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Daily NewsFlash : January 31, 2013


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Thursday, January 31, 2013

Next for BP: Civil Trial Worth Billions

BP civil trial

Now that a $4 billion plea deal has resolved BP's criminal liability for the massive Gulf of Mexico oil spill nearly three years ago, the company will turn its focus to a trial that could potentially...

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Further Firming Expected in US Commercial Insurance Market in 2013: Marsh

MarshUS commercial insurance rates are expected to continue firming in many lines of business and industry sectors in 2013 as above average losses, subdued investment returns, and receding reserve releases impact insurers, according to a comprehensive report published today by Marsh. However, traditional signs of a conventiona...

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Ace's Greenberg: Fourth-Quarter Rate Increases Are Best in Years

Ace USAProperty/casualty pricing is improving in North America, and was up almost 4% in the fourth quarter, the top officer at Ace Ltd. said.

"We've had rate-on-rate increases for the second quarter in a row, and firmly expect this to continue," said Evan G. Greenberg, chairman and chief executive officer, during a confe...

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D&O Pricing in U.S. Began to Firm in 2012

Directors and officers pricingUS directors' and officers' (D&O) pricing was up 3.3 percent in the fourth quarter of 2012 as the market finally showed signs of turning after 10 years of falling prices, Marsh said in a US market review.

"The...

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Exposures at East Coast Ports and Terminals Could End Up with Record Post-Sandy Supply Chain Losses

Supply ChainThe aftermath of Hurricane Sandy has driven home the financial exposures to disruptions in critical supply chains.

Don Harrell, senior vice president of marine for Liberty International Underwriters, estimates that totali...

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New Study Shows Car Insurers Ad Spending Keeps Surging, But Number of Motorists Switching Not Rising

Auto insurance spendThe money car insurers spend on their ubiquitous advertising campaigns is breaking records annually--yet the industry's billions are chasing fewer drivers who actually shift their business, according to a new study.

About 9% of auto policyholders, representing annual premiums of $12 billion,...

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Willis ILS Report: 2012 Sees Second Strongest Catastrophe Bond Issuance on Record

Willis cat bondsLast year saw the second highest level of catastrophe bond issuance on record signaling strong growth in the market, according to Willis Capital Markets & Advisory (WCMA), part of global insurance broker, Willis Group Holdings.

At year end $5.9 billion of catastrophe bonds had been issued, represent...

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Space Shuttle Endeavor Showcased at Insurance Industry Charity Event

IICFThe Insurance Industry Charitable Foundation will host its ninth Annual Club100 Dinner - The New Frontier, sponsored by Chubb & Son. Club100 will take place Thursday, March 21, 2013 at the Samuel Oschin Space Shuttle Endeavour Display Pavilion at the California Science Center in Los Angeles, California and will unite...

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