Boston-based catastrophe modeling company AIR Worldwide said it has expanded and enhanced its earthquake and typhoon model for India to include the ability to account for earthquake shake and liquefaction. The model's seismicity analysis covers areas with seismic activity that may affect India, Pakistan, Nepal, Bhutan and Bangladesh, however the model assesses damage and loss for locations within the boundaries of India.
Specialty reinsurer Sompo Canopius AG, based in Zurich and but owned by Sompo Japan Nipponkoa Insurance Inc., and Mexico City-based Grupo Nacional Provincial SAB, said they will work together to develop new business and insurance products for the Mexican market.
Waco, Texas-based Texas Farm Bureau Insurance said it has asked the Texas Department of Insurance to approve a Homeowners' policy update that would include a mandatory mediation-arbitration clause. The policyholder could add the optional endorsement in exchange for a premium discount. A hearing on the matter is scheduled for July 6.
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
