United States of America (USA)
Hurricane Alex makes landfall on Texas-Mexico border
Hurricane Alex drenched the Texas-Mexico border in the early hours on Thursday as the powerful storm slammed into Mexico's Gulf coast, spawning tornadoes and flooding towns, but sparing US oil wells.
House passes financial reform bill
The US House of Representatives approved a landmark overhaul of financial regulations on Wednesday but the Senate put off action until mid-July, delaying a final victory for President Barack Obama.
Climate change - Governance: Running hot and cold
Risk managers have been gearing up for the impact of climate change, but one area of uncertainty remains. Lindene Patton takes a look at the political and regulatory factors.
Technology - Underwriting: Shifting focus
Insurers are upping the pace at which they investigate underwriting IT options and, over the past six months, there has been a substantial jump in the number of carriers looking to engage software houses with projects in this area, says Edward Murray
Ex-AIG's Cassano defends no-losses proclamation
The former head of the AIG unit that led to a $182bn bailout pledge from taxpayers stood by a 2007 proclamation that the insurer would not lose even a dollar on a portfolio of securities that included subprime mortgages.
40% chance of storm passing Gulf spill by end of August: RMS
RMS suggested there is just over a 15% chance that a tropical storm or hurricane will pass within 100 miles of the Macondo oil well before the end of July, rising to more than 40% by the end of August, requiring precautionary evacuation of the…
Alex becomes a hurricane
Alex has intensified to become the first hurricane of the 2010 season, making it the first June hurricane in the Atlantic since 1995. Hurricane forecast to hit Texis/Mexico border on Thursday.
Non-life weathers storm
In the UK non-life premiums fell 3.1% to $92bn (£61bn) in 2009 (which ranked it fourth behind the US, Japan and Germany) out of a total of $309bn (which ranked the UK third behind the US and Japan), and that insurance penetration was 12.9%, according to…
Alex to strengthen as hurricane watches issued for Texas and Mexico
Tropical Storm Alex, the first named system of this year’s Atlantic hurricane season, strengthened as it forced the evacuation of some offshore rigs and pushed swells toward a slick left by the Deepwater Horizon spill.
Neal bill opponents respond to “inaccurate and misleading” Berkley statements
A coalition of trade experts, consumer advocates, insurance industry leaders and state officials have protested “inaccurate and misleading” statements made by William Berkley, of WR Berkley, most recently, regarding an online video opposing controversial…
Swiss Re: global non-life premium dips 0.1% in 2009 to $1 735bn
According to Swiss Re’s latest “World insurance in 2009” sigma study, world insurance premium volume fell 1.1% on an inflation-adjusted basis.
Hiscox to cut Lloyd's capacity by £100m in 2011
Hiscox has published a summary of its initial 2011 business forecast for Syndicate 33. A full 2011 business forecast for Syndicate 33 will be submitted to Lloyd's by 9 July.
Swiss Re: global non-life premium dips 0.1% in 2009 to $1 735bn
According to Swiss Re’s latest “World insurance in 2009” sigma study, world insurance premium volume fell 1.1% on an inflation-adjusted basis.
US Congress passes financial reforms
On Friday, after a marathon 20-hour debate, the US Congress passed an amended version of the Dodd-Frank Bill which includes measures to prevent more AIG-style bailouts and a federal insurance regulator.
Alex regains tropical storm strength in Gulf
Tropical depression Alex picked up speed over the Gulf of Mexico on Sunday, regaining tropical storm strength, and keeping two key Mexican oil ports closed.
Cat bond prices fall
Catastrophe bonds have seen their sharpest slump since 2008 as forecasters predict a busier-than-usual Atlantic hurricane season.
Bill Hodson appointed senior VP of GossRe
Goss Reinsurance Brokers, the recently launched reinsurance brokerage division of US Risk Insurance Group, has announced the appointment of William Hodson to senior vice president.
Credit Suisse tips RGA or Munich Re for Aegon unit buy
Munich Re and RGA have been named as potential buyers of Dutch insurer Aegon's Transamerica Reinsurance unit, Credit Suisse analysts said on Wednesday.
US increases terror cover take-up
US terrorism insurance take-up rates continued to climb in 2009 across all industries, according to Marsh.
Levene laments 2010, the year of "direct hits"
The chairman of Lloyd’s has described 2010 as the year of “direct hits”.
Levene laments 2010, the year of "direct hits"
The chairman of Lloyd’s has described 2010 as the year of “direct hits”.
Reduced US collateral requirements to benefit reinsurers – Moody’s
While most counterparty security procedures are getting stricter, global reinsurers are poised to benefit from reduced collateral requirements, which will be credit positive for their bondholders, according to the ratings agency.
First hurricane of 2010 season forms
Hurricane Celia, the first hurricane of the 2010 Pacific season, formed in the eastern Pacific Ocean near Mexico on Sunday but headed away from land, the US National Hurricane Center said.
XL Re becomes first Bermudan reinsurer to qualify as eligible in Florida
XL Re, the global reinsurance operations of XL Capital has announced that it has received approval from the Florida Office of Insurance Regulation (FIR) to qualify as an “Eligible Reinsurer” in Florida, pursuant to requirements set forth by the Florida…