Claims / Legal
EQECAT Puts Insured Typhoon Losses Below $100M
Insured losses from Typhoon Haiyan won't surpass $100 million, catastrophe modeling firm EQECAT predicted Tuesday. Noting that storm surge and the strong winds sustained by Haiyan as it moved across ...
Thus Far, 2013 Is Seventh Hottest Year, More Warming Expected: WMO
This year is the seventh warmest since records began in 1850 with a trend to weather extremes and the impact of storms such as Typhoon Haiyan in the Philippines aggravated by rising sea levels, the ...
Judge Rakoff Hits Failure of U.S. to Prosecute Wall Street Executives for Fraud
The federal judge who oversaw the recent civil fraud trial against Bank of America Corp. criticized the U.S. Department of Justice on Tuesday for failing to prosecute high-level executives over the ...
Flaws Seen in Philippine Disaster Prep, Response
Hours before Typhoon Haiyan hit the Philippines, authorities had evacuated 800,000 people and sent them to sturdy evacuation centers—churches, schools and public buildings. But the brick-and-mortar ...
Haiti, Philippines Suffered Most from Climate-Related Disasters
Haiti and the Philippines suffered the biggest climate-related disasters last year, a study showed as United Nations envoys from 195 nations discussed ways to assist countries coping with the impacts ...
Moody’s, S&P and Fitch Sued Over Failed Bear Stearns Funds
The liquidators of two Bear Stearns hedge funds filed a lawsuit on Monday against the three major U.S. rating agencies, accusing them of fraudulently assigning inflated ratings to securities in the ...
Eastern Asia Underinsured for Floods, Typhoons: Munich Re
Insured losses from weather-related events in Eastern Asia amount to only about 10 percent of the $700 billion in total losses accumulated over the last three decades, according to an analysis by ...
Typhoon Seen Worse for Philippines Economy than Sandy for U.S.
Destruction from Typhoon Haiyan, which flattened buildings and unleashed storm surges that may have killed 10,000 people, could be several times worse for the Philippines economy than Superstorm ...