A softening casualty market, strong company earnings, and a quiet catastrophe season resulted in the reinsurance industry enjoying, in 2009, one of its most profitable underwriting years in nearly a decade. Today, reinsurers must continue to push-back on multi-year deals …
Fear that oil from a huge BP Plc spill will damage Mississippi’s coast is hurting the state’s economy more than oil damage itself, according to a new report. Tourists are staying away from restaurants and hotels and sport fishing is …
The U.S. Senate yesterday again voted down a legislative package on jobless benefits, Medicare payments to doctors and business tax breaks that also contains reauthorization of the nation’s flood insurance program. Despite reducing the overall cost of the package, Democrats …
European Union leaders hope to agree on ways to strengthen budget discipline and economic policy coordination on Thursday to show financial markets they can prevent a repeat of the euro zone debt crisis. Leaders of the 27 member states and …
The Gulf of Mexico oil spill will cost Mississippi’s coastal counties nearly $120 million in lost tourism and service industry revenues this summer season, even though the state’s beaches have not been hit by crude, say researchers at the University …
President Barack Obama, seeking to demonstrate strong leadership on the Gulf of Mexico oil spill, will demand today that BP set aside billions of dollars to pay damages from the catastrophe. A day after he vowed to fight the spill …
Legislation intended to improve the Oklahoma workers’ compensation system for injured workers was signed into law June11 by Gov. Brad Henry. The governor’s signature on the measure also reduces by one the number of proposals voters will have to decide …
President Barack Obama will press BP executives this week to set up an escrow account to pay damage claims by individuals and businesses hurt by the Gulf of Mexico oil spill disaster. The move comes as Obama, who will address …
North Carolina’s current cap for monetary damages it could receive from oil spills would be eliminated in legislation approved last week by a House committee in response to the BP disaster in the Gulf of Mexico. Environmental groups lined up …
A fragile global economy, excess capacity in virtually every line of commercial insurance and last year’s below-average catastrophic losses combined to keep commercial insurance prices flat during the first quarter of 2010. This marks the fifth consecutive quarter of little …
