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Thursday, August 01, 2013

New York's Value of Insured Coastal Exposure Greater than Florida's

New York coastlineFlorida for many years was the preeminent state for total insured value of coastal exposure, stretching deep into hurricane-prone open waters with several hundred miles of coastline in 35 counties. But,...

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U.S. Manufacturing Activity Rebounds

U.S. manufacturingU.S. manufacturers reported a big jump in activity in July, with a key index reaching its highest level in nearly two years, according to a report released Thursday.

The Institute for Supply Management said its July m...

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RMS Delivers Risk Analysis for First Ever Storm Surge Catastrophe Bond

RMSRMS, the world's leading catastrophe modeling firm, today announced that the company delivered the risk analysis for the first ever storm surge catastrophe bond, issued on July 30, 2013, through MetroCat Re Ltd.  To conduct the analysis, RMS used its North Atlantic hurricane model version 13.0, also announced today, the...

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Arthur J. Gallagher Posts Another Strong Quarter

Gallagher profitsArthur J. Gallagher & Co. reported its financial results for the quarter and six-month period ended June 30, 2013. "We had another strong quarter of organic growth and margin expansion across our global operations," said J. Patrick Gallagher, Jr., Chairman, President and CEO.

"In the second quarter, our ...

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NCIB: Mercedes-Benz Leads in Luxury Car Theft

NCIBMercedes-Benz vehicles were the most sought-after luxury brand among car thieves from 2009 through 2012, with the New York City region having the most thefts, an insurance-industry group said.

More Mercedes C-Class cars, a total of 485, were stolen during the period than any other luxury model, according to a repo...

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Farmers Insurance Freshens Its Logo, Keeping Sunrise and Shield

New Farmers logoFifty-five years is a good run for any corporate logo, but now Farmers Insurance is replacing its old mark with a new one-keeping several of the original design elements but giving it a sleeker, more contemporary look.

The company's first logo, unveiled upon its founding in 1928, feature...

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GC Securities Completes First of its Kind Catastrophe Bond for Metropolitan Transportation Authority

GC Securities MTAGC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/NFA/SIPC, today announced the placement of the Series 2013-1 Notes, with notional principal at $200,000,000, through a newly formed catastrophe bond shelf program, MetroCat Re Ltd., to benefit First Mutu...

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Reinsurers Evolving to Meet Challenge of Alternative Capital

ReinsurersThe drop in catastrophe bond pricing has put pressure on traditional property catastrophe reinsurers, which are responding by increasing their participation with third-party capital and insurance-linked securities.

"Providers of catastrophe reinsurance are finding themselves challenged by a ren...

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Zurich Insurance Relocating its Chicago Office

Zurich moves Chicago officeZurich North America announced today it will relocate its Chicago office to 300 South Riverside Plaza to accommodate its downtown-based employees. Its new Chicago office space to be located on the 20th and 21st floors is within a LEED-certified building that aligns to Zurich's Corporate Responsibili...

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