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Most frequently stolen Ford Mustangs
To date, nearly 8.5 million Mustangs have been sold in the United States, but more than 600,000 of those have been stolen
Category: International Insurance
MetLife to buy Eastern European insurance and pension business from Aviva by end of the year
Metlife plans to buy Aviva’s life insurance businesses in the Czech Republic and Hungary, and its life insurance and pension businesses in Romania
Kingsway announces reverse stock split to remain compliant with NYSE
Under NYSE listing standards, the closing price of a stock cannot be under USD $1 for more than 30 consecutive trading days
Lloyd’s syndicate introduces defence cost coverage for directors
Navigators, a Lloyd’s syndicate, has launched a first-of-its-kind Directors and Officers (D&O) product to protect corporate directors for defence costs
Willis bloggers identify top 18 emerging risks for 2012
WillisWire examines “a new set of thorny problems that may be keeping risk managers up at night”
Hannover Re estimates multi-million dollar losses for wrecked Costa Concordia
“The loss expenditure from marine hull insurance will be in the region of EUR 30 million (CAD $39 million) for the company’s net account,” said reinsurer
Michel M. Liès named as new Group CEO of Swiss Re
Moses Ojeisekhoba appointed as new CEO Reinsurance Asia and Regional President
Fairfax purchases 25 percent stake in Thai reinsurer
As part of the USD $70 million purchase, Fairfax will have the right to nominate two members to the Board of Directors of Thai Re and will also assist Thai Re with its investment portfolio
Maritime disasters throughout history
The capsizing of the Costa Concordia on January 13, 2012 has been the focus of many this week. At least 11 of the 4,200 passengers have been confirmed dead and loss estimates are hovering around between $500 million and $1 billion. The wreckage of this ship off the coast of Italy is the newest in [...]
Three areas of concern for the global insurance industry in 2012
The Geneva Association says financial stability, governmental management of natural catastrophe risk and demographics and old age society are three areas of interest for the global insurance industry this year
Risk spread between several insurance firms; too early to say if passengers are avoiding trips
The capsizing of the Concordia in the waters off Italy comes at the start of a three-month period that is the busiest time of year for bookings, known in the industry as wave season
Insurers can profit in tough economy by focusing on growth, excellence and innovation
Deloitte report says ongoing global economic challenges will make it difficult for insurers to generate growth and profits over the short- and long-term, but growth is possible
Hard market several years away, says A.M. Best SVP
By ILSTV Staff on Jan 19, 2012 in International Insurance
“Premium growth will continue to improve from where we were in the last three or four years, but I don’t expect in 2012 that we’ll see a massive increase in premium,” said Matt Mosher, A.M. Best Co.’s senior vice president of global ratings
World underinsured against earthquake risk
Earthquake insurance penetration is highest in New Zealand, and is very low in Japan, particularly for commercial properties
Carnival reports it self-insures for loss of use of sunken Costa Concordia vessel
Company reports it has insurance coverage for damage to the vessel with a deductible of approximately $30 million, additional deductible of $10 million for third-party personal injury liability but self-insured for loss of use
Cruise ship sinks off western coast of Italy
Sources say ship, which cost EURO 450 million to build in 2006, will be a total loss
Insurance brokerage Aon to move corporate headquarters from Chicago to London
By The Canadian Press on Jan 16, 2012 in International Insurance
Chicago will remain its headquarters for the Americas and the move won’t result in job loss in Chicago or the United States
Google fined for bad autocomplete suggestion on French insurance company
Search engine fined $65,000 after its autocomplete suggested “crook” or “scammer” after company name
Allstate to offer satisfaction guarantee for U.S. auto insurance customers
If an eligible customer is not happy, for any reason, with the service they receive on a paid auto claim, Allstate will provide a credit to the customer’s auto policy
