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Wednesday, June 26, 2013

Court Rules Case Against Former AIG Execs Can Continue

AIGNew York's attorney general can continue his effort to bar two former American International Group Inc. executives from participating in the securities industry or leading a public company, the state's top court said Tuesday.

The Court of Appeals ruling involves a remaining piece of a high-profile lawsuit originally...

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CFTC Expected to Recommend Civil Suit Against Former MF Global CEO Jon Corzine

civil suit against CorzineThe U.S. Commodity Futures Trading Commission is expected to recommend a civil lawsuit against former MF Global Holdings Ltd. chief executive Jon S. Corzine for his role in overseeing the now-bankrupt securities brokerage.

CFTC officials have told lawyers for Mr. Corzine the commission wou...

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2012 P&C Impairment Frequency Below Historical Average: A.M. Best

A.M. BestThe 21 financial impairments in 2012 are less than the P&C historical average impairment count of 25.8 and mark a significant decline from the 34 reported for 2011 by A.M. Best last year. It also was in stark contrast to the life/health industry's two 2012 financial impairments, which held the impairment count a...

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Climate Change Altering Insurers' Risk Assessment: Think Tank

Geneva AssociationClimate change is creating more frequent and more unpredictable extreme weather events, forcing insurers to change how they assess the risk of natural disasters hitting a specific area, the Geneva Association think tank said Monday.

"Traditional approaches, which are solely based on anal...

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Swiss Re Aims to Slash Costs and Revamp US Business

Swiss ReSwiss Re AG has concluded that in the current market it makes more sense to use its money to pay down debt rather than to invest.

The Zurich-based reinsurance giant said Monday in a prelude to its annual investors' day that it plans to reduce leverage by more than $4 billion by 2016, as it shifts focus from trying to wring r...

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Air Pollution May Have Suppressed Storms, Research Suggests

Air pollution and stormsTo the ever-growing list of ways humanity seems to have altered the earth, add another candidate: Air pollution may have had a major soothing influence on storm cycles in the North Atlantic.

Th...

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California Leads Nation Again in Vehicle Thefts

Auto theftsThe National Insurance Crime Bureau (NICB) today released its annual Hot Spots vehicle theft report and California dominates once again. Hot Spots is a per capita review of vehicle thefts from the nation's metropolitan statistical areas (MSA). NICB data is in line with preliminary FBI vehicle the...

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