Claims / Legal
Next Generation Cat Modeling: Multimodel, Open Source or Open Platform—What’s the Difference?
For the past two decades, insurers and reinsurers have licensed catastrophe models from AIR, RMS and EQECAT, and each vendor model came with its own front and back end to handle the model input and ...
U.S. Wildfires Get Bigger, More Frequent; Climate Change May Continue Trends
Wildfires across the western United States have been getting bigger and more frequent over the last 30 years—a trend that could continue as climate change causes temperatures to rise and drought to ...
Boston Marathon Attacks Changed Terrorism Insurance Customer Base
For landlord Peter Zagorianakos, terrorism insurance wasn't a necessity until the bombs went off last April at the Boston Marathon and revealed a frightening pattern. Two buildings he owns stand ...
Forecasters to Issue Special Maps, Warnings on Storm Surge
Forecasters at the National Hurricane Center hope new color-coded maps they're trying out this year will simplify two important points about storm surge for coastal residents: how far from the beach ...
NYAG Schneiderman Probing High-Speed Traders
The New York attorney general is probing more than half a dozen high-speed trading firms, a person familiar with the matter said on Wednesday, as part of his wide-ranging probe into alleged unfair ...
NHL Sued by TIG Insurance Over Defense of Concussion Lawsuits
The National Hockey League was sued by an insurer seeking to limit its duty to defend the league in lawsuits alleging it concealed the long-term effects of concussions and failed to warn players of ...
BofA Settles with FGIC, Mellon Over Mortgage Securities for $950M
Bank of America Corp., the second- largest U.S. lender, said it reached a $950 million settlement tied to residential mortgage securities backed by Financial Guaranty Insurance Co. The accord ...
Why Hands-Free Cellphones Are Not Safer: Safety Council
A National Safety Council public opinion poll indicates that 80 percent of drivers across the country believe that hands-free devices are safer than using a handheld phone despite evidence to the ...