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Daily NewsFlash : January 16, 2013

Daily NewsFlash
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Wednesday, January 16, 2013

House Approves Sandy Aid Package of $50.5 Billion

Sandy aid package approvedThe House on Tuesday approved $50.5 billion in aid to help Northeastern states rebuild after superstorm Sandy-a major, if delayed, victory for hard-hit parts of New York and New Jersey.

The measure could be taken up by the Democratic-controlled Senate next week, where it will likely rece...

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A.M. Best Ratings Chief: P/C Results Should Improve in 2012 Despite Pressures Such as Less Adequate Reserves

AM BestMatt Mosher, senior vice president and chief rating officer at A.M. Best Co., spoke with BestWeek ahead of the Jan. 15 Property/Casualty Joint Insurance Industry Forum in New York. He'll be one of the featured speakers at the forum.

Q: How would you describe the state of the property/casualty market today?

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Swiss Re Sigma Study Puts Spotlight on Role Insurance Can Play in Improving Food Security Globally

Swiss and food securityGlobal agricultural production must increase by 60% to feed the world's population, which will reach 9 billion by 2050. Swiss Re's latest sigma research publication, "Partnering for food security in emerging markets" proposes a multi-stakeholder approach to address the problem of ...

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Boost Is Seen In New Jersey from U.S. Aid

New Jersey and Sandy aid

New Jersey could experience a "modest" positive economic impact from superstorm Sandy even when factoring in heavy losses in employment and consumer spending after the Oct. 29 storm, according to a study released Monday.

The storm won't entirely erase the losses in spending and...

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Axis Insurance Services Employees Earn Outstanding Achievement Awards

AxisAxis Insurance Services, LLC employees have earned Outstanding Achievement Awards for their dedication to the company and the high caliber of service to their customers.

Axis Insurance Services, LLC is a specialty insurance brokerage, hav...

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Allianz Expects $590 Million Loss From Sandy

Allianz SEAllianz SE is estimating Hurricane Sandy will have a total impact of US$590 million on the group's financials, but the loss is not expected to negatively affect the group's profit projections.

The loss estimate includes payments to customers and "related items" such as ...

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Worst U.S. Drought Led to Record Crop-Insurance Claims

Crop insurance claimsAccording to government data, the worst U.S. drought since the 1930s led to record payouts on crop-insurance claims, with farmers collecting $11.581 billion as of yesterday for damage in 2012.

Payments are up 6.8 percent from 2011, when claims reached the previous record of $10.843 billion,...

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