Aon Benfield announced that it is utilizing its “groundbreaking FAConnect placement platform to respond to client demand for expanded Chile earthquake capacity.” The system opens the way for Aon’s clients to access up to $ 50 million in coverage for …
Last week’s volcanic ash cloud cost European Union airlines €1.5 to €2.5 billion ($1.98 to $3.3 billion), the European Union executive said as it proposed a series of actions to help the cash-strapped industry. Governments will be able to waive …
A bill to overhaul the troubled U.S. National Flood Insurance Program, which covers more than five million homes and businesses in flood-prone areas, was approved on Tuesday by a congressional committee. The bill, if approved in the full House and …
Mississippi’s top insurance official said the devastation caused by last Saturday’s storm would be “significant” after viewing the destruction on the ground and by helicopter. “It’s pretty bad,” Insurance Commissioner Mike Chaney said after touring damage in Yazoo County. He …
Klamath, Ore., farmers who did not buy federal crop insurance last year are not likely to see much in the way of disaster assistance for this year’s drought. The Herald and News newspaper reports that despite requests from the governor …
Transocean Ltd. said Monday its insurance covers the total loss of the Deepwater Horizon oil platform and wreck removal after the rig that burned and sank off the Louisiana coast last week. Wreck removal coverage was only to the extent …
Tornadoes that killed 10 people in Mississippi destroyed at least 700 homes and did tens of millions of dollars in damage, state authorities said Monday. Homeowners and local authorities began a clean-up operation in some of the state’s central counties …
Zurich Financial Services announced that, based on preliminary estimates, it expects aggregate claims payments related to the earthquake in Chile of approximately $200 million before tax. Zurich added that the estimate is “net of reinsurance recoverable and includes reinsurance reinstatement …
Dozens of tornadoes left a path of destruction more than 50 miles long throughout the southern U.S.—including Alabama, Arkansas, Georgia, Louisiana, Mississippi and Tennessee—over the weekend. Ten people were killed in Mississippi. According to catastrophe risk modeling firm AIR Worldwide, …
Gov. Arnold Schwarzenegger has estimated the Easter earthquake caused about $91 million in damage in impoverished Imperial County. Schwarzenegger’s office sent a letter to the federal government with the preliminary estimate and asked that the quake that left two people …
