River forecasters for the National Weather Service underestimated the flood level that a major river would reach during Nashville’s fatal May floods because they relied on inaccurate data from the U.S. Army Corps of Engineers, the service said in a …
U.S. property insurers like Travelers Cos. Inc. and Chubb Corp. were expecting a relatively mild fourth quarter for catastrophe losses, but a series of punishing storms across the country in December may have blown away those estimates. Floods in Southern …
A judge has granted class-action status to plaintiffs suing the Beacon Mutual Insurance Co. for inequitably distributing $101 million in dividends among policy holders. Judge Michael Silverstein said in his ruling that Beacon Mutual “engaged in a systematic scheme to …
Malaysia’s navy was holding seven Somali pirates Saturday who were apprehended in the second dramatic commando raid within hours on ships seized near the African coast, authorities said. The operations gave both Malaysia and South Korea dramatic successes in the …
A vast lake created by floodwaters will spread across southeastern Australia and threaten rural towns in its path for up to 10 more days, an official said Saturday as the nation’s flood crisis continued to create havoc and destruction. The …
A new report from Zurich Financial Services notes that in contrast to the “bulk of risks faced by the corporate sector,” which are more or less “easily identified,” and can thus be dealt with, “there is a class of risks …
Assurex Global, the worldwide broker network, announced that it has added two new firms to the network: Continental Insurance Brokers Limited (CIB), with headquarters in Beijing, China, and Daewoo INS Korea Corp. in Seoul, South Korea. “We continue to expand …
The Connelly, Carlisle, Fields & Nichols insurance brokerage firm, a member of the Aliant Insurance Group, began operations this month at its corporate headquarters in Clearwater, Florida. The new firm comes after the split of long-term partners John Connelly and …
Investors looking to pin blame on auditors for failing to flag risks ahead of the credit crisis are having a hard time getting their cases to stick. All of the “Big Four” auditors have been sued by investors who collectively …
