Claims / Legal
11 States Battle Drought, Heightened Wildfire Risk
Federal officials have designated portions of 11 drought-ridden western and central states as primary natural disaster areas, highlighting the financial strain the lack of rain is likely to bring to ...
Top 5 Reserve Boosts in 2013; Fitch Reveals Carriers with Unfavorable Development
Although the property/casualty insurance industry overall will report favorable loss reserve development from prior underwriting periods for the eighth consecutive year in 2013, several individual ...
Five Insurers Lead P/C Industry to 8th Year of Reserve Takedowns: Fitch
Headline reserve charges for Tower Group, Meadowbrook Insurance Group and QBE Americas in 2013 didn't interrupt an eight-year trend of overall prior-year reserve takedowns for the property/casualty ...
Canadian Insurers Pay Record C$3.2 Billion in Weather Claims
Canadian insurance companies paid a record C$3.2 billion ($2.9 billion) to claimants last year as the country coped with weather-related disasters, an industry group said. The ice storm in December ...
Latest New Zealand Quake Adds to Growing List in Region, AIR Says
Reporting on the latest earthquake to strike New Zealand earlier this week, catastrophe modeling firm AIR Worldwide said the magnitude 6.2 quake was one of many to shake the region over the years. ...
Northridge Earthquake Today Could Cost Insurers $20B: RMS
An earthquake like 1994's Northridge, California quake could cause $20 billion in insured losses today, catastrophe modeling firm RMS said last week. RMS made the announcement on Friday, Jan. 17, ...
Oracle Denied Bid to Have D&O Insurer Beazley Pay $20M Over Ellison Acquisition
Oracle Corp. can't rely on an insurer to pay $20 million to help settle shareholder claims over the software maker's acquisition of a company controlled by Oracle founder Larry Ellison, a judge ...
U.N. Report Outlines Climate Change Solutions
Governments may have to extract vast amounts of greenhouse gases from the air by 2100 to achieve a target for limiting global warming, backed by trillion-dollar shifts towards clean energy, a draft ...