A group of mainly European retailers has finalized a plan to conduct coordinated inspections of factories in Bangladesh in an attempt to prevent a repeat of the Rana Plaza disaster that killed 1,129 people in April. The collapse of Rana …
Swiss Re has estimated that its claims burden from recent flooding in central and Eastern Europe is approximately $300 million, net of retrocession and before tax. Industry-wide insured losses are estimated to be between $3.5 and $4.5 billion. The flooding …
Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has launched a scenario model following the recent floods in the Canadian province of Alberta. The bulletin said the model uses “event footprints that outline the extent of …
Ping An Insurance Group Co., China’s second-largest life insurer, agreed to buy the Lloyd’s of London building from a Commerz Real AG-managed fund, two people with knowledge of the transaction said. A Chinese insurer is purchasing the home of the …
Swiss insurers are scrambling to defend themselves against possible investigations into billions of dollars of untaxed assets held by their American clients. As Switzerland continues to seek a data-transfer deal with the United States to protect banks accused of helping …
On July 3, Richard Ward, chief executive officer of Lloyd’s, announced his intention to resign at the end this year. “This has not been an easy decision to make but, as Lloyd’s longest-serving CEO, I believe it is now right …
At least five people died and 40 were missing on Sunday after a runaway train carrying crude oil derailed and exploded in the center of a small Canadian town in a disaster that raised fresh questions about shipping oil by …
The world suffered unprecedented climate extremes in the decade to 2010, from heatwaves in Europe and droughts in Australia to floods in Pakistan, against a backdrop of global warming, a United Nations report said on Wednesday. Every year of the …
Markel International Limited has appointed Esther Tun as a senior claims adjuster. Tun joins Markel International following earlier appointments as a professional lines claims adjuster at Aspen Insurance UK Limited and at QBE Insurance (Europe) Limited. Reporting to claims manager, …
What are elderly parents to do when their children no longer bother to visit? In China, there’s a new answer: sue the kids. That’s what 77-year-old “Granny Chu,” of Wuxi, China, did in April. On Monday, a court heard her …
