World Trade Center attacks : 657 million dollars deal for Ground Zero workers
More than 10,000 people who worked in the toxic chaos of New York’s Ground Zero after 9/11 could receive compensation totaling 657 million dollars for health problems under a deal reached Thursday. Thousands of plaintiffs, mostly firefighters, police and construction workers, have sued the city for what they say are health problems connected to work in the debris of the World Trade Center, which was destroyed in the September 11, 2001 attacks. On Thursday, the head of an insurance company that was funded with federal dollars to insure New... Lire la suite
English insurer encourages children to have vegetable gardens in schools
Fifty english schools will each be given their own vegetable garden to grow as a direct result of the hugely successful ‘Dig Down South West’ campaign, it has been announced today. The initiative (digdownsouthwest.co.uk) is aimed at encouraging children to grow their own produce. Schools across the region (full list in notes to editors) successfully registered on-line and were drawn from dozens of entries. Each primary school will receive a large selection of baby vegetable plants, courtesy of rural insurance firm Cornish Mutual. Last month... Lire la suite
Taiwan aims to rule on AIG unit’s deal by June
Taiwan aims to make a decision by the end of June on the controversial sale of the local unit of American International Group (AIG) to a Hong Kong consortium, a top economic official said Thursday. Deputy economic minister Hwang Jung-chiou also told a parliamentary briefing that an initial review showed the bid for Nan Shan Life Insurance was not backed by Chinese capital, as feared by many on the island. “The documents showed there was no Chinese investor involved… The Investment Commission would have rejected it if there were,”... Lire la suite
Dutch regulator fines Fortis Holding for market manipulation
Dutch financial markets watchdog AFM said Wednesday it had fined insurance group Fortis Holding 576,000 euros (780,000 dollars) for market manipulation and withholding share price sensitive information. Four fines of 144,000 euros each were imposed on Fortis Holding last month for actions that followed its takeover of Dutch bank ABN Amro in 2007 in a consortium with the Royal Bank of Scotland and Banco Santander of Spain, the AFM said in a statement. Two of the fines were for market manipulation related to then chief executive officer Jean-Paul... Lire la suite
Chile : Swiss Re estimates that earthquake may cost up to 7 billion dollars to insurers
Reinsurance giant Swiss Re on Wednesday estimated that insurers will have to pay up to 7.0 billion dollars (5.16 billion euros) for damages arising from the deadly earthquake in Chile. “This latest earthquake will lead to significant insurance claims for property damage and business interruption which are designed to facilitate a swift economic recovery,” said the Zurich-based reinsurer, noting that most Chileans take out insurance policies for their properties. “Swiss Re’s preliminary estimates suggest the total insured... Lire la suite
