Flights Resume in Parts of Europe
Flights from large parts of Europe are set to resume on Tuesday under a deal agreed by the European Union to free up airspace closed by a cloud of ash hurled into the sky by an Icelandic volcano. However, with …
SCOR’s Preliminary Quake, Storm Loss Estimates Around $130 Million
French reinsurer SCOR Group announced that based on preliminary estimates, it expects its related costs from the earthquake in Chile and Windstorm Xynthia to be approximately €95 million ($130 million) net pre-tax, which “represents approximately 3 percent of the projected …
PartnerRe Gives Loss Estimates for Chile Quake, Windstorm Xynthia
Bermuda-based PartnerRe Ltd has issued preliminary estimates of expected claims from the earthquake in Chile and European Windstorm Xynthia. Total insured industry losses from the M8.8 earthquake in Chile, which hit on February 27, 2010, “will be in the range …
AIR Estimates Windstorm Xynthia Insured Losses at $2 to $4.1 Billion
Catastrophe risk modeling firm AIR Worldwide has estimated that insured losses in France, Belgium, Germany, and Netherlands from winter storm Xynthia will be between €1.5 billion and €3 billion [$2 to $4.1 billion]. The storm struck the Atlantic coast of …
50 Deaths Reported as Powerful Storm Strikes Europe’s Atlantic Coast
A powerful Atlantic storm, named Xynthia, struck along the western coast of Europe Saturday night and most of Sunday, leaving at least 50 people dead in its wake. The storm packed sustained winds over 140 kmh (87.5 mph) as well …
UN Climate Chief to Quit in July
U.N. climate chief Yvo de Boer said on Thursday he will step down in July to join a consultancy group, two months after a Copenhagen summit failed to support a legally binding climate pact. His departure is unlikely to dent …
Swiss Re Forecasts Increasing Demand for Natural Catastrophe Coverage
Swiss Re has concluded that, despite the unusually quiet 2009 hurricane season, “overall natural catastrophe losses have increased significantly over time and are expected to grow further. “The premium for our book of natural catastrophe covers reached $1.8 billion. Due …
Best Affirms Amlin Bermuda ‘A’ Ratings
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Amlin Bermuda Limited (ABL), both with stable outlooks. In a separate bulletin Best affirmed the financial strength rating ‘A+’ (Superior) and …
Allstate to Auction Recovered 1965 Volkswagen Van
Allstate announced today that it will sell a recovered 1965 Volkswagen bus at auction and donate the proceeds to Lydia Place, a nonprofit organization in Washington state serving homeless women and children impacted by domestic violence. “Allstate has a long …
