PDA Extends Appraisal Services to Financial Sector Property Damage Appraisers (PDA) is spreading the word about one of its core business practices that many may not know about – financial services. PDA’s appraisal services are ideal for banks, credit unions …
American International Group Inc., the insurer stung by losses on higher-than-expected claims costs, said Swiss Re AG has agreed to take on some of the company’s risks tied to casualty policies. The two-year reinsurance deal will help AIG be more …
The Midwest’s New Madrid seismic zone is often eclipsed by San Andreas fault because of its less glamorous location and lower level of seismic activity, but our research indicates it’s a potentially crippling economic threat that warrants serious consideration. The …
A new report from Swiss Re highlights new and emerging risks the reinsurance industry expects to face over the next years. The publication is based on the SONAR process, a crowdsourcing tool to identify and evaluate new threats. The report …
Swiss Re AG, Europe’s second-biggest reinsurer, said regulators should prevent catastrophe bonds from being repackaged like subprime mortgages. “It’s important for traditional players like us and regulators that we make sure we don’t get into a situation where you start …
Electronic cigarettes could trigger liability claims similar to tobacco litigation lawsuits in the past if they prove to be more damaging to health than now understood, according to a report by Swiss Re Ltd. Another risk is that e-cigarettes may …
Natural catastrophes are growing more costly and uninsured losses are increasing, according to David Cole, chief risk officer of Swiss Re Ltd. “When they happen, they are more severe,” he said today at a presentation in Zurich. More losses occur …
Natural catastrophes and man-made disasters caused $186 billion in economic losses globally in 2012 and took approximately 14,000 lives, according to global insurer Swiss Re’s latest sigma study. The United States bore the brunt, about $119 billion, of that total …
The insurance industry looks set to absorb about $65 billion in catastrophe claims this year, down from a near-record $120 billion in 2011, reinsurer Swiss Re said. Weather-related disasters in the United States accounted for the bulk of the total, …