In the aftermath of Sept. 11, many insurance companies made announcements that they would forego consideration of their policies’ “war risk” exclusion to World Trade Center-related claims. The insurers decisions were rightly applauded as the recognition of the need to …
Risk Management Solutions (RMS) announced the release of its newly upgraded company website at www.rms.com. The new site serves as an entry point to weather risk, and enterprise risk management. It also features a password-protected Client Resources area for licensees …
The amount of pain and suffering that people have to deal with in the normal course is already there, then it’s compounded when people show their worst side at times like this,” said John Eager, senior director of claims for …
I’ve seen some of you. Not many, but some. I’ve talked to many of you, on the phone and at conventions, read about others. But there are thousands of you that I will never get to meet, speak with or …
The developer who had control of the World Trade Center (WTC) at the time of the Sept. 11 attacks is seeking $7.2 billion from his insurers, double his $3.6 billion in coverage. WTC leaseholder Larry Silverstein has asked Congress to …
Houston-based HCC Insurance Holdings Inc. confirmed its net loss from the World Trade Center disaster would be approximately $30 million before tax. Losses are expected to arise primarily from the property, A&H and WC reinsurance business written by HCC’s largest …
Hannover Re, the world’s 5th largest reinsurance group, announced Friday that it would not pay a dividend to shareholders this year due to the losses it expects from the attacks on the World Trade Center. The company has estimated it …
Property and Casualty insurers, already wary of terrorism before the September 11 attack, are very likely to begin pricing “terrorist attack risk” separately from other coverages, according to a new forecast from Conning & Company. This and a reassessment of …
Munich Re has just released a preliminary study of the attack on the World Trade Center which contains not only a detailed analysis of what led to the collapse of the twin towers, but also states that “the private insurance …
Hartford Financial Services Group Inc. said it will take a loss of $440 million in the third quarter for paying claims arising from the destruction of the World Trade Center Sept. 11 and said it envisions an operating loss in …
