Reinsurance
Canadian Earthquake Cat Modeling Gets an AIR Worldwide Revamp
AIR Worldwide revamped its earthquake model for Canada, with updates covering seismicity, paleoseismic and active fault data, among other areas. Simply put, the Massachusetts-based catastrophe risk ...
‘Funnel of Fire’ Destroyed 100 Homes in Washington; Fires Continue
A fire racing through rural north-central Washington destroyed about 100 homes as of Friday, leaving behind smoldering rubble, solitary brick chimneys and burned-out automobiles as it blackened ...
Atrium Underwriting Is Lead War Insurer for Malaysia Air Jet
The Malaysia Airlines jet that was shot down over the eastern Ukraine amid a Russia-backed rebel insurgency was insured by Atrium Underwriting Group Ltd. in case of war, the company confirmed in an ...
Wildfire Lawsuit Plaintiffs Get Record Settlement from Aussie Electric Co.
Survivors of one of Australia's deadliest wildfires are to be awarded nearly 500 million Australian dollars in a class-action settlement reached last Tuesday, the largest such compensation in the ...
Insured Losses From Hurricane Arthur Will Not Exceed $250M: RMS
Insured losses from Hurricane Arthur—the first hurricane to make landfall in the U.S. since 2012's Hurricane Sandy—will not exceed $250 million from wind and coastal flooding, according to ...
Soft Reinsurance Market Dampens Platinum’s Q2
For Bermuda-based Platinum Underwriters Holdings, Ltd., the 2014 second quarter offered plenty of downbeat statistics that showcase the struggles reinsurers face in an ever-softening market. Compared ...
Liberty Mutual Punts $3.3B in Liabilities to Berkshire Hathaway Arm
Liberty Mutual Insurance is ceding $3.3 billion in asbestos, environmental and workers compensation liabilities to Berkshire Hathaway subsidiary National Indemnity Company in one of the larger ...
Senate Overwhelmingly Approves TRIA Renewal Bill
The U.S. Senate overwhelmingly approved a bipartisan bill that would renew the Terrorism Risk Insurance Act, even as the House struggles to schedule a floor vote for its version before the August ...