Willis Group Holdings Limited has released its annual reinsurance renewals report for July 2008. Titled – “Whose Cycle is it Anyway?” – the report found that,”while softening in the reinsurance market continues unfettered, a disparity remains between reinsurance and primary …
The U.S. property/casualty insurance industry’s net income after taxes fell to $8.2 billion in first-quarter 2008 from $16.2 billion in first-quarter 2007. Contributing to the $8 billion, or 49.3 percent, decline in net income in first-quarter 2008, the industry posted …
The Port of New Orleans has set up a “satellite” office and taken steps in case another storm strikes the southern Louisiana coast during the 2008 hurricane season, an official said Friday. “We’ve tightened up on our disaster recovery plan, …
Two consecutive years of record earnings in the property and casualty insurance industry driven by lower catastrophe losses and healthy investment returns, along with unforeseen risks brought on by the subprime mortgage and credit crises, have created unique conditions in …
Bermuda’s RenaissanceRe Holdings Ltd. marked the start of the 2008 hurricane season by holding a seminar, the first ever “Hurricane Risk Mitigation Leadership Forum”, which announced some key findings on how to improve conditions to lessen the impact of the …
A congressional proposal to create a national “catastrophe fund” to help states recover from natural disasters has put Republican presidential hopeful John McCain at odds with a handful of GOP governors — including two state chief executives frequently mentioned as …
Firefighters will pump 6 million gallons an hour from two lakes to saturate a huge wildfire in eastern North Carolina that’s burned for more than two weeks. The fire, started by a lightning strike on private land, began June 1 …
They May Help the Public Think About Upcoming Storms But Forecasts Have Been Largely Misused by National Media, Says One Expert Each April, weather wizard William Gray emerges from his burrow deep in the Rocky Mountains to offer his forecast …
Well before the June 1 start of hurricane season claims costs from weather related damages were on a steady climb across the South Central states of Arkansas, Oklahoma, Texas and Louisiana. Late May, early June hailstorms in central Oklahoma likely …
Science and technology are converging with risk management to help insurers negotiate the current hurricane season such that it’s now possible to use short-term hurricane forecasts — as few as 10 days out — to design coverage targeting a specific …
