Hurricane season is back in the US
23 May 2006
Businesses and homeowners on the US Gulf Coast are underinsured against floods and hurricanes, the New York-based Insurance Information Institute says…
International
Axa life insurance sued
23 May 2006
A life insurance division of Axa, Axa Equitable Life Insurance, has been sued following claims the company classified all juveniles as smokers and charged higher life insurance rates…
AIG looks to European SMEs
16 May 2006
American International Group is looking to expand its presence in Europe, and it hasn’t ruled out acquisition as a strategy…
Profit up for international insurers
16 May 2006
Reinsurers Munich Re and Hannover Re have revealed big first-quarter results, with Munich Re’s profit rising by 41.7% from last year and Hannover Re profit by 38.6%…
UK asbestos ruling cuts payout
16 May 2006
Sufferers of the asbestos-caused cancer mesothelioma face a huge cut in compensation following a decision by Britain’s highest court on May 3…
NAIC compact begins soon
16 May 2006
The launch of the National Association of Insurance Commissioners Interstate Insurance Product Regulation Compact is expected to become a reality once Alaska and Ohio…
Liberty to face court
09 May 2006
Boston-based insurer Liberty Mutual is vowing to fight charges that it has been involved in kickbacks and overpriced policies…
UK brokers’ methods under scrutiny
09 May 2006
British brokers’ handling of their clients’ money is about to be closely examined by the Financial Services Authority…
Hurricanes don’t worry Buffett
09 May 2006
US business guru Warren Buffett, whose Berkshire Hathaway investment company owns two major reinsurers, says he still has plenty of appetite for catastrophe reinsurance…
Aon restructures its restructure
09 May 2006
Aon Corporation has rejigged the cost estimates for its corporate restructure, saying it will spend an additional $US30 million ($39 million) on the strategy…
Ace settles with regulators
02 May 2006
Bermuda-based global insurer Ace has settled a bid-rigging investigation by the US states of New York, Illinois and Connecticut for $US80 million ($105 million) in restitution…
Net income rise for Chubb
02 May 2006
US-based insurer Chubb has reported a rise in net income from $US470 million ($620 million) to $US672 million ($887 million) for the first quarter of this year…
Aon plots terrorism risk
02 May 2006
The overall threat of terrorism has not changed in the past year but it has moved around a little, according to global insurance giant Aon…
Doomsday hurricane scenario
02 May 2006
The US may be facing a steady terrorism risk but it could need to prepare for even bigger storms on its coast around the Gulf of Mexico…
Swiss Re wins buyer approval
02 May 2006
Swiss Re has gained permission from the European Commission to buy US-based GE Insurance Solutions for $US7.5 billion ($9.87 billion)…
We’ve grown up: Marsh
26 April 2006
Marsh & McLennan CEO and President Mike Cherkasky says insurers and governments should be planning for global warming and the risks associated with it…
US insurers weather the storm… for now
26 April 2006
Sound risk management and strong investment results enabled US general insurers to weather record catastrophe losses last year…
Slight dip for US rates
26 April 2006
Commercial property/casualty rates in the US were flat or fell slightly during the first quarter of this year, according to an industry survey…
Conference marks centenary of the Big One
19 April 2006
The global insurance industry has gathered in San Francisco to take part in the 100th Anniversary Earthquake Conference – the largest earthquake conference ever held…
Insurers quit cover over New York hurricane warning
19 April 2006
A major US insurer has responded to expert advice that a hurricane could strike New York by declining to renew cover for thousands of homeowners in the most exposed…