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Wednesday, April 03, 2013

U.S. Regulator, Bank of America Reach Mortgage-Loss Settlement

Bank of America settlementBank of America Corp. has reached a $165 million agreement with a federal credit union regulator, settling allegations that the bank downplayed the risks of poor-quality mortgages packaged into securities.

The announcement Tuesday by the National Credit Union Administration makes Bank of Am...

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SEC Embraces Social Media

SEC Social MediaExecutives with itchy Twitter fingers can rest easier after federal securities regulators blessed the use of

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Willis Re: New Capital Is a Threat to Reinsurers

Willis ReMany traditional reinsurers now see the flow of capital coming into the reinsurance market as a direct threat to their existing portfolios, according to Willis Re, the reinsurance broking arm of Willis Group Holdings.

The Willis Re 1st View April Renewals Report, entitled "Capital Overflow," notes there is cu...

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State Farm Adjusters Testify Flood Damage Obvious in Disputed Katrina Claim

State Farm adjustersFour adjusters for State Farm Fire and Casualty Co. have now testified that photographs and a 5-foot water line show Katrina's flood damage to a North Biloxi home should be undisputed.

Former adjusters Cori and Kerri Rigsby insist wind destroyed the North Biloxi home before Katrina's tidal surg...

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Seau Lawsuits Consolidated with NFL Concussion Case in Philly

NFL caseTwo wrongful-death lawsuits over the suicide of Pro Bowler Junior Seau have been consolidated with NFL concussion litigation in Philadelphia.

A key hearing in the NFL case is set for next week, when lawyers for thousands of former players will try to keep the issue in federal court. The league wants the claims h...

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Willis Acquires Prime Professions Ltd.

Willis acquisitionWillis Group Holdings Plc, the global risk adviser and insurance broker, has further enhanced its offering in the executive risk market by agreeing to acquire, through its subsidiary Willis Limited, PPH Limited and its subsidiary Prime Professions Limited (together referred to as Prime Professi...

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Great American Insurance Group Launches Professional Liability Division

Great American Professional LiabilityGreat American Insurance Group is pleased to announce the launch of a new Professional Liability Division. 

This Division will offer Errors and Omissions (E&O) liab...

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Fireman’s Fund Announces New Short Term Event Program

Firemans FundFor nearly a century, Fireman's Fund Insurance Company has been a leader in insuring major entertainment events and productions.

Now, the company is offering protection for smaller special events with...

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AIR Worldwide Announces New Public Risk Services Group

Air WorldwideCatastrophe modeling firm AIR Worldwide (AIR) today announced the availability of Public Risk Services, a new consulting service to support the needs of public sector institutions and stakeholders charged with managing catastrophe risk. John W. Rollins, FCAS, MAAA, vice president at AIR Worldwide, will hea...

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