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Air Algerie-operated Plane with 116 People Aboard Disappears en Route to Algiers

An Air Algerie-operated MD-83 carrying 116 passengers and crew disappeared en route from Burkina Faso in Africa to Algiers, the aircraft´s owner said. The plane, which took off in the West African country shortly after midnight, was supposed to land …

AIG Identified As Lead Insurer in Taiwan Plane Crash

American International Group Inc. is the lead insurer of the TransAsia Airways Corp. passenger plane that crashed near Taiwan’s Magong airport, according to Aon Plc, a broker that tracks the market for aviation coverage. The ATR-72 plane is valued at …

Everest Re Posts $290.2 Million Q2 Net Income; $584.1 Million Half Year

Everest Re Group reported second quarter 2014 net income of $290.2 million, or $6.26 per diluted common share, compared to net income of $275.6 million, or $5.56 per diluted common share, for the second quarter of 2013. After-tax operating income, …

Airline War Risk Insurance Expected to Rise Due to Global Conflicts

Insurers are expected to hike war risk premiums for airlines following losses due to global conflicts, including the downing of a Malaysia airplane over Ukraine, insurance rating agency A.M. Best Company said on Wednesday. The insurance settlement of the Malaysian …

Allied World Reports $151.9 Million Q2 Net Income

Allied World Assurance Company Holdings, AG reported net income of $151.9 million, or $1.52 per diluted share, for the second quarter of 2014 compared to a net loss of $1.9 million, or $0.02 per diluted share, for the second quarter …

Best Comments on Insurance Implications of Malaysia Airlines Flight MH-17 Crash

A.M. Best has released a preliminary report, which indicates that the “total insurance loss of Malaysia Airlines Flight MH-17, which crashed over the Ukraine-Russia border on July 17, 2014, is not expected to result in any ratings actions.” Best’s Briefing entitled, “The …

Typhoon Matmo Spares Taiwan from Major Damage; Moves to China: AIR Analysis

According to catastrophe modeling firm AIR Worldwide, Typhoon Matmo, the third typhoon in the western Pacific Basin in less than three weeks, “made landfall in Taiwan around midnight, local time, Tuesday night with winds over 160 km/h [100 mph] and …

TransAsia Air Crash off Taiwan Leaves 48 Dead, 10 Injured

Forty-eight people are dead and 10 injured after a TransAsia Airways Corp. passenger plane crashed as it prepared to land on Taiwan’s outlying Penghu Islands. Flight GE222, a twin-engine ATR-72 turboprop, was making a second approach to Magong Airport when …

Emig Joins IFG Companies’ Property Unit in Atlanta Office

James E. Emig has joined IFG Companies as director of its Bind Property unit, where he will be responsible for property and package business across the United States. Emig will be based in IFG’s Atlanta office. He joins IFG Companies after …

Insurers Overemphasizing Digital Service Risk Alienating Customers: Bain

Global top performers in the high-churn personal insurance industry win over customers with consistent outreach that relies on multiple channels for customers to connect including phone, internet or face-to-face.  However, insurers that overemphasize digital channels at the expense of traditional …

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