North Carolina’s insurance pool for coastal properties now has an extra financial cushion in case a major hurricane strikes. Risk specialist Guy Carpenter & Co., LLC, and GC Securities, announced the completion of a $305 million, two-class note issuance from …
Big oil goes under the spotlight Tuesday when U.S. lawmakers grill top executives on a drilling rig explosion and oil spill that threatens an environmental catastrophe in the Gulf of Mexico. The hearings come during a desperate race against time …
House Financial Services Committee Chairman Barney Frank, D-Mass., has introduced legislation extending the federal flood insurance program from its current May 31 deadline through September 30, 2010. Frank’s bill would again give Congress more time to address broader reforms and …
A dispute between an insurance company and a retired Navy admiral over coverage of damages from Hurricane Katrina has made its way to the Mississippi Supreme Court. The case is among dozens the Supreme Court will hear during its May-June …
Oil major BP Plc said the oil spill in the Gulf of Mexico had cost it $350 million so far, suggesting the final bill could be much higher than many analysts predicted, and hitting the company’s shares. BP said in …
BP Plc engineers will search for a solution Sunday after suffering a setback in an attempt to contain oil gushing into the Gulf of Mexico with a huge metal dome, dashing hopes for a quick, temporary solution to a growing …
The White House is pushing to lift the limit on how much BP pays for the Gulf Coast oil spill. Press Secretary Robert Gibbs said the administration wants to work with Congress to change a law that caps at $75 …
New York lawmakers hold a roundtable discussion today with insurance agents and industry leaders over the difficulties facing the coastal homeowners insurance market. The meeting at the state legislature was called for by Assemblyman Joseph Morelle (D) and state Senator …
As of last Friday, damages to Nashville from serious flooding were estimated at $1.5 billion, a number Mayor Karl Dean said will climb because all areas had not been checked. Dean said that estimate only includes commercial, industrial and nearly …
The location of black box recorders from a 2009 Air France crash that killed 228 people has been sharply narrowed down in the Atlantic Ocean, the French air accident investigation authority said on Thursday. France’s BEA body, which looks into …
