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Daily NewsFlash : October 22, 2010


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Friday, October 22, 2010

NAIC Adopts Final Medical Loss Ratio Regulations

During a joint session today, the Executive and Plenary committees of the National Association of Insurance Commissioners (NAIC) voted to adopt a model regulation containing the definitions and met... Read More

AIA Raises $17.8 Billion in Stock Shares

American International Group (AIG) raised $17.8 billion by selling shares in its Asian life insurance unit, AIA, making another substantial contribution in its efforts to pay down the huge bailout ... Read More

Travelers Reports Strong Third-Quarter Results

The Travelers Companies, Inc. reported net income of $1.005 billion, or $2.11 per diluted share, for the quarter ended September 30, 2010, compared to $935 million, or $1.65 per diluted share, for ... Read More

Fraud by Medical Providers Force New Yorkers to Pay Significantly Higher Auto Insurance Rates

Health care costs for automobile accident victims in New York increased 42 percent faster than overall medical care costs in the region over the last five years due in large part to rampant fraud b... Read More

Chartis' Passport Service Platform for Multinationals Extends E&O/PI Insurance to Additional Countries and Professional Services

Chartis announced that it has expanded its Passport service platform to enable multinationals to efficiently access locally compliant Errors & Omissions (E&O) liability / Professional Indem... Read More

Swiss Re: US Gulf Coast Could Face Average Annual Losses of Up to $23 Billion by 2030

Climate change, economic development and land subsidence risks could cost communities along the US Gulf Coast over USD 350 billion in cumulative economic losses over the next 20 years, concludes a ... Read More

Aartrijk Brand Camp Features Hands-On Team Challenge

Aartrijk Brand Camp 2010, the only branding conference specifically designed for insurance and financial marketing decision-makers, will feature a hands-on, insurance-specific team branding challen... Read More

Marsh: Risk Managers Ever-More Important in Strategic Decision-Making for Organizations

Risk managers are becoming more visible and active across their organizations and are wielding greater influence on strategic decisions, according to a senior executive at Marsh, the world’s ... Read More

Insurance Industry Volunteer Work in New York Tri-State Kicked Off This Week

A weeklong insurance community involvement campaign kicked off over this past weekend: The Insurance Industry Charitable Foundation’s (IICF) Volunteer Week.... Read More

Chubb's Q3 Results Lower

The Chubb Corporation reported that net income in the third quarter of 2010 was $572 million or $1.80 per share, compared to $596 million or $1.69 per share in the third quarter of 2009... Read More



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