US insurance groups urge renewal of flood program
08 June 2004
The innovative and highly effective National Flood Insurance Program operated by the US Government is in danger of shutting down by the end of the month…
International
Facelift for US marine clauses
08 June 2004
Revisions to the cargo clauses used by the American Institute of Marine Underwriters – the first changes since 1966 – won’t impact on Australian marine insurance…
Reinsurers to cut exposure, says report
08 June 2004
The global reinsurance market faces a challenging task next year as it seeks to maintain underwriting volumes while reducing exposure in some lines…
UK regulator bans former CEO from top jobs
08 June 2004
So you thought Australia’s industry regulators are tough… Britain’s Financial Services Authority has made headlines by banning former Equitable Life Assurance Society CEO…
Munich Re returns to profit
01 June 2004
Munich Re has reported a healthy profit of $915 million compared with a net loss of $743 million for the corresponding quarter last year…
Mould fears allayed by US scientific study
01 June 2004
The US Institute of Medicine says toxic mould in homes is not likely to cause serious health problems for most people…
UK regulator pushes insurers on customers’ warnings
01 June 2004
Britain’s financial regulator, the Financial Services Authority, will make insurers and other financial companies alert customers when their right to complain…
Marsh corners risk reduction niche
25 May 2004
The competition is getting intense at the top end of the global corporate market, with the big players adding a greater range of services to ensure they retain their clients…
CFO reveals a fascination with dancing
25 May 2004
Maybe he had a lot to celebrate after his company escaped having to pay double for the loss of the World Trade Centre Towers…
Competition lowering Asia-Pacific premiums
18 May 2004
Increasing competition between insurers in the Asia-Pacific region is pushing down rates, according to Standard & Poor’s…
ING turns a tidy profit
18 May 2004
Fresh from selling off its general insurance assets in Australia, Dutch-based ING has announced a 32% rise in first-quarter profit of $US1.4 billion…
US expects a bad bushfire season
18 May 2004
The United States expects some western states to face a severe bushfire season this northern summer as a result of drought, reduced snowfall during winter…
Silverstein vows to move ahead
11 May 2004
World Trade Centre leaseholder Larry Silverstein is licking his wounds this week, having substantially failed to win his 30-month battle with insurers for a bigger…
Most WTC claims settled
11 May 2004
Meanwhile, the New York Insurance Association says the “vast majority” of 30,000 claims filed after September 11 have been settled…
Lloyd’s moves into expanded European Community
11 May 2004
Just days after 10 new member states joined the European Union last week, Lloyd’s has been given official clearance to write direct business in them…
Silverstein loses a bit, waits on Swiss Re
04 May 2004
Most of the insurers in the protracted World Trade Centre insurance case have been found by a jury to only have to pay for the two September 11 attacks as one event…
IOC insures Olympics for $232 million
04 May 2004
The International Olympic Committee has taken out a $232 million insurance policy against the Athens Olympic Games being cancelled…
Profits continue to climb
04 May 2004
US insurers’ first-quarter results are beginning to flow in, with the first few showing the recovery has been sustained…
Brokers face conflict of interest probe
04 May 2004
New York’s Attorney-General has subpoenaed Marsh, Aon and Willis to assist in an investigation of the way they are paid commissions by insurers…
Asbestos Bill may have far-reaching side-effects
27 April 2004
An initiative by Senate Republicans designed to head off an anticipated deluge of litigation against American corporations has met with bi-partisan resistance…