The established insurance markets in Western European countries and the developing markets in Latin American countries present separate sets of challenges for insurers looking to grow in these regions, but unique opportunities exist for those who understand and take advantage of the different business environments, regional experts say.
One mans days in the sun could be numbered after he allegedly committed insurance fraud to collect thousands in undeserved workers compensation benefits.
One mans days in the sun could be numbered after he allegedly committed insurance fraud to collect more than $40,000 in undeserved workers compensation benefits.
The magnitude 7.1 earthquake that rocked Chile on Sunday is not expected to be a significant insurance loss, while Japan once again experienced a significant quake today that fortunately caused no damage.
A 6.5 magnitude earthquake shook the Bio-Bio region of Chile early Wednesday morning but there have been no reports of significant damage, a catastrophe modeler said.
Even before another series of earthquakes struck Chile last week, global reinsurers were tallying their losses from the Feb. 27 event and providing independent estimates of its impact for the entire insurance industry.
Another series of earthquakes struck Chile. A 6.9 magnitude quake shook the central part of the country, including Santiago, the U.S. Geological Survey reported.
PartnerRe Ltd. said it expects insurance industry losses from the Chile earthquake could hit $10 billion and its own expected claims could exceed $300 million.