As it girds for hurricane season, Texas has plenty to worry about. The Texas Windstorm Insurance Association (TWIA) – which provides coverage for high risk coastal properties – has ended up at the brink of insolvency paying Hurricane Ike claims. …
A good old-fashioned fight has developed between Bermuda-based Validus Holdings and the Max Capital Group over the latter’s planned amalgamation with IPC Re. At the end of March, Max announced that it had made a deal with IPC Re’s board …
Participants in a major conference in Indonesia this week have a rare opportunity to seek political commitment to utilizing the world’s oceans in the fight against climate change, a top official from the host country said. The World Ocean Conference …
The fight against piracy must involve efforts on land and at sea, the U.S. Navy’s top officer said Monday, saying the issue was more complex than just putting arms on commercial ships. “Pirates don’t live at sea. They live ashore. …
Southeast Asia faces one of the world’s highest climate change bills, the Asian Development Bank said on Monday, unless the region adapts to climate change and joins the rest of the world in cutting greenhouse gas emissions. The destructive effects …
Like many Californians who put down roots in earthquake country, Robin Rudisill knows the “Big One” could strike without warning. Yet from her Venice beachfront duplex, Rudisill worries about a different massive blow from Mother Nature — a tsunami. Her …
Growth in the emerging global Islamic insurance industry, or takaful, is waning slightly due to the economic slowdown, but remains strong as more people switch from conventional insurance. The global market is seen growing as much as 30 to 40 …
When an earthquake larger than magnitude 3 strikes the Northwest, an automated system is supposed to page University of Washington seismologists and notify emergency managers. But that’s not what happened on Jan. 30, 2009, when amagnitude-4.5 jolted the state. Because …
A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘B++’ (Good) from ‘B’ (Fair) and issuer credit rating (ICR) to “bbb” from “bb+” of Canada’s Coachman Insurance Company, and has revised the outlook to stable from positive. Best …
When it comes to corporate fraud scandals, nowhere is safe. Revelations of a $1 billion fraud at Indian IT firm Satyam Computer Services do not point to a higher systemic risk of accounting scandals in India, or even in emerging …
