Catastrophe models insurers use to assess risk could help governments and aid agencies develop new approaches for sustainable development and poverty alleviation, said Rowan Douglas, chairman of the Willis Research Network.

Just like being in the eye of a storm, the workers' compensation industry is in the eye of change which has accelerated due to the financial crisis, the "Great Recession" and continued increasing costs.

Close to 1,000 homes were destroyed or damaged by the fatal weekend tornado activity in eight southern states, according to reinsurance brokerage Guy Carpenter and other sources.

A second, more gigantic, ash cloud eruption from another Icelandic volcano named Katla is now "probable" a catastrophe modeling firm is warning.