Claims & Reserving
Colorado Wildfire Cost Insurers $292.8M
The Colorado Black Forest wildfire cost insurers $292.8 million and ruined a record 486 structures, making it the second-most costly fire in the state's history. Policyholders submitted 3,630 home ...
Paint Makers’ $900M Lead Paint Trial Underway in California
BP Plc's Atlantic Richfield Co. is among five companies fighting a public nuisance lawsuit in state court seeking $900 million to replace or contain lead paint in millions of California homes. In a ...
Conn. Says Insurers Must Complete Climate Risk Survey
Connecticut Insurance Commissioner Thomas Leonardi has decided that about 110 Connecticut-based insurance companies will be required to complete a survey describing what they are doing to address ...
NC Residual Market Prepped For Storms With $500M In Cat Bonds, HO Rate Hikes
North Carolina's two residual homeowners insurance markets have jointly issued $500 million in pre-event catastrophe bonds to ensure they have enough money on hand to quickly pay claims following ...
Dodd-Frank Rules Should Be Mostly Complete By End of 2013, Say Regulators
Dodd-Frank Act measures designed to prevent a repeat of the global credit crisis will be largely complete by the end of this year, financial regulators plan to tell lawmakers at a hearing today on ...
XL Among Insurers of Railway Involved in Deadly Quebec Explosion
XL Group Plc said it's among the insurers of the railroad involved in Canada's worst train disaster in 27 years. XL "can confirm that we are an insurer of the Montreal, Maine & Atlantic Railway," ...
Texas Taxpayers Off Hook for Unfunded Losses of Windstorm Plan, Says AG Abbott
Texas' attorney general says the state is under no obligation to pay outstanding claims for the insurer of last resort for coastal properties should that organization not have sufficient funds to pay ...
Insured Damage from European Floods Will Near $3.8B, Says Munich Re
Flooding in Europe last month will cause more than 12 billion euros ($15.5 billion) of damage, the year's most expensive natural catastrophe, according to Munich Re, the world's biggest reinsurer. ...