Policy includes coverage for event cancellation, general liability and property Staff on September 22, 2017 CFC Underwriting has expanded its contingency insurance offering with the launch of a brand new event insurance package policy for its Canadian customers.The new policy includes insurance for instances of event cancellation in addition to general liability and property cover […]

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Both insurers and reinsurers forecasting pessimistic economic outlooks thanks to costs from recent hurricanes Damian J. Troise, The Associated Press on September 22, 2017 Allstate expects insurance losses of about US$593 million in August after Hurricane Harvey left a path of destruction along the Gulf Coast.The initial accounting Thursday follows warnings from other insurers that […]

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Americans are still buying homes in areas with high risk of natural hazards and the homes in those cities continue to appreciate in value far faster than homes in low natural hazard locales. However, the effect on home values of living in a high risk area is being felt in two high risk states — […]

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A.M. Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a” from “a-” of Prime Insurance Company (PIC) in Chicago, Ill. The outlook of these ratings has been revised to stable from positive. The ratings apply to PIC and are based on the consolidation […]

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Ohio’s environmental regulators have more than doubled the proposed fines against a company building a natural gas pipeline from West Virginia to Michigan, saying the two sides are at an impasse. The fines now stand at $2.3 million and stem from what the Ohio Environmental Protection Agency says are numerous water and air pollution violations […]

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Lawyers expect a spate of force majeure contract lawsuits after Hurricane Harvey tore through Southeast Texas and parts of Louisiana last month, paralyzing a fifth of U.S. fuel output and pushing some oil production offline. Hurricanes and other natural disasters can affect the energy industry’s ability to honor contracts related to oil and natural gas […]

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The United States and European Union have scheduled a ceremony for today for the signing of a bilateral agreement on prudential insurance and reinsurance measures. Both sides announced in July their intention to sign the agreement, also known as a covered agreement in the U.S. The parties believe the agreement represents a step forward in […]

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The Federal Emergency Management Agency’s flood plain maps for parts of southeastern Houston were woefully out-of-date long before Hurricane Harvey ravaged the Texas coast, a new study suggests. Researchers at Rice University and Texas A&M University at Galveston studied one section of southeastern Harris County, which includes Houston, over a decade-long period that did not […]

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Minnesota Gov. Mark Dayton blasted federal health officials on Sept. 20 for holding up approval of a program meant to lower health insurance costs and threatening millions of dollars in cuts to health care for the working poor. State lawmakers tackled a precarious health insurance market on their own this year, creating a $542 million […]

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