News

Swiss Re says it has paid “a large amount” of claims on micro-insurance policies purchased in Haiti to cover losses from recent storms there.

Another standard bearer for the insurance industry is fading away: the paper bill. Insurers are following the lead of other financial services companies by exploring all the possibilities in electronic bill presentment.

While insurers and non-insurers cite consolidation and strengthening competitive position as the reason for mergers and acquisitions, insurers say they are more successful in carrying out this objective, according to a survey from Towers Watson.

In spite of the fact that commercial renewal prices continued to fall in the first quarter, a composite pricing index based on reports from 1,200 risk managers shows that prices are still 15 percent higher than at year-end 2000.

Zurich Financial Services Group says it expects $295 million in losses from April and May U.S. storms for both Zurich North America and Farmers Re.

Karen Rutledge details how her agency has been dealing with this enormous catastropheand the profound impact it has had on her clients.