A new report from Marsh has concluded that “despite the global recession, the commercial insurance market remained stable in the second half of 2009. This provided many organizations across Europe, the Middle East and Africa (EMEA) with opportunities to enhance …
Global business leaders warned Western governments on Wednesday that a populist crackdown on the financial industry could crimp a fragile recovery from the worst recession since the 1930s. The worried response to U.S. President Barack Obama’s plans to tax and …
A cargo ship and a chemical tanker have both been hijacked by pirates in the perilous waters off the coast of Somalia, bringing to four the number of ships seized in the past week, officials said Saturday. The multiple hijackings …
Somali pirates have hijacked a UK-flagged chemical tanker in the Gulf of Aden, the first merchant vessel to be seized in the area in nearly six months, a maritime watchdog said Tuesday. Noel Choong, who heads the International Maritime Bureau’s …
A radical Greek anarchist group claimed responsibility Monday for an overnight bomb attack that damaged an insurance company headquarters in central Athens, and pledged to step up its bombing campaign. Nobody was hurt in the explosion Sunday night outside the …
The European Union increased pressure on the International Monetary Fund on Friday to consider a global tax on financial transactions to limit the risk of another economic crisis. In a draft statement expected to be approved on the second day …
The heaviest rainfall in at least eight decades sent flash floods barreling across a major highway and into busy business districts in Istanbul, Turkey’s largest city, on Wednesday, trapping factory workers and truck drivers in their vehicles and, according to …
AIR Worldwide Corporation has updated its probabilistic earthquake risk model for the Mediterranean region. The Boston-based catastrophe risk modeling firm, noted that the model is “used by European insurers, brokers, and reinsurers to manage earthquake risk in this region.” The …
Australia, Canada, Spain, France, Italy, Greece, California: They’ve all experienced devastating wildfires. Is there a connection? In February bush fires swept through large parts of the state of Victoria, killing 173 people and destroying more than 2,000 homes. The fires …
A bulletin from Risk Management Solutions notes that over the past 24 hours, the wildfire situation in Athens has greatly improved, but continues to be closely monitored as there is a high risk of further flare-ups. In addition RMS noted …
