Insurers to sue Worldwide Weather Trading for fraud

A number of insurance companies have been granted the go-ahead by the Nassau County Court in New York to launch a lawsuit against Worldwide Weather Trading (WWT), alleging the company fraudulently sold weather derivatives policies. The plaintiffs will…

Chubb head calls for more chief risk officers

Dean O’Hare, chairman and chief executive of Chubb Corporation, believes companies without a chief risk officer are not handling risk management effectively. Speaking at the Risk & Insurance Management Society’s annual conference in New Orleans today, O…

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