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 …
February was a short month, but a deadly one. In addition to a massive earthquake in Chile, the Northeastern U.S. was hit by three blizzards; floods and mudslides ravaged the Portuguese island of Madeira and beleaguered Haiti, and a violent …
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 …
Windstorm Xynthia, which swept across Western Europe on Saturday and Sunday, [See IJ web site – https://www.insurancejournal.com/news/international/2010/03/01/107736.htm] left a lot of damage in its wake. The storm was responsible for 59 deaths in France, with a number of people still …
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 …
A new report from Marsh has concluded that “despite the global recession, the commercial insurance market remained stable in the second half of 2009. This provided many organizations across Europe, the Middle East and Africa (EMEA) with opportunities to enhance …
Zurich Financial Services Group has announced the transfer of the “vast majority of its general insurance portfolios in Italy, Portugal and Spain to local branches of its EU-based risk carrier Zurich Insurance plc, Ireland, (ZIP) effective January 1, 2010.” Zurich …
Aon Benfield and PartnerRe have released their annual re/insurance industry report, Hazard & Risk Science Review 2009, which showcases the latest developments in the field of natural hazard and risk science. The Review, which is co-sponsored by Aon Benfield and …
AIR Worldwide Corporation has updated its probabilistic earthquake risk model for the Mediterranean region. The Boston-based catastrophe risk modeling firm, noted that the model is “used by European insurers, brokers, and reinsurers to manage earthquake risk in this region.” The …
A Miami judge ruled on Tuesday that BDO International B.V. should not have to pay $352 million in punitive damages awarded against its U.S. member, BDO Seidman, in an ongoing landmark audit malpractice trial. Closing arguments are due from Wednesday …
