March 23: Business Briefs

The Australian floods and New Zealand earthquake will cost Axis Capital holdings between $275-415 million.

The company said it is too early to estimate losses from the Japanese earthquake and tsunami but it expects to see more than $25 million in claims.

Allied World exec to chair panel

Kirsten Faria wants to stop medical underwriters from tossing and turning at night. The Allied World senior vice president for healthcare will moderate a panel today and tomorrow at the PLUS Medical Professional Liability Symposium in the U.S.

The discussion is entitled Medical Necessity and Batch Claims: Keeping Underwriters From A Good Night’s Sleep and will be held at the Sheraton Chicago Hotel & Towers.

Ms Faria overseas the healthcare book of Allied’s business in Bermuda and the build-out of healthcare operations in Europe and Asia.

CEO to speak at conference

David Cash, CEO of Endurance Specialty holdings, is due to speak at the J.P. Morgan 2011 Insurance Conference in New York. He will give a talk on Tuesday, March 29, at 4:30pm Atlantic Time.

Montpelier collaterol lowered

Florida regulators gave the green light on Monday to Montpelier Reinsurance meeting a lower collateral level.

The new regulation allows companies with at least $100 million in capital and surplus and a high rating by two agencies to have reduced capital.

Omega for sale

Omega Insurance holdings is looking over offers to buy the company.

Canopius Group made an unsolicited offer to purchase Omega in January.