News
AIR Worldwide: Tough Building Codes Will Counter Cyclone Ita’s Wrath
Tropical Cyclone Ita slammed into the north Queensland coast late Friday, but tougher building codes, a sparse population near landfall and the relatively small size of the storm will minimize ...Ship Owners Have to Provide Insurance, Bond for Stranded Merchant Sailors: New UN Rule
Sailors stranded on merchant ships without food, supplies or a way home won new safeguards. Ship owners will have to provide insurance or a bond to pay for sailors' wages and repatriation under a new ...
Drought, Winter Storms Led March Insured Losses: Impact Forecasting
Severe drought, flooding and winter storms topped the list of natural perils in March, according to the latest Global Catastrophe Recap report from Aon Benfield's Impact Forecasting. The U.S. was hit ...
April Renewals Bring Price Reductions, Focus On Tailored Coverage: Guy Carpenter
Strong balance sheets and an abundance of capacity led to lower reinsurance pricing across most territories and business segments for April 1 renewals, according to Guy Carpenter. "Despite a spike in ...
Australian Ports Shut in Advance of Storm; Intensifying to Yasi Strength
Residents of Australia's Queensland state sought refuge in evacuation centers and stocked up on provisions ahead of the strongest storm since Cyclone Yasi flattened homes and downed power lines in ...
Aon CEO Case Defends Berkshire Deal; Sidecar Innovation ‘Good for London’
Aon Plc, the broker that was criticized by Lloyd's of London for a deal with Warren Buffett's Berkshire Hathaway Inc., said the relationship actually helps make the U.K. insurance market more ...
Colorado Forecasters Predict Quiet Atlantic Hurricane Season
Rising heat in the equatorial Pacific Ocean portends the quietest Atlantic hurricane season in five years, Colorado State University researchers said. Nine named storms, with winds of at least 39 ...
Threat of ‘Heartbleed’ Computer Bug Spreading to Firewalls
Hackers could crack email systems, security firewalls and possibly mobile phones through the "Heartbleed" computer bug, according to security experts who warned on Thursday that the risks extended ...