, the world’s busiest international airport, which was forced …
A federal appeals court has rejected a $21 million settlement of Hurricane Katrina damage claims that some residents had complained was unfair, and that one group said would have entitled residents and businesses to as little as $40 each. U.S. …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation, has released its Annual Global Climate and Catastrophe Report, which reviews the natural disaster perils that occurred worldwide during 2010. The survey is published by Impact Forecasting, Aon …
