Business Insurance Breaking News

Imperial Sugar settles property claim in 2008 explosion

SUGAR LAND, Texas—Imperial Sugar Co. says it has settled a property insurance claim in the February 2008 explosion at its Port Wentworth, Ga., refinery for a total of $345 million.

Outgoing AIG counsel to get millions in severance pay: Report

NEW YORK (Reuters)—American International Group Inc. is preparing to pay its departing general counsel several million dollars in severance after she resigned over federal pay curbs, the Wall Street Journal reported on Monday.

Natural catastrophe losses decrease in 2009: Munich Re

Economic and insured natural catastrophe losses in 2009 were lower than in 2008, largely due to a below-average Atlantic hurricane season, but several extreme weather events still caused $22 billion in insured losses worldwide, according to an analysis by Munich Reinsurance Co.

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