Articles by Ben Berkowitz

Boston Marathon Bomb Victims May Turn to BAA Insurance, Central Fund for Compensation

Victims of the Boston Marathon bombings will eventually win some kind of compensation, but it is far too early to know how much money there will be, whether private donors or insurers will provide most of it, and how long …

AIG Decides Not to Join Bailout Lawsuit Against Government

The board of American International Group Inc. decided on Wednesday not to join a lawsuit against the U.S. government over the terms of the company’s bailout, following two days of fevered backlash from Congress and the public over the prospect. …

AIG Board Meets on Possible Bailout Lawsuit vs. Government

The board of American International Group Inc. met on Wednesday to consider a lawsuit against the U.S. government over the terms of the company’s bailout, a discussion directors defended as their responsibility but one that critics condemned as the height …

Post-Sandy Snowstorm Causes New Damage, Complicates Business Insurance

Businesses in New York and New Jersey that were preparing insurance claims for losses from Superstorm Sandy now have a second headache: how to deal with new losses from an early winter snow storm. The snow and wind from the …

Hurricane Sandy Losses Expected to Top Irene’s

Hurricane Sandy appears to have easily caused more losses than last year’s Hurricane Irene, but final totals will be hard to come by for some time because of the scale of the disaster, catastrophe forecasting companies said on Tuesday. Sandy …

Insurers Prepare for Hurricane Sandy

Insurers say they are making the usual preparations for a hurricane – activating claims teams, staging adjusters near the locations most likely to be affected and generally getting ready to pay for a potentially huge volume of losses. “We plan …

Hurricane Sandy Could Cause More Damage Than Irene: Experts

As Hurricane Sandy makes its way toward the eastern seaboard of the United States, disaster experts and meteorologists warn that the mid-Atlantic and Northeastern states face dangerous winds and heavy rains that could trigger flooding in the coming days. Some …

Early Isaac Losses at $1.5B: Eqecat

Hurricane Isaac has caused up to $1 billion in economic losses for offshore energy properties and up to $1.5 billion in insured losses onshore in Louisiana and neighboring states, disaster modeler Eqecat said on Wednesday. While the estimates are early …

Berkshire Hathaway Profit Falls on Derivative Losses

Warren Buffett’s ice-cream-to-insurance conglomerate Berkshire Hathaway reported a smaller profit for the second quarter on Friday as losses on derivatives dragged down results, though operating income set the new records Buffett predicted. Buffett eschews derivatives for the most part, but …

New York City at Greatest Financial Risk from Hurricanes: CoreLogic

When people think of hurricane damage they usually think of Miami or New Orleans, but a new report suggests the greatest financial risk of all may be much farther north: the greater New York City area. Data analysis firm CoreLogic …