Risk Management Solutions (RMS), Newark, Calif., has updated its U.S. and Canada Earthquake models. “Earthquakes east of the Rockies are less common than in the tectonically active West, but can be more severe due to the slower attenuation of ground …
New research suggests earthquake shaking can trigger aftershocks many miles from the epicenter, countering the popular view that they tend to cluster near the main shock. That might help scientists forecast where aftershocks will strike next. The new theory grew …
American International Group, Inc. is donating $1 million to support relief efforts in the areas affected by the May 27 earthquake in Indonesia. President and CEO Martin J. Sullivan explained: “The earthquake in Indonesia has left hundreds of thousands homeless …
Swiss Re has obtained $950 million worth of protection against North Atlantic Hurricanes, Europe Windstorms, Californian Earthquakes and Japan Earthquakes through a natural catastrophe protection program named “Successor”, a follow-up vehicle to its “PIONEER” and “Arbor” programs. Successor becomes the …
Standard & Poor’s Ratings Services has assigned its senior secured debt ratings to the principal at-risk variable-rate notes issued under Swiss Reinsurance Co.’s Successor shelf program (See previous areticle). “These are the first issuances under the seven newly established $1.5 …
Allstate Insurance Co. says it is dropping earthquake insurance to most of its 407,000 quake customers nationwide as a part of a larger move to reduce exposure to catastrophic losses. Allstate Spokesman Mike Siemienas in Chicago said four states require …
General Motors, Shanghai General Motors Corp. received approval to open an office in Shanghai as a step toward beginning insurance operations in China. Detroit-based GM said that Motors Insurance Corp., part of the insurance unit within the automaker’s General Motors …
Mississippi Insurance Commissioner George Dale says there is no way he will approve a 397.8 percent increase in wind pool insurance for coastal residents. “We will do everything we can to find avenues to offset that because the coast has …
Standard & Poor’s Ratings Services has assigned its ‘BB’ counterparty credit rating to Bay Point Re Ltd. and its ‘BB’ senior secured debt rating to Bay Point’s term loan debt facility of up to $125 million with a stable outlook. …
Newark, Calif.-based Risk Management Solutions has launched “a fundamentally new platform for quantifying wind-related risk in 12 European countries,” said the announcement. “Meteorological modeling has been extended to include a comprehensive suite of wind events enabling loss calculations both from …
