Industry News

Headlines

Insurance Journal - 2 September 2010 - Hurricane Earl Causes Evacuation of North Carolina Coast
The threat of Hurricane Earl is prompting many to flee North Carolina's vacation islands and federal authorities are warning residents along the Eastern seaboard to be ready to evacuate, the Associ

Insurance Journal - 2 September 2010 - Reinsurers Under Pressure from Low Premiums, Catastrophes: Fitch
The reinsurance sector is vulnerable to a significant insured loss from the Atlantic storm season as their reserve capital has been used to offset low premiums, Fitch Ratings said, as Hurricane Ear

Reactions - 2 September 2010 - European insurers' outlook still negative

European insurers' first half reporting data, which represented a continuation of sales and profitability levels witnessed during 2009, combined with the challenges faced by these insurers for the remainder of 2010, reinforce the negative outlook on the wider European insurance industry,...

FSA & Regulatory

Insurance Journal - 2 September 2010 - Financial Reforms Will Help Curb Systemic Risk, Regulators Tell Panel
New powers from the financial reform law will help avoid a repeat of 2008's frenzied sale of Wachovia and the wreckage that followed the collapse of Lehman Brothers, U.S. regulators said Wednesday.

Hurricanes And Tropical Storms

Business Insurance - 2 September 2010 - Earl causes at least $50M in insured losses: Modelers
BOSTON—Hurricane Earl caused an estimated $50 million to $150 million in insured losses to onshore properties in the Virgin Islands, St. Martin/St. Maarten and Puerto Rico, catastrophe modeler AIR Worldwide Corp. said Wednesday.

And Finally

BBC News - 2 September 2010 - California golfer's errant swing 'sparks 12-acre blaze'
A California wildfire was sparked when a golfer trying to hit a ball out of the rough struck his club against a rock, fire officials have said.

Property and Casualty

Insurance Journal - 2 September 2010 - A Stronger Property Insurance Market in Louisiana Post-Katrina
Despite the devastation from Hurricane Katrina in 2005, Louisiana Insurance Commissioner Jim Donelon says the state's insurance market is stronger now and that the "outlook for continued market rec