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Daily NewsFlash : May 08, 2013

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Wednesday, May 08, 2013

AIG Is Cleared to Sue over BofA Mortgages

AIG-BofA suitAmerican International Group Inc. has the right to sue Bank of America Corp. over more than $7 billion of mortgage- investment losses, a federal-court judge ruled on Monday.

The judge wrote that AIG didn't give up its rig...

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Texas Senate Moves TWIA Reform Bill; PCI in Opposition

TWIAA Texas Senate panel has moved legislation designed to reform and depopulate the Texas Windstorm Insurance Association. The bill immediately drew fire from insurance industry officials.

The bill, SB 1700, sponsored by Sen. Larry Taylor, emerged from the Senate Committee on Business and Commerce on May 7.

The ...

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FEATURE: LANDY Delivers Leadership, Innovation & Commitment in Professional Liability

Landy professional liability insuranceToday we're featuring our storefront The Herbert H. Landy Insurance Agency, a recognized national leader in Professional Liability and Errors & Omissions insurance. Founded in 1949 and based in Need...

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Airline Insurance Costs Decline as Lower Crash Rates Pare Claims

Insurance for airlinesAirlines will benefit from lower insurance costs after claims declined for a third year running as reduced accident rates and increased competition among insurers keep premiums down.

Claims dropped 20 percent last year to $924 million as premiums fell 11 percent to $1.61 billion, insurance bro...

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Oklahoma Passes Bill to Make CompSource Oklahoma a Mutual Insurer

Oklahoma Workers CompOklahoma lawmakers have passed legislation that will reform the operations of CompSource Oklahoma, the states workers' compensation insurer of last resort. The renamed CompSource Mutual Insurance Co. wi...

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Aon: Earthquake Events Dominate April Natural Hazard Losses

Aon earthquake forecastingImpact Forecasting, the catastrophe model development center of excellence at Aon Benfield, today releases the latest edition of its monthly Global Catastrophe Recap report, which reviews the natural disaster perils that occurred worldwide during April 2013. Aon Benfield is the global reinsurance interm...

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Some Insurers Turn Away Variable Annuity Money

Variable Annuity MoneyIt isn't often a business says, "Thanks, but no thanks," when you try to invest more money with it.

But that is what a growing number of life insurers are saying to people who, years back, bought the retirement-income product known as a variable annuity, a tax-advantaged ...

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