A federal judge has authorized a class-action lawsuit against a Wyoming soda ash company over alleged cuts in workers’ pension benefits. U.S. Judge Alan Johnson of Cheyenne in February authorized the class-action lawsuit against Solvay Chemicals, Inc., one of southwest …
Swiss Re’s latest sigma study on natural catastrophes and man-made disasters in 2007 concludes that they killed over 20,000 people and cost the insurance industry $70 billion, $28 billion related to property claims. 2007 wasn’t even “an exceptional year” in …
A computer hacker stole thousands of credit card numbers after breaching security at two U.S. grocery store chains owned by Belgium-based Delhaize Group SA , the companies said Monday. Nearly 2,000 cases of fraud have been linked to the breach, …
Swiss Re’s latest sigma study – “Natural Catastrophes and man-made disasters in 2007” – examines catastrophe-related economic losses from natural and man-made disasters last year, which exceeded $70 billion. Swiss Re also noted that the disasters caused the deaths of …
AIR Worldwide’s preliminary estimates of onshore wind losses for Windstorm Emma are between €750 million and €1.3 billion ($1.15 and $2 billion), significantly higher than the insured loss estimates released by RMS (See IJ web site – https://www.insurancejournal.com/news/international/2008/03/05/87951.htm). Damages in …
Boston-based AIR Worldwide is assessing the damages caused by windstorm Emma, which swept across Western and Southern Germany, as well as Austria and the Czech Republic on Saturday, March 1. No damage estimates have yet been made. The storm’s hurricane …
Risk Management Solutions (RMS) announced the launch of “the first parametric index for assessing insured industry losses from windstorms in Europe.” The new model -” Paradex Europe Windstorm” – combines “wind speed measurements in specific locations with industry exposure data, …
Zurich Financial Services Group announced that it will expand its services for corporate customers in Norway and Denmark through the establishment of two new branches of Zurich Insurance Ireland Limited (ZIIL), its principal subsidiary for the European Union. ZIIL, which …
The Baloise Group and Gothaer Versicherungsbank VVaG are negotiating about a strategic partnership and a merger of their German insurance activities. A letter of intent has been signed, the companeis said. Both companies are currently conducting due diligence. The outcome …
A major Chinese insurer has announced plans to raise up to $22 billion (euro15.0 billion) for acquisitions at a time when U.S. and European banks, battered by mortgage losses, want infusions of Asian capital to replenish their balance sheets. Ping …
