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Daily NewsFlash : February 14, 2013

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Thursday, February 14, 2013

National Hurricane Center: Sandy Was Second-Costliest in U.S. History

Sandy costsSuperstorm Sandy was the deadliest hurricane to hit the northeastern U.S. in 40 years and the second-costliest in the nation's history, according to a report released Tuesday.

The storm's effects reached far and wide, according to the National Hurricane Center report. While Sandy ...

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Facebook Wins Ruling in Shareholder Case

Facebook shareholder caseFacebook Inc., facing multiple shareholder lawsuits related to its botched initial public offering, scored an initial legal victory when a federal judge in New York on Wednesday dismissed a group of cases aga...

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AmWINS: State of the Property Market

AMWINSIf you had asked most people living in the metropolitan New York area on that third Sunday in October 2012 about their biggest concerns, most responses would likely have hinged rather trivially on the respective right arms of Eli Manning and Mark Sanchez. It was then that a menacing low pressure system was churning to...

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A.M. Best: 2012 Banner Year for Cat Bonds; 2013 Could Bring New Risks, New Sponsors

AM BestMore catastrophe bonds were issued in 2012 than any other year except for 2007, a sign the 16-year-old marketplace is maturing, said Asha Attoh-Okine, managing senior financial analyst of insurance-linked securities at A.M. Best Co.

2013 will also be a good year for cat bonds, Attoh-Okine said. "I would not b...

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Farmers Insurance Limiting Liability Coverage for Three Breeds of Dogs in California

Farmers InsuranceFarmers Insurance has "made the decision to limit liability coverage" in California for dog bite claims for three breeds of dogs, including Rottweilers, a spokeswoman the company said.

Farmers Insurance reviewed its liability claim history "and determi...

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Berkshire, 3G to Buy Heinz for $23 Billion

Berkshire HathawayWarren Buffett's Berkshire Hathaway Inc. and private-equity firm 3G Capital are teaming up to buy ketchup-maker H.J. Heinz Co. in a $23 billion deal, one of the largest-ever acquisitions in the food industry.

As part of the deal, which has been unanimously approved by Heinz's board, shareholders ...

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Zurich Maintain Strong Profitability in 2012

ZurichZurich Insurance Group today reported a business operating profit (BOP) of $4.1 billion and net income attributable to shareholders (NIAS) of $3.9 billion for the year ended December 31, 2012.

"We delivered a solid performance in 2012, a year characterized by ongoing economic challenges. Our dividend proposal is...

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