New York Mayor Michael Bloomberg on Tuesday announced a $20 billion plan to prepare for rising sea levels and hotter summers expected as a result of climate change in the coming decades.

A subsidiary of Chubb Corp. and other insurers must defend themselves against a lawsuit for refusing to cover more than $200 million paid out by Bear Stearns over illegal mutual fund trading practices, New York's highest court ruled on Tuesday.

A subsidiary of Chubb Corp. and other insurers must defend themselves against a lawsuit for refusing to cover more than $200 million paid out by Bear Stearns over illegal mutual fund trading practices, New York's highest court ruled on Tuesday.

Britain's Lloyds Banking Group said it had ended a contract with Deloitte after problems were uncovered in the way a call centre operated by the business services firm handled customer complaints about mis-sold loan insurance.

German insurers are likely to face damage claims from current flooding in the country that are higher than the 1.8 billion euros ($2.4 billion) seen in the Elbe River floods of 2002.

Tropical Storm Andrea moved briskly along the South Carolina coast on May 7, bringing drenching rains and threatening to spawn tornadoes as it churns up the Eastern Seaboard, U.S. forecasters said.

Tropical Storm Andrea moved briskly along the South Carolina coast on May 7, bringing drenching rains and threatening to spawn tornadoes as it churns up the Eastern Seaboard, U.S. forecasters said.

Insured damage from the worst floods in the Czech Republicin more than a decade could cost $381.35 million, the country's insurers said on Thursday.