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BP Exploration & Production said it will waive a $75 million liability cap in the Oil Pollution Act (OPA) and urges other "responsible parties" of the Deepwater Horizon disaster to do the same.
A survey by the Risk and Insurance Management Society (RIMS) revealed the soft market is "far from over" but premiums declined less during the third quarter.
The PCIAA is voicing concern to the Treasury Department that its plan for making payments to and getting funds from insurers following a terrorism incident incorporates a "one-size-fits-all" approach that may not work in the real world.
Although economists generally do not expect sharp increases in inflation, insurers should develop plans to consider how they will respond if inflation surges amid record government spending and aggressive monetary policies, a new Swiss Re study states.
A new study from the Insurance Research Council (IRC) concludes that state-run residual markets have unintentionally provided the means for development in vulnerable coastal areas while some plans face an increasing risk of insolvency.
Claims Magazine is twittering every day about breaking news and timely topics -- not to mention keeping readers up to date on what's being posted on claimsmag.com.
The leadership of the National Association of Insurance Commissioners fully expects some major turnover in its ranks in the coming months, but they've done it before and expect to continue with their work unabated.
The leadership of the National Association of Insurance Commissioners fully expects some major turnover in its ranks in the coming months, but they've done it before and expect to continue with their work unabated.
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