Loss Control

U.S. insurer USAA plans to raise $250 million of protection against natural disasters with the sale of a new catastrophe bond, despite the threat of a payout on previous such deals following Hurricane Sandy.

Because Superstorm Sandy is an example of how hurricanes (or any natural disaster, for that matter) don't pick favorites, a National Catastrophe Fund is needed to spread risk.

Because Superstorm Sandy is an example of how hurricanes (or any natural disaster, for that matter) don't pick favorites, a National Catastrophe Fund is needed to spread risk.

New York City's parks and beaches will be closed at noon on Wednesday for at least 24 hours as a new storm system approaches just over a week after superstorm Sandy devastated the region with widespread flooding and wind damage, the mayor said on Tuesday.

A housing crisis loomed in New York City as victims of superstorm Sandy struggled without heat in near-freezing temperatures on Sunday and nearly 1 million people in neighboring New Jersey shivered in the dark without power

Reinsurers should be able to absorb losses from Superstorm Sandy without a negative ratings impact, says Fitch Ratings. Meanwhile, Moodys Investors Service says the storm could, in a worst-case scenario, cause losses for the Combine Re catastrophe bond.

Reinsurers should be able to absorb losses from Superstorm Sandy without a negative ratings impact, says Fitch Ratings. Meanwhile, Moodys Investors Service says the storm could, in a worst-case scenario, cause losses for the Combine Re catastrophe bond.

Investors who have put their money into specialist financial bonds which cover insurance companies from huge natural disasters are unlikely to be hit with big losses from monster storm Sandy even though it is one of the biggest ever to hit the United States.