New Zealand’s government said Thursday that it will offer to pay thousands of homeowners to leave areas of the country’s second-largest city that were hardest hit by recent earthquakes. Christchurch was struck by a magnitude-7.1 earthquake in September and a …
Big aftershocks are still shaking the earthquake-weary city of Christchurch, New Zealand, and raising fears of worse to come. A pair of aftershocks woke many residents about 6:30 a.m. Wednesday, with the larger measuring magnitude-5.0. A smaller cluster hit in …
Devastating tornadoes, floods, earthquakes overseas and a busier-than-usual hurricane season have U.S. insurance companies bracing for record losses in 2011. Insurers could suffer as much as $10 billion from weather-related losses in the United States in 2011, which is up …
New Zealand’s government has agreed to provide financial support for AMI, the country’s second-largest residential insurer, after two major earthquakes threatened to deplete its capital, Finance Minister Bill English said on Thursday. English said the potential cost for the government …
Specialist insurer Amlin plc has released initial estimates of the impact of the 2011 New Zealand earthquake, the Japanese earthquake and the 2011 Queensland floods. The bulletin described the 2011 New Zealand earthquake as a “major catastrophe with market loss …