North Carolina Property Insurance Reform Law Comes Up Short July 24, 2012 By Michael Adams North Carolina’s property market problems are well known but thus far answers remain elusive even after lawmakers approved a bill...
Catlin Appoints McMellin to Succeed Banas as U.S. CEO July 24, 2012 The Bermuda-based Catlin Group Limited announced that Andrew McMellin, currently the group’s deputy chief underwriting officer, will become CEO of...
Walnut Place Drops Objections to $8.5 Billion BofA Deal; AIG Still Questions July 24, 2012 By Karen Freifeld Walnut Place, an entity that had challenged a proposed $8.5 billion settlement between Bank of America Corp. and investors in...
Crop Insurance Helps Farmers Now More Than in 1988 Drought July 24, 2012 By Christine Stebbins U.S. crops are taking a beating in the worst drought since 1988 but most farmers are not sweating like they...
Fairfax’s Watsa Raises Stake in BlackBerry Maker RIM to Nearly 10% July 24, 2012 Canadian investor Prem Watsa, dubbed the “Warren Buffett of the North,” has nearly doubled his company’s stake in embattled BlackBerry...
China Drafts Rules for Insurers to Raise Private Equity Stakes; Trade Derivatives July 24, 2012 By Clare Baldwin and Samuel Shen China plans to double the amount insurers can invest in private equity and allow them to trade financial derivatives both...
Japan’s All Nippon Airways Grounds Dreamliners, Citing Engine Corrosion Risk July 24, 2012 By Rhys Jones and Yoko Kubota Japan’s All Nippon Airways said on Monday it grounded part of its fleet of 787 Dreamliners after tests revealed a...
AIR Analyzes Fallout from Heaviest Rainfall to Hit Beijing since 1951 July 24, 2012 According to catastrophe modeling firm AIR Worldwide, on Saturday, July 21, a heavy storm in China delivered as much as...
UK’s Pioneer Underwriting to Launch Professional Indemnity Team July 24, 2012 Pioneer Underwriting, which conducts business in partnership with Liberty Syndicates, has launched a new specialty unit, Pioneer PI that will...
AIR Expands Suite of Catastrophe Models for Australia July 24, 2012 Catastrophe risk modeling firm AIR Worldwide announced the expansion of its suite of catastrophe models for Australia “with the release...