News

Bermuda-based Torus announced its intention to acquire Glacier Insurance AG headquartered in Liechtenstein for undisclosed terms today.

The Mexican earthquake in early April with effects in California created a loss for insurers estimated at more than $300 million, according to reinsurance broker Aon Benfield.

U.S. Senate Republicans believe that failure to increase federal oversight of large insurance companies is a major deficiency of financial services reform legislation.

The Louisiana State Senate has passed a bill banning insurers from canceling homeowners and commercial property coverage because of Chinese drywall claims.

The losses from the Deepwater Horizon drilling platform explosion are not expected to significantly impact the insurance marketplace or buying behaviors, a brokerage executive said.

For risk managers to keep their jobs in this difficult economy, they must make sure senior management appreciates the bottom-line savings they produce, warns NU Editor Sam Friedman wonders in his blog at www.NUSamSoapBox.com.