insured loss News

Montana Court Orders Man to Pay Restitution, Even for Insured Loss

The Montana Supreme Court says a man who was convicted of stealing $26,500 in cash and merchandise from his employer must pay full restitution, even if the store’s losses were mostly covered by insurance. John Creswell Dovey appealed District Judge …

Average to Below-Average Wildfire Season Expected for Colorado

Firefighters said Tuesday they expect another average or below-average wildfire season in Colorado in 2016, the third mild year in a row. “That’s always good news,” Gov. John Hickenlooper said after announcing the outlook. But even an average year can …

Northwest Harvest Food Banks Win in Potato Loss

Washington food banks are benefiting from a business accident involving 46,000 pounds of dehydrated mashed potatoes. After the container filled with the dehydrated potatoes fell off a truck last week on their way to Seattle for shipment to Japan, the …

Cancelling London Olympics Would Cost over $4.9 Billion: Munich Re

Cancelling the London Olympics due, for example, to a security threat would result in damages of more than €4 billion ($4.9 billion), Andrew Duxbury, underwriting manager at Munich Re, told a German newspaper. “This was the sum of the insurable …

AIR’s Japan Quake/Tsunami Insured Loss Estimates: $15 Billion to $35 Billion

Boston-based catastrophe modeling firm AIR Worldwide’s most recent statement, based on “currently available information, estimates that insured property losses from the Mw9.1 earthquake that struck Japan on Friday will range between 1.2 trillion JPY to 2.8 trillion JPY. Using today’s …