The Week in a Minute, Feb. 17, 2012

  • The Thai floods cost Lloyd’s insurers $2.2B, the third-largest loss in the syndicate’s 324 years. (Katrina’s No. 1, and 9/11 is No. 2.) The Thai government is contemplating covering floods up to $16.2B in a single treaty, which would be some sort of public-private partnership.
  • Penn State puts its tab on the Sandusky scandal at $3.2M – so far. And it’s suing PMA for refusing to provide general liability cover. The university set up a web site as a pledge to openness at the institution.
  • European windstorm Andrea cost insurers $350M, PERILS estimates.
  • Zurich Financial plans to change its name to Zurich Insurance Group, the rest of that financial stuff haven’t not worked out so well.

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