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Thursday, April 25, 2013

"Terror" Threatens Insurance Payouts for Boston Businesses

Boston marathon explosionPresident Barack Obama has called last week's Boston bombings an "act of terror," but businesses near the blast site may have a vested interest in keeping that designation unofficial.

Companies could lose insurance payouts for property, lost income and other damage if the bombings a...

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West Fertilizer Blast in Texas Hits $100 Million in Insured Losses

Texas fertilizer explosionThe damage to surrounding homes and businesses caused by an explosion at a Texas fertilizer plant was estimated Wednesday to exceed $100 million, as crews continued to sift through a 90-foot-wide crater searching for answers.

The Insurance Council of Texas released its estimate afte...

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Travelers First-Quarter Results Are Up, Will Continue Price Increases

TravelersThe Travelers Companies, Inc. today reported net income of $896 million, or $2.33 per diluted share, for the quarter ended March 31, 2013, compared to $806 million, or $2.02 per diluted share, in the prior year quarter. Operating income in the current quarter was $887 million, or $2.31 per dilu...

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Everest Re Group Reports Record Earnings; 31% Growth in Operating EPS

Everest Re incomeEverest Re Group, Ltd. has reported net income of $384.3 million, or $7.50 per diluted common share, for the first quarter of 2013, compared to net income of $304.7 million, or $5.68 per diluted common share, for the first quarter of 2012. Excluding realized capital gains and losses, aft...

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Swiss Re CEO: Sees Latin America Growth Boosting Insurance Demand

Swiss ReReinsurance and insurance company Swiss Re sees Latin America markets as a growing part of its business, as it works to cover an expanding middle class, the corporate sector and governments, company chief executive Michael Lies said.

As the economies of most of Latin America post important growth rates, the Swi...

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Marsh Brings Clarity and Contract Certainty to Excess Liability Coverage

MarshMarsh has announced the availability of a new, proprietary excess liability policy form that helps minimize conflicting terms and conditions often found in carrier-specific excess policies. D...

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W.R. Berkley Announces First-Quarter Results

W.R. BerkleyW. R. Berkley Corporation reported net income for the first quarter of 2013 of $117 million, or 83 cents per share, compared with $135 million, or 94 cents per share, for the first quarter of 2012.

Commenting on the company's performance, William R. Berkley, chairm...

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New Study Finds Crash-Avoidance Systems Cut Insurance Claims

Lower auto claimsVolvo cars and SUVs with systems that brake automatically to avoid low-speed collisions have fewer fender benders and their occupants file fewer claims for injuries, according to a new study of U.S. insurance data scheduled for release Thursday.

Owners of Volvo S60 sedans and XC60 spor...

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W. R. Berkley Corporation Creates Berkley Design Professional Underwriters

Professional LiablityW.R. Berkley Corporation announced the creation of Berkley Design Professional Underwriters to focus on liability coverage for architects and engineers, nationwide. Products will be distributed through independent agents and underwritten on an admitted ba...

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