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Daily NewsFlash : March 27, 2013


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Wednesday, March 27, 2013

Credit-Crisis, Mortgage and Libor Claims Keep Adding to Banks' $100 Billion Tab

LiborLarge global banks' legal tab is poised to soar beyond $100 billion as investors, insurers and municipalities pursue damages for actions tied to the mortgage meltdown, the financial crisis and the rate-rigging scandal.

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FEATURE: Insurance Agency M&As Set Record in 2012, On Track for A Strong 2013

MarshBerryLast April we spoke with Phil Trem, Vice President of Mergers & Acquisitions at MarshBerry, about the influx of agency M&A transactions and valuations that took place in 2011 and how he expected 2012 to ultimately pan out.

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Allianz Buys Turkish Insurer

AllianzAllianz SE, Europe's largest insurer by market value, is buying 94% of a Turkish insurer and will par...

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Flood Insurance to See Rate Hikes, Says FEMA Head

FEMAThe head of the Federal Emergency Management Agency says people who buy federal flood insurance need to plan for big rate hikes. FEMA director Craig Fugate says some people now paying hundreds of dollars a year could wind...

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Swiss Re Sigma Study: $77B in Insured Losses, $186 in Economic Losses

Swiss Re studySwiss Re's latest sigma study reveals that natural catastrophes and man-made disasters in 2012 caused economic losses of USD 18...

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USG Insurance Announces Launch of New York Office

USG Insurance ServicesUSG Insurance Services, Inc., a national wholesaler and MGA, is pleased to announce the expansion of operations with the addition of a new office located in Staten Island, N.Y. Joining USG in this new vent...

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Strong Owner Interest in Collector-Vehicle Salvage Shows Hobby Resiliency, American Collectors Reports

Classic carsAmerican Collectors Insurance, a national provider of insurance for collector vehicles and collectibles, noted that nearly 40 percent of Superstorm Sandy vehicle claimants have decided to purchase...

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Hiscox Launches New Counter Terrorism Team

HiscoxInternational specialist insurer Hiscox today announced the launch of a dedicated Counter Terrorism team, the first of its kind in the market.  The Group has also made several new appointments to its terrorism underwriting team.

The Hiscox Counter Terrorism team is a new in-house insight and risk manageme...

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ACE USA Announces Executive Appointments in its Global Client Executive Practice and Houston Region

ACEACE USA, the U.S.-based retail operating division of the ACE Group, today announced new executive appointments in its Global Client Executives practice and regional operations in Houston:

Pam Humphrey will assume the position of Senior Vice President and Global Client Executive for AC...

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