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Daily NewsFlash : March 12, 2013

Daily NewsFlash
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Tuesday, March 12, 2013

Big I Study Reveals Growth in Property-Casualty Insurance Market

BIG I studyThe Independent Insurance Agents & Brokers of America (IIABA or the Big "I") has released the results of the 2013 Market Share Study (based on 2011 data) which reveal that after years of market contraction, all...

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Commercial Insurance Prices Increase for the Eighth Straight Quarter

Commercial insurance ratesCommercial insurance prices rose by almost 7% in aggregate during the fourth quarter of 2012, marking the eighth consecutive quarter of price increases and the fourth...

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Report: Most Insurers Not Prepared for Climate Change

Climate ChangeMost insurance companies do not have comprehensive strategies to cope with climate change despite mounting weather-related claims, says a report released last Thursday.

Of 184 companies surveyed, only 23 had such strategies, and 13 of those that did were foreign-owned, according to report by Ce...

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Judge Strikes Down NYC Sugary-Drinks Size Rule

Soda ban A judge struck down New York City's groundbreaking limit on the size of sugar-laden drinks Monday shortly before it was set to take effect, agreeing with the beverage industry and other opponents that the rule is arbitrary in applying to only some sweet beverages and some places that sell them.

"The loopholes ...

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Munich Re Optimistic for 2013, Aims to Post $3.9 Billion in Profits

Munich Re profitsFollowing the pleasing result for 2012, Munich Re is aiming for a profit of close to €3bn for the current year. CEO Nikolaus von Bomhard was opt...

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MetLife to Create 2,500 Jobs in North Carolina

MetLife jobs in North CarolinaMetLife, Inc., a leading global life insurance and employee benefits company, will be creating 2,600 jobs in Charlotte and Cary, North Carolina by the end of 2015. The compa...

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AIG Shareholders Win Class-Action Status in Lawsuit Against U.S.

AIG class action suitsTwo groups of American International Group (AIG) shareholders won class-action status from a federal judge on Monday in a $25 billion lawsuit by former Chief Executive Maurice "Hank" Greenberg over alleged losses caused by the U.S. government's bailout of the insurer.

U.S. Court of Federal Claims ...

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Space Industry Liability Bill Clears Legislature in New Mexico

Space TravelThe Legislature gave final approval Monday to a proposal that Gov. Susana Martinez says is critical for New Mexico to develop a commercial space travel industry.

Legislation to limit the liability of spacecraft manufacturers and their suppliers is heading to the Republican governor, who is expected...

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Impact Forecasting Launches New Scenario Models for Superstorm Sandy, Thailand Flood, Japan Tsunami and European Windstorm

AonImpact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has launched a suite of new scenario models to generate loss estimates for specific historic or hypothetical events. Aon Benfield is the global reinsurance intermediary and capital advisor of Aon plc.

Loss estimates for events ...

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