A new statewide building code in Louisiana was one of the most tangible responses by lawmakers to hurricanes Katrina and Rita. But it was done quickly, a knee-jerk reaction that many lawmakers say didn’t involve enough thought. The mandatory requirements …
Recent severe weather in Texas has prompted the Southwestern Insurance Information Service, an insurance trade group, to remind consumers that damage to their homes resulting from flooding is not covered by the standard homeowners policy. “Following a weather-related event involving …
AIR Worldwide Corporation is collaborating with the International Hurricane Research Center and the College of Engineering and Computing at Florida International University and will fund the installation of the “AIR Turntable” for the “RenaissanceRe Wall of Wind” hurricane simulator. “Just …
Shirley Ristau’s throw rugs are secured to her floor with double-sided tape. Her shoes are flat and comfortable, and she’s careful to grab the hand rail as she navigates steps. Yet despite those cautions, the 77-year-old Manchester woman is among …
When Basdeo Somaipersaud turned up dead in his favorite park in New York City in 1998, his family assumed he must have cracked his head during one of his drinking binges. Then the autopsy came back with a curious result: …
Ratings agency A.M. Best Co. reported that its ratings of Liberty Mutual Insurance Companies in Boston and and its subsidiaries along with those of The Ohio Casualty Corp. of Fairfield, Ohio. remain unchanged following the announcement that Liberty Mutual Group, …
Swiss Re reported first quarter net earnings of CHF 1.3 billion ($1.093 billion), an increase of 54 percent over the prior year’s first quarter, “based,” the Company said, “on continuing good performance across all business segments.” Earnings per share rose …
“Climate change will grow in importance for risk managers as the fight against global warming intensifies following the latest report of the Intergovernmental Panel on Climate Change (IPCC),” according to Marie-Gemma Dequae, president of the Federation of European Risk Management …
A.M. Best Co. has affirmed the financial strength rating of “A+” (Superior) and the issuer credit rating of “aa-” of Hong Kong-based HSBC Insurance (Asia) Limited with a stable outlook. “The ratings of HSBC Insurance reflect its consistently profitable underwriting …
Germany’s Allianz Group increased its profitability in the first quarter of 2007, posting an operating profit of €2.87 billion ($3.897 billion) a 7.2 percent gain over the €2.677 billion ($3.635 billion) earned in Q1 2006. Total revenues for the period …