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Tuesday, July 09, 2013

AIG Is Lead Insurer for Crashed Asiana Plane

AIGAmerican International Group Inc. (AIG) is the lead insurer for the Asiana Airlines plane that crashed in San Francisco Saturday, taking the largest slice of risk among a pool of insurers that sold about $100 million in insurance on the plane's

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Landmark Lloyd's of London Building Sold to Chinese

Lloyds BuildingAn innovative glass-and-steel construction designed by Richard Rogers and opened in 1986, the building had been owned by German asset management fund Commerz Real.

Commerz Real bought the building, home to the world's leading insurance market, for 231 million pounds in 2005. Lloyd's lease on ...

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Firearms Group Sues to Reverse New Gun-Control Law in Connecticut

Gun controlA national trade association for the firearms industry filed a lawsuit against Connecticut Governor Dannel Malloy and others on Monday, seeking to reverse a tough gun-control law passed in the wake of the deadly shooting at Sandy Hook Elementary School.

The National Shooting Sports Foundation (NS...

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NYSE Euronext to Take Over Libor

LIBORThe London interbank offered rate won't be owned by London much longer.

Libor, the scandal-tarred benchmark that underpins interest rates on trillions of dollars in financial contracts, is being sold to NYSE Euronext, the U.S.-based company that runs the New York Stock Exchange. The deal...

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Insurer Groups Opposed New Delaware Workers' Comp Reform Law

Workes Comp reform in DelawareDelaware Governor Jack Markell signed workers' compensation reform legislation HB 175 designed to control employers' rate increases, despite insurance industry ...

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Europe Floods Seen Costing Insurers Up to $4.5B

Swiss ReA leading insurance company says last month's floods across central Europe will likely cost insurers up to $4.5 billion.

The Elbe, the Danube and other rivers overflowed their banks in early June following persistent heavy rain, causing extensive damage in parts of Germany, the Czech Republic, Austria, Slovak...

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S&P's Lawyers Want $5 Bllion Lawsuit Thrown Out

S&P lawsuitA California judge will hear arguments Monday on whether a $5 billion civil fraud lawsuit against the credit ratings agency Standard & Poor's should be dismissed.

S&P, a unit of New York-based McGraw-Hill Cos., wants the suit filed by federal prosecutors earlier this year tossed, argu...

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