Two Atlanta couples are suing BP PLC for damages as a result of the Gulf oil spill. The class-action lawsuit, filed in the U.S. District Court of Northern Georgia, seeks compensation for loss of income, property value and enjoyment by …
The Bermuda-based Argo Group International Holdings announced that it expects to report in its 2010 second quarter financial results “approximately $20 million to $25 million of estimated pre-tax loss provisions, net of reinsurance and reinstatement premium, related to spring storms …
Insurers are urging the House of Representatives to pass legislation today that would extend the National Flood Insurance Program (NFIP) for five years. The measure, HR 5114, the “Flood Insurance Reform and Priorities Act of 2010”, sponsored by Representative Maxine …
The early appearance of Hurricane Alex, which hit Mexico and the Gulf coast of the U.S., was, according to experts at Swiss Re, “a relatively unusual occurrence in June and could signal a very active hurricane season.” Insured losses, caused …
BP Plc prepared on Tuesday to test a new cap on its runaway well, arresting the flow of oil which has been gushing into the Gulf of Mexico for the last 12 weeks. [According to Reuters BP Plc will launch …
Munich Re has provided the Massachusetts Property Insurance Underwriting Association (MPIUA) with a $ 96 million catastrophe bond issuance that “transfers hurricane risk in Massachusetts to the capital markets,” said the reinsurer’s announcement. “Munich Re acted as joint lead manager …
Anadarko Petroleum Corp., which owns 25 percent of the ruptured well in the Gulf of Mexico, has told BP Plc that, for now, it will not pay a $272 million bill from the British oil company to cover clean-up costs. …
BP Plc said it expects to attach a new containment cap later Monday that should more than triple the amount of oil being collected from the energy giant’s leaking Gulf of Mexico wellhead. “We have the cap very close and …
The Massachusetts Property Insurance Underwriting Association (MPIUA) has received a $96 million catastrophe bond issuance that transfers hurricane risk in Massachusetts to the capital markets, a number of reinsurers announced. Munich Re acted as joint lead manager in the transaction, …
Local taxpayers in Nashville will largely be off the hook for the costs of repairing public facilities damaged by severe flooding in May. The Tennessean quoted Metro Nashville Finance Director Rich Riebeling, who said the estimated cost of fixing public …
