$72 Million Fine to be paid by General Re Corp., to settle investor claims about its role in a fraudulent transaction involving American International Group Inc. The case centered on a transaction that investigators say allowed AIG to improperly boost …
University of South Carolina geographers have produced a map of natural-hazard mortality that gives a county-level representation of the likelihood of dying as the result of natural events such as floods, earthquakes or extreme weather. The map, recently featured in …
Airplanes and crews from Alaska’s Elmendorf Air Force have temporarily moved to southern New Mexico’s Holloman Air Force Base after warnings of a possible eruption of a volcano. The 3rd Wing from Elmendorf, near Anchorage, arrived at Holloman last month, …
The Board of Directors of the Personal Insurance Federation of California (PIFC) has voted unanimously to accept Allstate Insurance Co. as the newest member of PIFC. Allstate is the first new company to join PIFC in 15 years. Allstate joins …
A light earthquake deep under the mountains of southwestern Oregon may have left many slumbering at 2 a.m. on Feb. 26, but a geologist said it was an eye-opener. The quake was about 24 miles deep and arose from a …
Standard & Poor’s Ratings Services has placed its ‘BBB-‘ counterparty credit rating on Max Capital Group Ltd. on CreditWatch with positive implications following the company’s announcement that it will merge with IPC Holdings Ltd., a leading provider of property catastrophe …
Guy Carpenter Co., a leading risk and reinsurance specialist, has agreed to acquire John B. Collins Associates, Inc., a privately-held company and the seventh largest reinsurance intermediary in the world. Guy Carpenter said the acquisition will further strengthen its position …
Scientists have upgraded Hawaii’s seismic monitors after the 2004 Indian Ocean tsunami prompted the U.S. government to improve American tsunami warning systems. But some of the upgrades are merely temporary and haven’t been made to the highest standards. Slow-moving bureaucracy …
Insurance coverage is an expense that many small business owners might be tempted to cut back on or even forgo as they try to cut costs during the recession. They’re making a bet that they won’t need the coverage, but …
Hazard mortality is most prominent in the South, where most people are killed by severe weather, such as tornadoes. University of South Carolina geographers have produced a map of natural-hazard mortality that gives a county-level representation of the likelihood of …
