ICC Says Impact of Counterfeiting/Piracy to Reach $1.7 trillion by 2015
A new report released from its Paris headquarters by the International Chamber of Commerce (ICC) indicates that the global economic and social impacts of counterfeiting and piracy will reach US$1.7...
View ArticleLloyd’s Market Association Questions Aspects of FSA Regulatory Reform
In a response to the proposals to restructure the UK’s financial regulations the Lloyd’s Market Association (LMA) has taken issue with some of the proposals, which, in its view are “over-engineered”...
View ArticleWho Is Paying News Corp. Legal Bills? – D&O Coverage Heavily Involved
With executives from News Corp. and some of its subsidiaries heading for the exits, legal bills from the phone-hacking scandal rocking the company are no doubt stacking up. But depending on the...
View ArticleUK’s ABI Details Increase in Fraudulent Claims – $29 Million per Week
The Association of British Insurers reports that the UK’s insurance companies are “detecting more fraudulent claims than ever: over 2,500 worth £18 million [$29.446 million] every week.” A number of...
View ArticleWhat New Car Insurance Rules Mean for New Jersey
New Jersey proposed a sweeping overhaul last week to its regulations for the personal injury protection component of auto insurance, hoping to curb rising premiums. The changes affect how and what...
View ArticleUK Government to Ban Personal Injury Referral Fees
The UK government has come down on the side of the country’s insurance industry with its announcement from Justice Minister Jonathan Djanogly that it will ban referral fees in England and Wales. The...
View ArticleLloyd’s Bolt: Offshore Energy Underwriters Aren’t ‘Robustly Managing Risks’
In a keynote speech at the annual Houston Marine Insurance Seminar Tom Bolt, Lloyd’s Director of Performance Management, told an audience of energy insurers that he is not convinced offshore energy...
View ArticlePanel Reports Climate Change to Cost Canada Many Billions
Climate change will cause damage in Canada equivalent to around 1 percent of GDP in 2050 as rising temperatures kill off forests, flood low-lying areas and cause more illnesses, an official panel said...
View ArticleTornado Cost Wichita, Kansas Area $146.3M
Sedgwick County, Kansas, officials say the tornado that hit Oaklawn and southeast Wichita on April 14 caused an estimated $146.3 million in damage. County officials say the tornado damaged or destroyed...
View ArticleUK MGA’s Advised on Changes in Employers Liability, Public Liability Claims
Impending changes in UK laws governing claims for Employers Liability (EL) and Public Liability (PL) should be a priority membersof the UK’s Managing General Agents’ Association were told at a recent...
View ArticleSwiss Re Report Analyzes Rise in Flood Losses – $15 Billion and Counting
A new report from Swiss Re underscores the fact the “insured flood losses have increased from $1–2 billion in 1970 to $15 billion in 2011, which it describes as an “alarming rate” while posing “unique...
View ArticleUK Competition Comm. to Investigate Auto Insurance; ABI Welcomes Move
The UK’s insurance market for auto insurance has been referred to the Competition Commission for investigation. The Office of Fair Trading (OFT), which made the referral, expressed concerns that the...
View ArticleUK Drivers Poor Eyesight Costs $52.7 Million a Year Says RSA Report
A new report, commissioned by global UK-based insurer RSA, has found that road accidents caused by poor driver vision cost the UK an estimated £33 million [$52.7 million] a year and result in nearly...
View ArticleIran Oil Liability Fears Grow as Insurance Ban Bites
A ban on European Union insurers covering Iranian oil exports has forced ship owners to fall back on new, untested insurance providers, raising fears that governments may have to pay in the event of an...
View ArticleLloyd’s Report Focuses on ‘Gap’ in Disaster Costs and Insurance Coverage
A new report from Lloyd’s notes that the “the world has been battered by natural catastrophes in recent years, revealing a serious gap between the economic cost of natural catastrophes and the levels...
View ArticleMunich Re Study Focuses on Rising ‘Cyber Crime’
“Cyber attacks are a reality and companies need to prepare themselves,” warns Munich Re in a recently released study – “Cost of Cyber Crime” – conducted by the Ponemon Institute. “Advancements in the...
View ArticleOfficials Say Costs from North Dakota Flooding Adding Up
Although spring flooding in North Dakota wasn’t as bad advertised in some areas, officials who are totaling the damages say the costs are piling up. The question is whether the final figure will...
View ArticleICC Says Impact of Counterfeiting/Piracy to Reach $1.7 trillion by 2015
A new report released from its Paris headquarters by the International Chamber of Commerce (ICC) indicates that the global economic and social impacts of counterfeiting and piracy will reach US$1.7...
View ArticleLloyd’s Market Association Questions Aspects of FSA Regulatory Reform
In a response to the proposals to restructure the UK’s financial regulations the Lloyd’s Market Association (LMA) has taken issue with some of the proposals, which, in its view are “over-engineered”...
View ArticleWho Is Paying News Corp. Legal Bills? – D&O Coverage Heavily Involved
With executives from News Corp. and some of its subsidiaries heading for the exits, legal bills from the phone-hacking scandal rocking the company are no doubt stacking up. But depending on the...
View Article
