OLDWICK, N.J.– LAWFUEL – The Law Newswire –Potential liability claims arising from the massacre at Virginia Tech University will hinge on whether or not school authorities were negligent in responding to the April 16 campus shooting or had adequate emergency management plans in place to prevent it, according to an exclusive story in this week’s BestWeek.
The deadliest shooting in U.S. history will very likely change the way university risk managers operate. Unlike the terrorist attack of September 11, 2001, experts said, it is unlikely it will have an immediate impact on the university insurance market, although some fear copycat events could have an impact.
Also in BestWeek:
— As risk grows more complex, insurers and reinsurers are showing an increasing willingness to tap into the skills of academia in order to improve their underwriting. The Lighthill Risk Network hopes to build on that appetite.
— New Jersey is ranked as being the most vulnerable to insured losses per 1,000 square miles from a twister, according to an A.M. Best Co. special report entitled “2007 U.S Tornadoes, Toto…We’re Not In New Jersey Anymore.”
— Best’s Global Insurance Composite Index finished the week of April 19 up 15.39% from a year ago.
The composite index reflects the performance of 182 insurance stocks. The week’s top performers were Commerce Group, Atlantic American Corp., Meadowbrook Insurance Group, Cincinnati Financial Corp., and Marsh & McLennan Cos.
The bottom five performers were China Insurance International Holdings, Korean Reinsurance Co., Novae Group, Jardine Lloyd Thompson Group, and Mitsui Sumitomo Insurance Co.
BestWeek is published by A.M. Best for insurance professionals.
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