Catastrophe-risk modeler EQECAT has dramatically changed its estimate of insured losses from the Tohoku, Japan earthquake to between $22 billion and $39 billion.
Companies are operating with a “false sense of security” when it comes to cyber attacks, according to a new survey from Towers Watson released during the week of the RIMS conference.
Storms in April, mostly throughout the U.S. Southeast, are expected to cause insured losses of around $4 billion—possibly as high as $5.5 billion, according to recent estimates.
American International Group Inc. (AIG) and the U.S. Department of the Treasury say they plan to offer a small portion of stock for an unset price in an effort to better understand the underlying value of the bailed-out insurer.
Inland Marine carriers are dealing with a soft market, increased competition in this historically profitable niche, and new federal regulations that complicate the assessment of risk.
The head executive at Lloyd’s of London says the market expects rates to firm as a result of first quarter catastrophes throughout the world and the April tornadoes in the U.S.
American Family Mutual Insurance will pay 5,000 of its Arizona policyholders nearly $1.2 million after making an error involving repayment of taxes charged to contractors.