Articles by Lisa Howard

Fire on Cargo Ship that Destroyed Volkswagen Cars Extinguished

The fire on the cargo ship Felicity Ace, which had burned for more than a week, is likely extinguished and the vessel is now being towed, according to the operator MOL Ship Management. The ship had been transporting thousands of …

Parametric Catastrophe Insurer to Make Record $40M Payout for Haiti Quake

CCRIF SPC, the Cayman Islands-based parametric catastrophe facility, will pay approximately US$40 million to the government of Haiti, following the devastating magnitude 7.2 earthquake, which struck the Caribbean island on Aug. 14, significantly affecting the city of Les Cayes. This …

Insurance Flipsides: Countering the Industry’s Negative Perception Problem

The editors at Wells Media have long noticed that the insurance industry is viewed rather negatively by “civilians” – your customers. As a result, we are beginning a regular series of columns, called “Insurance Flipsides,” which will highlight the many …

How Difficulties May Follow After a D&O Claim Is Denied

When a directors and officers (D&O) claim is declined, it can be catastrophic for an insured, forcing the company to deal with “the financial costs of a claim or loss entirely on its own,” according to a report published by …

May’s Global Disasters Generate $7 Billion in Claims: Aon

Global disasters led to at least $7 billion in claims during May as insurers aid the recovery process following wildfires, floods, and storms, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. An historic wildfire caused catastrophic damage in …