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Daily NewsFlash : July 15, 2013

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Monday, July 15, 2013

Former AIG Chairman Greenberg Files a Defamation Suit Against Spitzer

Greenberg suit against SpitzerOn the same day former New York Gov. Eliot Spitzer moved closer Friday to securing a spot on the ballot in the race for city comptroller, one of his wealthy enemies on Wall Street sued him for defamation and signaled plans to get involved in the race.

Former American International Gr...

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Total Cost of Risk Jumps 5% in 2012: RIMS Benchmark Survey

RISK SURVEYAccording to the newly released 2013 RIMS Benchmark Survey, the average Total Cost of Risk (TCOR) increased in 2012 - climbing five percent in 2012 as opposed to its increase of only 1.7 percent in 2011 - driven largely by firming market conditions. The annual RIMS survey, produced with Advisen Ltd, is a single...

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Brokers Charged in Libor Investigation

LIBORBritish fraud prosecutors on Monday filed criminal fraud charges against two former London brokers, marking an expansion of the investigation into manipulation of the London interbank offered rate, or Libor.

The U.K.'s Serious Fraud Office said it charged Terry Farr and James Gilmour, who bo...

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Insurers Consider Legal Challenge to New Oregon Pollution Liability Law; Question its Constitutionality

Pollution LiabilityInsurance groups are considering a legal challenge to Oregon's new pollution liability law that took effect in June, claiming the law would force insurers to settle active pollutio...

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McNeil & Company Enters the E&S Arena

MCNEILMcNeil & Company, a leading provider of insurance and risk management services for specialty markets, has increased its already impressive programs through the acquisition of a California based Excess & Surplus Lines Agency. McNeil purchased the business of Trinity E&S Insurance, which will operate as McNeil &am...

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Zurich Settles with California Regulators to Keep Workers' Comp Arbitrations in State

Zurich Workers Comp CAZurich American Insurance Co. is the first workers' compensation insurer to reach a settlement with California since a new law that requires insurers to keep arbitration disputes with em...

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HCC Insurance Holdings Names Parthasarathy Srinivasa as Chief Information Officer

HCC InsuranceHCC Insurance Holdings, Inc. today announced that Parthasarathy Srinivasa has joined HCC as Senior Vice President and Chief Information Officer (CIO) effective July 8, 2013, reporting to William N. Burke, HCC's President and Chief Operating Officer.

Mr. Sriniva...

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