Business Insurance - Web News http://businessinsurance.com/section/news http://www.businessinsurance.com en-us Wed, 16 Apr 2014 08:08:03 EST 10 Australia: Insurance claims from Cyclone Ita damage continue to rise http://businessinsurance.com/article/20140416/NEWS09/140419895 20140416/NEWS09/140419895 The Insurance Council of Australia said it had received 510 claims worth $7.6 million Australian ($7.1 million) by Apr.14 2014, just days after Cyclone Ita struck North Queensland, The Sydney Morning Herald reported. Wed, 16 Apr 2014 05:29:46 EST China: Regulator probing insurers' investment units for insider trading http://businessinsurance.com/article/20140416/NEWS09/140419896 20140416/NEWS09/140419896 Officials from China's insurance regulator have quietly started investigating the investment operations of insurers to look at the operational risks they carry, reports Cnfol.com. Wed, 16 Apr 2014 05:26:12 EST Russia declares Ukraine on verge of civil war http://businessinsurance.com/article/20140416/NEWS09/140419897 20140416/NEWS09/140419897 Russia has warned that Ukraine is on the verge of civil war, Reuters reported. Wed, 16 Apr 2014 05:24:47 EST Natural disasters to cost Canadian economy up to $39.16 billion by 2050: Report http://businessinsurance.com/article/20140416/NEWS09/140419898 20140416/NEWS09/140419898 A new report by TD Economics said natural disasters are estimated to cost the Canadian economy $21 billion Canadian ($19.12 billion) to $43 billion Canadian ($39.16 billion) per year by 2050, Toronto Star reported. Wed, 16 Apr 2014 05:23:34 EST Chile: Deadly Valparaiso fire to have limited impact on insurers, says Fitch http://businessinsurance.com/article/20140416/NEWS09/140419899 20140416/NEWS09/140419899 Rodrigo Salas, senior director for insurers at Fitch Ratings Chile, said the large fire that killed an estimated 15 people in Chile's Valparaiso city will have a limited impact on insurers, BNamericas reported. Wed, 16 Apr 2014 05:22:18 EST Malaysia: Sabah flood causes millions in infrastructure damage, says official http://businessinsurance.com/article/20140416/NEWS09/140419900 20140416/NEWS09/140419900 Sabah Chief Minister Datuk Seri Musa Aman said floods during late 2013 to Feb. 18 2014 caused an estimated 97.4 million Malaysian ringgits ($30 million) in infrastructure damage, Bernama reported. Wed, 16 Apr 2014 05:20:51 EST Brazil: Olympic construction workers vote to continue strike indefinitely http://businessinsurance.com/article/20140416/NEWS09/140419901 20140416/NEWS09/140419901 Striking workers at Rio de Janeiro's 2016 Olympic venues voted to continue their strike-action indefinitely, Reuters reported. Wed, 16 Apr 2014 05:17:35 EST China: Ministry rates Beijing's air quality 'seriously polluted' http://businessinsurance.com/article/20140416/NEWS09/140419902 20140416/NEWS09/140419902 Beijing's air quality was rated as "seriously polluted" on Apr.14 2014 by the Ministry of Environmental Protection, Xinhua reported. Wed, 16 Apr 2014 05:16:14 EST Romania: Insurer Asirom posts $72.39 million loss in 2013 http://businessinsurance.com/article/20140416/NEWS09/140419903 20140416/NEWS09/140419903 Romania-based insurer Asirom S.A. recorded a loss of 235.5 million Romanian lei ($72.39 million) in 2013, compared with a profit of RON 14.9 million ($4.4 million) in 2012, Romania-Insider reported. Wed, 16 Apr 2014 05:14:39 EST Texas town eyes new fertilizer plant a year after deadly blast http://businessinsurance.com/article/20140415/NEWS06/140419904 20140415/NEWS06/140419904 (Reuters) — Not far from an enormous crater where a fertilizer plant stood before an explosion there killed 15 people, lifeless and uprooted trees surround boarded-up homes spray-painted with “OK.” Tue, 15 Apr 2014 15:11:46 EST