A recent study released by Swiss Re, confirms that insured catastrophe losses for 2000 totaled $10.6 billion, falling significantly below those in 1999, which reached $32.9 billion.The survey also concluded that p/c reinsurance rates were on the rise, but warned …
According to the International Maritime Bureau, modern day piracy is on the increase with a record 469 attacks on shipping reported last year, resulting in 72 deaths, 99 persons injured, and 26 missing in addition to significant cargo losses. Modern …
According to the International Maritime Bureau modern day piracy is on the increase with a record 469 attacks on shipping reported last year, resulting in 72 deaths, 99 persons injured, and 26 missing in addition to significant cargo losses. Modern …
This month, Applied Insurance Research Inc., a Boston-based catastrophe modeling firm, will be offering free seminars in Seattle, Los Angeles and San Francisco to demonstrate a new site-specific risk assessment capability for corporations exposed to large losses from earthquakes. The …
While the search for survivors continues, Indian authorities are beginning to calculate the economic costs of the destruction wrought by the worst earthquake in 50 years. First estimates indicate the costs of repairing damaged property at 150 billion rupees ($3.3 …
As foreign teams joined local rescue workers in a desperate race to comb the wreckage for any survivors of India’s worst earthquake in 50 years, estimates of the the number of people killed exceeded 20,000. The devastation is spread over …
Damage reports are still coming in from the huge earthquake, estimated to have measured 7.9 on the Richter scale, which struck near the town of Bhuj in the Indian State of Gujarat at 8:50 a.m. local time this morning. At …
American International Group announced that it has received approval from the Indian Insurance Regulatory and Development Authority to establish a joint venture with the Tata Group “to market commercial and personal lines property-casualty insurance in India.” “We are very pleased …
The Canada Life Insurance Co. has decided not to pursue plans for a joint venture in India for the time being, citing its expansion commitments into reinsurance and the Brazilian and German insurance markets as the reason. CEO David A …
Holland’s ING became the latest big global insurance group to announce the formation of a joint venture with Indian partners in order to enter India’s insurance market. ING will hold a 26 percent interest, the maximum permitted under Indian regulations, …
