As more states are allowing souped-up golf carts and other low-speed vehicles on public roads, safety researchers for the insurance industry say they should apply the brakes to this trend even though the carts may be eco-friendly. Crash tests by …
Risk Management Solutions announced the addition of Japan earthquake to its existing suite of parametric industry loss indices covering U.S. hurricane, U.S. earthquake, and Europe windstorm. RMS said: “Paradex Japan Earthquake – the first parametric index for this peril region …
Standard & Poor’s Ratings Services has affirmed its ‘A-‘ long-term counterparty credit and insurer financial strength ratings on AG Insurance and the operating entities of Millenniumbcp-Fortis Grupo Segurador S.G.P.S. S.A.; its ‘BBB-/A-3’ issuer credit rating on holding companies Ageas N.V. …
Bermuda’s Minister of Finance, the Hon. Paula A. Cox, announced that Bermuda has concluded negotiations for a bilateral agreement with the Italian Republic that will, “upon signing later this year, provide for a full exchange of information on criminal and …
Veteran Costa Rican climate diplomat Christiana Figueres is set to be appointed as the new United Nations climate chief, sources familiar with the matter said on Monday. The sources said U.N. Secretary-General Ban Ki-moon had chosen Figueres over former South …
Risk Management Solutions (RMS) announced that China Reinsurance (Group) Corporation, the largest reinsurer in Asia, will “license its catastrophe modeling software to support the expansion of China Re’s property and casualty reinsurance business. “China Re will use RMS’ models for …
A $1 trillion global emergency rescue package to stabilize the euro reversed the slide in world financial markets on Monday but left longer-term questions about whether Europe’s weakest economies can manage their debt. The plan, hammered out by European Union …
Oil major BP Plc said the oil spill in the Gulf of Mexico had cost it $350 million so far, suggesting the final bill could be much higher than many analysts predicted, and hitting the company’s shares. BP said in …
European airports started to return to life on Tuesday after five days cut off from the rest of the world by a volcanic ash cloud, but some countries were more cautious after reports a new cloud might be on its …
The economic impact of the volcanic cloud halting flights across Europe will increase sharply the longer disruption continues, forcing holiday cancellations, delaying deliveries and reducing jet fuel demand. African exporters of flowers and vegetables by air to European supermarkets, technology …
