Cities in the U.S. and Canada stand to lose $92.96 billion per year to risks like market crash, cyber attack and flood, an index from Lloyd’s released today shows. Lloyd’s newly issued City Risk Index, which produces estimates of how …
World trade will grow by a mere 2.5 percent this year, dragged down by Europe to less than half of the previous 20-year average, the World Trade Organization (WTO) said on Friday. The WTO cut its estimate from a 2012 …
XL’s CEO Mike McGavick doesn’t mince words when it comes to looking at the big, and not very pretty, picture of the state of the re/insurance industry. Address emerging risks, innovate, create new products and provide potential insurance buyers with …
The euro zone debt crisis was born in Greece. Nearly three years and two bailouts on Europe must decide whether to give the country yet more help or cut it loose. For all its complexities, Greece’s problems essentially come down …
The euro zone economy narrowly skirted recession in the first half of the year, but austerity programs across the region and a debt crisis weighing ever more heavily on its periphery suggest the reprieve will be short-lived. Gross domestic product …
Japan’s government expects last month’s earthquake and tsunami to cost up to $300 billion in material damage, but the ultimate cost will be far higher. Tokyo Electric Power Co (TEPCO), operator of the crippled Fukushima nuclear power plant, could leave …
Quake-hit Japan faces a recovery and reconstruction bill of at least $180 billion, or 3 percent of its annual economic output and more than 50 percent higher than the total cost of 1995’s earthquake in Kobe. Even though some extreme …
