The Federal Emergency Management Agency has OK’d a plan to boost aid to New Jersey towns hit hard by Superstorm Sandy. U.S. Rep. Chris Smith, who represents Monmouth and Ocean Counties, says FEMA will reimburse communities at a rate of …
Maurice “Hank” Greenberg can continue his $25 billion lawsuit against the U.S. over losses from the bailout of his former company, American International Group Inc., without making claims on behalf of the insurer, a judge ruled. Greenberg and other minority …
Global banks will have to vet all customers for terrorism links as part of a crackdown on money laundering and criminal finance. Terrorist screening “should be carried out irrespective of the risk profile attributed to the customer,” the Basel Committee …
Companies operating major crude oil pipelines in Canada will be required to have C$1 billion ($954.97 million) available to fund clean ups from any spills, the Canadian government said on Wednesday. Joe Oliver, Canada’s minister of natural resources, also announced …
Catastrophe risk modeling firm AIR Worldwide (AIR) has released a Pandemic Flu Model, which it says captures the excess morbidity, mortality, and insurance losses caused by pandemic influenza. AIR said the model includes more than 18,000 simulated events, ranging in …
Gap Inc. and Wal-Mart Stores Inc. are among U.S. retailers finalizing an agreement to establish a $50 million, five-year fund to improve safety conditions in Bangladesh garment factories, the Wall Street Journal reported, citing a person familiar with the matter. …
Williams Cos., the owner of a Louisiana chemical plant that remains shut after a fatal explosion, said insurance will cover most of the loss. An explosion June 13 at Williams Partners LP’s Geismar plant killed two people and caused an …
Hartford Financial Services Group Inc. agreed to sell its U.K. variable-annuity business to Berkshire Hathaway Inc. for about $285 million in cash. Hartford Life International Ltd., which was sold to Berkshire’s Columbia Insurance Co. unit, had $1.75 billion in assets …
Rolls-Royce Plc repeatedly failed to identify a defect that caused one of its engines to explode on a Qantas Airways Ltd aircraft carrying more than 400 people over Indonesia three years ago, an Australian safety regulator found. In its final …
A U.S. Supreme Court ruling on Wednesday forcing the federal government to recognize same-sex marriage in states where it is legal will open up new benefits to thousands of gay couples, but confusion may reign in states that do not …
