Agency Management

An explosion at Caribbean Petroleum Corporation's Bayamon oil storage and refinery facility in Puerto Rico destroyed 18 of the facility's 40 storage tanks and shattered the windows of nearby buildings and vehicles

The movement toward stronger enterprise-wide risk management (ERM) practices following the 2008 financial crisis has continued gathering steam among insurers and reinsurers this year, according to a new study.

Improved conditions in the investment markets and the arrival of new capacity have significantly increased the capital position of Lloyd's of London during the first half of 2009, according to a report released today by Aon Benfield.

The latest "Saw" movie channels public wrath against health insurers by targeting those in claims, yet another example of how pop culture capitalizes on the industry's poor reputation, says NU Editor Sam Friedman on his blog at www.NUSamSoapBox.com.

Most program business insurers believe gross premium volume for their segment totals at least $20 billion, but a growing subset now has doubts that they are actually writing that much as a group, a survey reported.

Risk managers from both the private and public sectors issued renewed calls for complete transparency.