The Bermuda-based Argo Group International Holdings announced that it “expects to report in its 2010 fourth quarter financial results approximately $12 million of additional estimated pre-tax loss provisions, net of reinsurance and reinstatement premium, related to new and updated information …
Massive floods shut down the centre of Australia’s third-largest city, sent thousands fleeing from their homes and sparked panic buying of food on Wednesday as rescuers searched for 43 people missing in floodwaters. Australia’s biggest floods in a century have …
The administrator of BP’s $20 billion oil spill claims fund has promised fairness and speed in compensating victims, but angry fishermen and business owners are complaining that they’re still not getting what they deserve. Attorney Kenneth Feinberg met Monday with …
The devastating floods in Queensland state that forced evacuation in Brisbane, Australia’s third-largest city, are expected to be a near $1 billion event for insurers, though reinsurance is seen covering more than half of it. That would mean the flood …
Authorities urged thousands of residents to leave the outskirts of Australia’s third largest city on Tuesday as others sandbagged homes and stockpiled food in anticipation of rising floodwaters and further heavy rain. Ten people died overnight, with cars and pedestrians …
Incoming Alabama Attorney General Luther Strange says he will hold nothing back to make sure the state and its citizens are compensated for all losses because of last year’s massive BP oil spill. Strange said he will personally lead the …
Residents in Australia’s third largest city, Brisbane, sandbagged their homes against rising waters on Monday as torrential rain worsened floods that have paralyzed the coal industry in the northeast and now threaten tourism. Prime Minister Julia Gillard said the cost …
Bermuda-based Omega Insurance Holdings Limited, which is also a leading LLoyd’s insurer, has issued a revised estimate of the losses it expects to incur from claims related to the earthquake, which struck New Zealand on Sept. 4. Omega explained that …
Swiss Re Capital Markets has successfully structured and placed €75 million [app. $97 million] of notes issued by Green Fields Capital Limited covering French windstorm events. “Green Fields is a newly established Irish special purpose company incorporated with limited liability,” …
Australia’s record floods are causing catastrophic damage to infrastructure in the state of Queensland and have forced 75 percent of its coal mines, which fuel Asia’s steel mills, to grind to a halt, Queensland’s premier said on Wednesday. The worst …
