Takeover cover
A sharp rise in the number of hostile takeover bids in 2003 is likely to encourage more companies to seek insurance cover against the cost of fighting off a hostile preda …

Takeover coverA sharp rise in the number of hostile takeover bids in 2003 is likely to encourage more companies to seek insurance cover against the cost of fighting off a hostile predator, claimed Hiscox.Hiscox underwriter Anka Taylor said that inquiries about takeover insurance had shot up in recent months, while actual sales had risen 5% last year.

Catastrophe riseInsured losses from natural catastrophes reached approximately $16bn during 2003, up 39% from $11.5bn in 2002, said Munich Re in its natural catastrophes annual review. It said the 700 natural hazard events throughout the year claimed more then 75,000 lives.

MIB softwareThe Motor Insurers Bureau (MIB) has selected the Computer Sciences Corporation's Colossus software for assessing personal injury claims.