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The question, posed to RMS President and CEO Hemant Shah, was whether Katrina was a "tail event"--one with a low probability of occurrence, plotted at the far right or tail-end of curves, known as
The House Financial Services Committee voted last week to approve legislation that would increase the borrowing authority for the National Flood Insurance Program, as well as implement several
In New York a spokesman for Attorney General Eliot Spitzer, whose office first surfaced charges of bid-rigging and steering between commercial insurance brokers and carriers, said regarding Zurich "th
"Over the last decade the state has experienced a significant loss of insurance companies that were domesticated in New Hampshire. The loss of a domestic insurance company to another state takes reve
A report that The St. Paul Travelers Companies of St. Paul, Minn. is discussing the possibility of a merger with Switzerland's Zurich Financial Services could signal that the U.S. company is having di
Yesterday AIG filed a third restatement of earnings back to 2000, which followed internal accounting probes after investigators uncovered what they said was fraudulent accounting. The company reported
Washington--The House Financial Services Committee approved legislation establishing a national standard for customer data security yesterday with modifications designed to make it more palatable for i
Speaking at the Chartered Property Casualty Underwriters Society reinsurance forum yesterday in Philadelphia, the chief operating officer of a small mutual casualty company said that engineering a maj
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