An earthquake in China and two in Iran dominated global catastrophes in April. Additional earthquakes were recorded in Japan, Afghanistan and Hungary during the month. Parts of the U.S. suffered severe hail and flooding damage during April, although there were …
As victims of Superstorm Sandy pick up the pieces of their lives and insurers wade through thousands of claims, industry and public officials are raising concerns about fraud. Since the storm, the National Insurance Crime Bureau (NICB) has issued two …
The day after Hurricane Irene hit, global recovery firm ServiceMaster’s call center averaged 1,100 calls a day but despite the heavy call load, the company was able to respond in a timely fashion—always important with water damage —thanks to a …
The tornado that devastated Joplin in May is expected to cost insurance companies about $2.2 billion. Property Claims Services, which determines insurance payouts for catastrophes, said Tuesday that figure includes payouts already made and projected payouts for the May 22 …
Swiss Re’s latest sigma study – “State involvement in private insurance” – examines the increasing symbiosis between governments and the private insurance sector. The report notes that “more and more governments are leveraging private insurance skills and the growing capacity …
The Florida reinsurance renewals on June 1, 2011, experienced a wide range of outcomes, as substantial catastrophe losses combined with two major catastrophe model revisions over the past 16 months led to a volatile renewal season, according to reinsurance specialist …