AIG, the world’s largest insurer by market value, is now expecting $800 million in claims from the World Trade Center before taxes and net of reinsurance, Chairman Maurice Greenberg said in a conference call. According to a Reuters report, this …
The National Association of Independent Insurers (NAII) outlined five specific recommendations to help victims and insurers expedite the claims process and streamline the financial recovery from terrorist attacks and other catastrophes. “NAII’s key message is that insurance mechanisms should be …
New York’s Governor George Pataki unveiled a plan which calls on the Federal Government to provide $34 billion rebuild the the World Trade Center and the area around it, and an additional $20 billion in funds to stimulate New York …
A number of global insurers/reinsurers have acknowledged greater exposure to claims related to the destruction of the World Trade Center, with increased estimates for the amount they expect to pay out. The total cost to the world insurance industry of …
The New York State Insurance Department has established a “comprehensive insurance fraud-fighting plan specifically designed to combat any incidents of insurance fraud resulting from the World Trade Center tragedy.” Superintendent Gregory V. Serio indicated that so far there had been …
Houston-based HCC Insurance Holdings Inc. pledged a $100,000 contribution to the families of policemen and firefighters killed in the line of duty as a result of the Sept. 11 terrorists attacks on New York and Washington, D.C., and encouraged the …
The financial and human losses from the events of Sept. 11 continue to haunt insurance companies at home and around world. Insurers have been assessing the impact and are beginning to pay claims with an as yet undetermined effect on …
The Hartford Financial Services Group Inc. plans to raise equity capital to replace its estimated $450 million reduction in shareholders’ equity from the World Trade Center disaster of Sept. 11. The company plans to raise roughly half the required funds …
Claims processing and loss information management company Corporate Systems Inc. is gearing up its Amarillo call center to handle thousands of insurance claims stemming from the attacks on the World Trade Center on Sept. 11. The company, which handles claims …
The destruction of the World Trade Center on Sept. 11, was a disaster from a variety of points of view. President Bush is right: it was the embodiment of evil, as are most terrorist attacks on civilians. It is also …
