Piracy Scourge Continues Unabated

U.S. Navy Investigates Pirates

GULF OF ADEN (July 22, 2011) A visit, board, search and seizure team from guided-missile cruiser USS Anzio (CG 68), investigates a suspected pirate skiff. Anzio is assigned to Combined Task Force 151, a multi-national, mission-based task force established by the Combined Maritime Forces in January 2009, to conduct counter-piracy operations in the Red Sea, Gulf of Aden, Somali Basin and Arabian Sea. (U.S. Navy photo by Mass Communication Specialist 2nd Class Bryan Weyers/Released)

While the Arab Spring and Eurozone crises have been dominating the headlines, piracy is still alive…and doing very well. In fact, there have been 214 reported attacks and 26 hijackings – the highest number of total attacks, year-on-year, reported in and around Somalia, with a increase in incidents also occurring in South East Asia and off the West Coast of Africa.

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5 Financial Stories You May Have Missed – The “20/20 Hindsight Rule”

settlements

To be a CD, or Not to be a CD, That is the Question

The facts are seemingly pretty clear.  So why is the SEC suing SIPC (the brokerage industry insurance fund) for the first time ever? 

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New Madrid Quakes 200 Years Later–More Devastating?

New Madrid Earthquakes of the 1800s

New Madrid Earthquakes of the 1800s

Webinar: Earthquake Risk in the New Madrid Region

Attend the Willis Re Catastrohpe Management Service webinar January 18 at 11:00am ET. RSVP by Jan. 12.

200 years ago today, the first of three devastating New Madrid earthquakes struck the Central U.S. Some say these earthquakes rang church bells in Boston and caused the Mississippi to run backward. Of course this was before ShakeMap, YouTube, and Twitter. Many facts remain in dispute, but no one doubts it would be much different today.

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Cat Amongst The Pigeons? New Guidelines for Catastrophe Modelling

Flooding CitySolvency II is not short of documentation, with the output of Brussels and Frankfurt being better measured in inches rather than pages. But it is often light on practical guidance. One area where guidance is certainly required relates to the use and understanding of catastrophe models.

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D&O Insurance: Mind the Gap

Judges' gavelTo what extent is there a gap between the actual or perceived risk factors affecting directors of large companies in the current economic climate and the insurance designed to protect against these risks? That was the question which lay behind our decision to run a survey in conjunction with international legal practice Allen & Overy.

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Virginia Tech Shooting Highlights Lessons Learned

Virginia Tech Candlelight Vigil

Candlelight Vigil at Virginia Tech in 2007. PHOTO CREDIT: B.W. Townsend

Last week’s shooting of a campus police officer at Virginia Tech brought back unwelcome memories of the attack that took place there four years ago, in which 33 people were killed and 25 injured by a single gunman.

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5 Financial Stories You May Have Missed – And a Senior Moment

Gavel Over Money

1. Criminal Prosecution Not the Answer to the Credit Crisis

The DOJ has spent considerable resources and worked hard for the last couple of years to find ways to criminally prosecute high-level financial executives. It now appears, however,

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Answer to Europe’s Energy Future is Blowing in the Wind

Wind Farm at SunsetLast week the European Wind Energy Association (EWEA) offshore wind conference in Amsterdam certainly threw up some dilemmas about Europe’s energy future. The overwhelming feeling amongst the senior conference delegates was that the renewable energy debate has to be won or else the whole industry will fail.

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Willis Power Market Review – The Year of the Cat

Year of the Cat-LossIn Vietnam, 2011 is the Year of the Cat, and people who doubt the legitimacy of such astrology-based designations might want to reflect on the fact that the year has indeed seen record levels of catastrophe (“cat”) losses.

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UK Car Insurance Premiums Increase by up to 50%

Motor insuranceWillis Re’s annual UK Motor Market Review, released today, shows that the downward trend in large motor claims is continuing, but that car insurance premiums are increasing by up to 50%.

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