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Tuesday, April 09, 2013

Fitch: Market Turn Taking Hold in U.S. Commercial Lines Insurance

Fitch RatingsU.S. commercial lines insurance underwriting performance improved moderately in the last year. Fitch Ratings' review of initial industry aggregate statutory financial results in 2012 reveals that a market turn is taking hold with a second year of material premium growth and a sign that ...

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WSI: Atlantic's 2013 Hurricane Season to Be Busy

Hurricane seasonThe 2013 tropical hurricane season could be one of the most active in years, Weather Services International said Monday.

An unusually strong jet stream pattern has increased sea surface temperatures in the North Atlantic and could increase the chances for hurricanes, WSI said. WSI forecasts 16 na...

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New Issues in Workers Compensation Pose Challenges for Casualty Actuaries

Workers CompA reworking of a key piece of the workers compensation rating formula and a New York statute that could create significant new liabilities for workers compensation insurers were among the issues discussed by a panel ...

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AIG Seeks to Bar Greenberg from Suing U.S. on Its Behalf

AIGThe American International Group (A.I.G.) already ruled out suing the federal government over its bailout during the financial crisis. Now it is asking a federal judge to stop its former chief executive from suing in its name.

The insurer has formally demanded that its onetime leader, Maurice R. Greenberg, stop purs...

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Key Hearing to Set Course for Concussion-Related Lawsuit Against NFL

NFL LawsuitMore than 4,000 former players have filed more than 200 concussion-related suits against the NFL. Years from now, juries might still be weighing those cases. But the focus now is in on federal court in Philadelphia, where a judge will decide whether the suits have the legal merit to go forward.

At this stage...

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Farmington-based InsurBanc Acquired by Connecticut Community Bank

InsurBanc soldA Farmington-based federal savings bank founded by the Independent Insurance Agents & Brokers of America is now a division of Connecticut Community Bank N.A., according to a media statement Friday.

The mission of Farmington-based InsurBanc is unchanged as it continues to provide financial products...

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Ironshore International Announces Entry into Japan Insurance Market through its Lloyd's Pembroke Syndicate

IronshoreIronshore International, a subsidiary of Ironshore Inc., announced that its Lloyd's Pembroke Syndicate has been authorized by the Japanese Financial Services Authority to offer Representations & Warranties coverage through Lloyd's Japan.

Ironshore International's M&A unit provides insurance solutions o...

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NY Regulator Pushing Other States to Broaden Force-Placed Insurance Homeowners Settlement

NY RegulatorNew York's top financial regulator is pushing other states to use the state's recent settlement with a leading provider of homeowners' insurance to distressed borrowers as a way to lower costs for consumers in other parts of the country.

In a letter to fellow insurance regulators, New York Depart...

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Aon Benfield Study: Global Reinsurer Capital Reaches Record Level of $505B at Dec. 31, 2012

AonAon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, today launches the latest edition of its Aon Benfield Aggregate (ABA) report, which analyses the financial results of the world's leading reinsurers in 2012.

Aon Benfield Analytics estimates that global reinsurer capital totaled a record...

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