The terrorist attacks of Sept. 11, 2001, the tsunami of December 2004, Katrina, Rita, the October 2005 earthquake in Pakistan/India. What can we make of all these man-made and natural catastrophes? They are bigger than insurance; they are bigger than …
The plane crash yesterday in the city of Medan on the Indonesian Island of Sumatra has taken 147 lives, 47 on the ground. Remarkably 14 people survived when the Boeing 737-200, operated by low-cost airline Mandala, went down. The cause …
A.M. Best Co. announced that it has affirmed the financial strength rating of “B+” (Very Good) of Hong Kong-based Tugu Insurance Company Limited (Tugu) with a stable outlook. “The rating reflects Tugu’s improving operating performance, strong capitalization and financial flexibility …
A Boeing 737-200, operated by low-cost airline Mandala, crashed into a densely populated part of the city of Medan on the Indonesian island of Sumatra early this morning, Sept. 5, shortly after take off. All 117 persons aboard the plane …
American International Group has signed an agreement to provide funding to rebuild Peunayong Market, the biggest fish market in Banda Aceh, Indonesia. The total value of the Peunayong Market project is estimated at $525,000. The project is expected to be …
Regardless of whether or not the U.S. Federal Government authorizes an extension to TRIA (Terrorism Risk Insurance Act) beyond the end of this year, terrorism remains a very real threat and should not be ignored. According to Aon’s 2005 Terrorism …
Odyssey Re Holdings Corp. announced that it expects after-tax net losses in the range of $26 million to $29 million during the first quarter of 2005. The increase is attributable to losses from Windstorm Erwin and an increase in previously …
A report, prepared by the United Nations Environment Program (UNEP), entitled “The Millennium Ecosystem Assessment,” concludes that many of the planet’s essential systems are endangered, primarily due to human activity. It warns that, if left unchecked, the consequences could be …
A severe earthquake, measuring 8.7 on the Richter Scale, struck several Islands off the Northwest Coast of the Indonesian Island of Sumatra at around 11:15 p.m. local time (11:15 a.m. EST) causing heavy damage and loss of life. The most …
Two Aon subsidiaries, Aon Re Global and Impact Forecasting, LLC, have released a report on 2004’s natural catastrophes, describing “a year of freakish weather patterns, ending with the worst natural disaster in modern times: the December 26th tsunami.” The report …
