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Hopes BP can settle early out of court on liability for its 2010 U.S. Gulf oil spill looked forlorn on Wednesday after U.S. prosecutors laid out a legal case for gross negligence on which tens of billions of dollars hang.
Sales of catastrophe bonds, which let reinsurers and insurers transfer risk to capital markets, have reached a four-year high and are expected to hit $6 billion by the end of the year, Aon Benfield said.
Average rate increases for commercial and personal insurance lines continued their upward push through August rising an additional point over the prior month, says MarketScout.
First quarter insurance brokerage fees for bank-owned brokerage firms was down close to 11 percent over the same period last year according to a report from a bank consulting firm.
A U.S. judge ruled that AMR Corp's American Airlines and United Continental Holdings Inc must face trial over claims relating to the Sept. 11 attacks that destroyed the landmark towers of the World Trade Center in New York almost 11 years ago.
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