Two congressional leaders on Wednesday asked the U.S. Department of Housing and Urban Development to reject a Mississippi plan to divert $600 million in Hurricane Katrina housing funds to an expansion project for the State Port at Gulfport. Reps. Barney …
The New Jersey-based Chubb Group announced that Federal Insurance Company, a member of the Chubb Group of Insurance Companies, has received approval from the China Insurance Regulatory Commission (CIRC) to convert its Shanghai branch to a wholly owned insurance subsidiary. …
Jean-Paul Rignault, chief executive of AXA Corporate Solutions, called for premium rates to be stabilized if insurers are to achieve adequate pricing and the current soft market cycle, now taking hold, is to flatten out. He spoke at the close …
Hundreds of new insurance initiatives, including green building credits, drought-protection in developing countries and incentives for investing in renewable energy and carbon emissions trading are being offered to tackle climate change and rising weather-related losses in the U.S. and globally, …
Senate leaders have agreed on a bill to renew the federal terrorism reinsurance program, although without some of the added provisions and for not as long as the House of Representatives wants. The Senate Banking Committee, chaired by Sen. Chris …
Mattel Inc., which spent much of the past quarter dealing with fallout from massive toy recalls, said that the impact could hurt sales during the quarter that includes the holidays, even though it saw its third-quarter profit slip only 1 …
France’s AXA Group announced the creation of a €100 million ($142 million) global “AXA RESEARCH FUND” to be launched in early 2008. The Fund will be active over thenext five years and will be managed by a Scientific Board chaired …
Strong worldwide economic growth has accelerated the level of greenhouse gas emissions in the atmosphere to a dangerous threshold scientists had not expected for another decade, according to a leading Australian climate change expert. Scientist Tim Flannery told Australian Broadcasting …
Criminal activity in identity fraud touches more than a quarter of a million victims each year in Washington state, and “sucks” well more than $1 billion from the state’s economy, according to Seattle-based PEMCO Insurance. Fraud crimes account for losses …
$55.5 million The tally for disaster aid to Texas residents and businesses affected by June 16 – Aug. 3 severe storms, tornadoes and flooding comes to $55,541,143, according to state and federal officials. The aid comes from the U.S. Department …
