The El Nino warming the Pacific Ocean since June has peaked, but is expected to influence climate patterns worldwide up to mid-year before dying out, the World Meteorological Organisation (WMO) said Tuesday. However, the United Nations agency said that forecasting …
A.M. Best Co. has assigned a debt rating of “bbb+” to the recently issued $500 million 5.875 percent senior unsecured notes due 2020 of Axis Specialty Finance LLC. The senior notes are unconditionally and irrevocably guaranteed by Bermuda-based Axis Capital …
The Climate Change debate rolls on, but real decisions and effective actions remain elusive. Hardly a week goes by without a new report or study on the changes affecting the atmosphere, but the general public appears to be contracting “climate …
A tropical cyclone forced Australia’s second-biggest coal port to close on Friday, bringing millions of tons of coal shipments to a halt and threatening to damage thousands of acres of sugar-cane fields. Australia’s Dalrymple Bay coal terminal ceased operations due …
Malaysia and Indonesia said on Thursday they are stepping up security in the Strait of Malacca, one of the world’s busiest shipping lanes, following the Singapore navy’s warning of possible attacks on oil tankers. The Singapore navy “has received indication …
Singapore said on Friday it had raised alert levels in the city-state and beefed up security at its airport and new casino resorts after a warning of possible attacks on oil tankers in the Malacca Strait. [See IJ web site …
The deadly El Nino weather anomaly should dissipate by early summer in the northern hemisphere, but there is a chance a weak version will linger for the rest of 2010, according to a U.S. government report issued Thursday. The federal …
First Toyota, then Honda – who’s next? 2010 is not starting out as a good year for car companies. Japan’s Toyota Motor Corp. was already in the process of recalling approximately 8 million vehicles, due to problems with the accelerator …
The appalling loss of life from the earthquake that struck Haiti on January 12 has now been estimated by the government to exceed 230,000. The figure is an approximation, as the exact number may never be known. But it is …
“Rates for Mining Property Damage & Business Interruption (PD/BI) insurance are likely to soften in 2010, but could harden again should this volatile sector experience a catastrophic loss, according to the latest Mining Market Review from Willis Group Holdings. Willis …
