The chance of a significant earthquake rocking the Reno-Sparks, Nev., area over the next half century is on the rise, with a 67 percent likelihood a magnitude 6.0 will strike within 31 miles by 2060, a new report said. That’s …
Swiss Re released its preliminary estimates for losses from the magnitude 8.8 earthquake that hit Chile on February 27 – $500 million – and from European windstorm Xynthia – $100 million. Both estimates are “net of the benefits of retrocession.” …
Last month’s huge earthquake in Chile might cost the insurance industry up to $7 billion in damage claims, the world’s top two reinsurers said, but it looks unlikely to raise reinsurance prices. World leader Munich Re said it expected the …
Bermuda-based PartnerRe Ltd has issued preliminary estimates of expected claims from the earthquake in Chile and European Windstorm Xynthia. Total insured industry losses from the M8.8 earthquake in Chile, which hit on February 27, 2010, “will be in the range …
The Association of Bermuda Insurers and Reinsurers (ABIR) has filed an opposition to HR 2555 which, the Association warns would “replace private sector risk bearing capital with government reinsurance and government guarantees of state debt.” In a letter addressed to …
An earthquake, initially measured at magnitude 6.0, struck eastern Turkey early this morning, March 8, centered in the Province of Elazig. A report from Risk Management Solutions indicates that the U.S. Geological Survey (USGS) placed the quake’s “fixed focal depth …
Utah schools would be sized up to see how they would fare in the event of a major earthquake under a bill passed by the state House. The House, on a 50-18 vote, sent House Bill 72 to the Senate …
Earthquake in New Jersey “It felt like the whole room was shaking around us, and a loud explosion afterward.” —Bernardsville, N.J. police Sgt. John Remian, commenting on a minor earthquake last month that rattled homes in several areas of Somerset …
Scrubbing ‘Gotcha’ Clauses “Our goal is to scrub ‘gotcha’ clauses out of insurance contracts before they’re sold to Michigan consumers.” —Michigan Office of Financial and Insurance Regulation Commissioner Ken Ross is requiring insurance companies to submit to OFIR all new …
February was a short month, but a deadly one. In addition to a massive earthquake in Chile, the Northeastern U.S. was hit by three blizzards; floods and mudslides ravaged the Portuguese island of Madeira and beleaguered Haiti, and a violent …
