Programbusiness | News Archive

Daily NewsFlash : April 10, 2013

Daily NewsFlash
Share this with your colleagues and friends

If you are having issues viewing this e-mail, click here  to see it in your browser.
If you are having issues with viewing this e-mail, click here to view it in your browser.
Contact Us    |    FastMarkets    |    Forward to a friend    |    Optimize    |    Subscribe
Wednesday, April 10, 2013

Federal Jury Finds State Farm Committed Fraud in Hurricane Katrina Claims

State Farm fraudA federal jury has found State Farm Fire and Casualty Co. committed fraud against the federal government and submitted a false record to support fraud after Hurricane Katrina.

The verdict came after the eight-member jury deliberated for three hours Monday afternoon in a whistle-blower lawsuit, Rigs...

Read More

Munich Re: Climate Change Effects Increasingly Influencing U.S. Thunderstorm Losses

Muniche Re and climate changeIn 2011, the current record year, severe thunderstorms caused US$ 47bn in economic losses in the USA, i.e. about as much as a medium hurricane. From the long-term perspective also, on average severe US thunderstorm losses increased significantly from the end of the 1980s in partic...

Read More

NAPCO Report Identifies 2013 Property-Catastrophe Trends

NAPCOThe estimated $25 million in losses from Hurricane Sandy is not pushing up the price of property-catastrophe insurance, but it has highlighted insurers' concerns about catastrophic exposures in the Northeast and may lead to revised loss estimates and changes in terms and conditions, according to the Spring 2013 State of the ...

Read More

Florida Regulators Say Allianz Insurance Subsidiary Committed Fraud

AllianzFlorida regulators have filed a lawsuit accusing financial services giant Allianz of gutting a Miami property insurer, falsifying its documents and then cashing in on more than $20 million in fees as the company plunged into insolvency.

Coconut Grove-based Magnolia Insurance Company went belly up in 2010, jus...

Read More

AIG Launches New Distribution Channel for Space-Related Risks

AIG space insuranceAmerican International Group, Inc. (AIG) announced today that it has appointed Castor Aerospace LLC as its new program administrator for space-related risks. This appointment provides a new distribution channel for satellite operators, manufacturers, launch service providers, owners, end-...

Read More

American Modern Expands Yacht Program on West Coast

AMIGAmerican Modern Insurance Group (, a national specialty insurance carrier, today announced it has enhanced its yacht program in California and Washington, expanding coverage features in the base policy, repositioning endorsements as a way to increase limits, and lowerin...

Read More

Marsh: Global Demand for Transactional Risk Insurance Surges

MarshThe global transactional risk insurance market saw significant growth once more in 2012. The transactional risk team at Marsh placed a record US$4 billion of policy limits globally in 2012, a 41% increase from the previous year, and more than double 2010 placements.

The Americas was the fastest growing region for t...

Read More


For inquiries regarding submissions or markets contact:

For marketing comments or questions contact:
23172 Plaza Pointe Drive, Suite 205, Laguna Hills, CA 92653
p: 800.326.2700 | f: 800.588.4958
To ensure our daily newsflash always reaches your inbox, please click here .