2997

Sandy insured losses could reach tens of billions

State Farm, Allstate and Travelers will bear brunt, says Fitch

2996

Loss estimate for hurricane Sandy tops $5bn

Up to $10bn in insured losses and $20bn in economic damages, says Eqecat

2992

Prudential's overseas expansion requires greater capital buffer

S&P puts Pru on "negative outlook" as capital adequacy weakens

2991

NAIC budgets for nat cat stress test, systems upgrade

Proposed 2013 revenues 3.9% higher than in 2012 plan

2949

US ORSA heralds a brave new world

Last month, the NAIC adopted the Risk Management Own Risk and Solvency Assessment model act. The move marks a dramatic shift for the industry and US insurers should start preparing for the 'game-changing' ORSA now, not wait until 2015, say Howard Mills and Elisabetta Russo

2934

Outsourcing of cat risk models "dangerous"

Validus Re CEO warns of "unacceptable level of volatility"

2932

One fifth of London market premium written outside UK

More than £17bn premium income last year, IUA's survey finds

2931

North America suffers most from extreme weather

Human-made climate change to blame for increasing losses, says Munich Re

2924

IAIS proposes measures to deal with 'risky' insurers

Consultation open until 16 December

2903

Global Federation of Insurance Associations set up

Members are 31 associations representing 87% of world's insurance business