Alberta Premier Alison Redford on Monday promised C$1 billion (US$956 million) in initial funding to help pay for damage caused by major flooding this past weekend, and said the oil-rich province would no longer be able to balance its operating …
Miller Insurance Services LLP, the UK-based specialist insurance and reinsurance broker, has appointed Simon Weaver as Head of Asia as of September 1, 2013 He joins Miller from JLT Asia where he was CEO of JLT Specialty Asia, responsible for …
“In some high-risk areas, ocean warming and climate change threaten the insurability of catastrophe risk,” according to one of the conclusions of a research report issued today by the Climate Risks and Insurance working group of international insurance think tank, …
Power outages in the Canadian oil capital of Calgary could last for weeks or even months, city authorities said on Sunday, as record breaking flood waters moved downstream to threaten smaller communities in southeastern Alberta. Even as officials told 65,000 …
Swiss Re Ltd., the world’s second- biggest reinsurer, plans to reduce costs and repurchase debt as it seeks to boost profitability and increase its dividend. Swiss Re expects costs savings of as much as $300 million by 2015 to help …
CEOs from the G20 Advisory Group of the International Chamber of Commerce (ICC) met in Saint Petersburg with more than 400 other business leaders and top government officials, including Russian President Vladimir Putin. The meeting was held in conjunction with …
“The recent attacks in London, Paris and the Boston marathon bombing are evidence that terrorists are resorting to simpler tactics,” said Mark Lynch, the head of Political Risk Model Development at Aon Benfield’s Impact Forecasting. “They have more opportunities and …
Flash floods triggered by torrential rain in northern India may have killed hundreds of people, a government official said, as the armed forces stepped up searches for those stranded in mountainous areas. Narrow valleys in the foothills of the Himalayas, …
Tropical Storm Barry made landfall north of Mexico’s major Gulf Coast port of Veracruz on Thursday morning and was heading inland, unleashing rain showers and wind gusts, but installations of state oil monopoly Pemex were unaffected. The storm is likely …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Bermuda-based Wind River Reinsurance Company, Ltd. and its U.S. subsidiaries. Best has also affirmed the ICR of “bbb” of …
