Insurance News

Posts Tagged ‘Change

NEW YORK (Bloomberg)?Robert Benmosche, the American International Group Inc. CEO who replaced the head of the insurer’s main Asia unit, said the change was needed to prepare for the division’s initial public offering.

Mark Tucker was named head of AIA Group Ltd. Monday, replacing Mark Wilson, 43. Mr. Tucker has 15 years of experience building the Asia operations of competitor Prudential P.L.C., Mr. Benmosche told employees Monday in a letter Read the rest of this entry »

WASHINGTON?Political feuding over global warming reached the Securities and Exchange Commission Wednesday when commissioners, divided on party lines, voted to encourage companies to disclose the effects of climate change on their business.

SEC Chairman Mary Schapiro, an Obama administration appointee, said the agency wasn’t weighing in on the global-warming debate and wanted to ensure that investors get reliable information.

The Read the rest of this entry »

COPENHAGEN, Denmark?High hopes may be dimming for a global agreement to reduce greenhouse gas emissions at the U.N. Climate Change Conference in Copenhagen, Denmark, but risk managers and insurers do expect changes to come from the historic meeting in December.

World leaders are debating whether to try to forge a treaty at the Dec. 7-18 conference to replace the Kyoto Protocol, which was signed in 1997 and went into effect in 2005. It Read the rest of this entry »

MIAMI (Reuters) – Poverty and climate hazards make the southeast United States the country’s most vulnerable area to climate change impact, Oxfam America said on Wednesday.

A report released by the relief organization identified high-risk “hotspots” across 13 southeast states from Arkansas to Virginia where poverty factors combined with high risk of drought, flooding, hurricanes and sea-level rise.

“Social factors like income and Read the rest of this entry »

Despite some large payouts to wealthy homeowners stung by the Madoff Ponzi scheme, it is unlikely that property underwriters will set about revising coverage language for fraud, an expert said.

Robert P. Hartwig, president of the Insurance Information Institute, commented on the issue of claims compensation for victims of the Madoff scheme after a well-publicized class action lawsuit.

That legal action came after American International Read the rest of this entry »

A U.S. study suggests the climate change effect of dry autumns and winters may lead to fewer tornadoes developing during the spring season.

University of Georgia researchers say global warming will likely mean more unpredictable weather conditions. They said their study indicates how drought conditions in an area’s fall and winter may affect tornado activity the following spring.

The scientists said their study was specific to Georgia Read the rest of this entry »

Annual traffic crash deaths are on the verge of dropping below 40,000 for the first time since the early 1960s, and it’s not solely because our miserable economy is taking drivers off the roads.

Significant declines in roadway fatalities and injuries also can’t be explained away with the period last summer when we paid $4 for a gallon of gas.

“There is something else going on,” said Michael Sivak, a research professor who leads the Read the rest of this entry »