Natural and man-made catastrophes triggered total economic losses of around $40 billion and cost property insurers worldwide $15 billion in 2006, according to preliminary estimates from Swiss Re. In all, an estimated 30,000 people lost their lives in catastrophes as …
A State Farm Insurance Co. executive says the company is no longer offering wind coverage for new customers in Mississippi’s six southernmost counties and is reviewing whether to continue extending the coverage on renewals. Because the base hurricane deductible is …
A freak tornado struck a section of northwest London on Thursday morning, Dec. 7, tearing the roofs off and causing other damage to as many as 150 homes, wrecking a number of cars and leaving six people injured. Fortunately there …
The Hartford Financial Services Group has purchased $247.5 million in multi-year, collateralized reinsurance from Foundation Re II Ltd., a special purpose reinsurance company – commonly known as a “sidecar” – incorporated in the Cayman Islands. “Foundation Re II financed the …
Gov. Mike Easley asked the Small Business Administration for a disaster declaration for Columbus County, N.C., to help pay for repairs and other expenses related to damages resulting from the severe weather that battered the state on November 16. If …
Incoming mail service has resumed at the Alabama Department of Insurance, following a disruption due to a tornado that struck the main U.S. Postal Service facility in Montgomery on Nov. 15. Department officials encourage those who may have mailed items …
Thunderstorms that tore up homes and buildings across the South hit North Carolina early Thursday, killing at least three people and leaving thousands without power. Another person died Wednesday as a tornado swept through part of Louisiana. The North Carolina …
The New Madrid fault line, the Atlantic hurricane season and tornado alley are just a few factors that weigh heavily on the minds – and regulatory decisions – of insurance regulators in the southeastern United States. If insurance commissioners in …
A federal grand jury in Jackson, Miss., has ordered a transcript from an Oklahoma case in which State Farm Insurance Co. was hit with a $13 million judgment involving a lawsuit by policyholders from a 1999 tornado. Records filed in …
State Farm has ordered an independent investigation into one of its vendors and suspended work with Haag Engineering Co. based on an Oklahoma jury’s finding that the insurance company used Haag reports to maliciously deny policyholder claims, a newspaper reports. …