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Daily NewsFlash : October 25, 2010


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Monday, October 25, 2010

PCI CEO Urges Private Sector to Lead on the Path Back to Prosperity

David A. Sampson, president and CEO of the Property Casualty Insurers Association of America (PCI), highlighted the theme of the 2010 Annual Meeting theme Politics and Private Markets: The Uncertai... Read More

Hank Greenberg's Loses Bid to Throw Out Lawsuit by NY AG Cuomo

American International Group Inc.’s (AIG) former chief executive, Maurice "Hank" Greenberg lost his bid to dismiss a suit by New York Attorney General Andrew Cuomo that alleges a fraudulent i... Read More

Title Insurers Looking to Avoid Losses Due to Foreclosure Mess

Title insurers are looking to protecting themselves from losses if courts rule that banks have played fast and loose with the foreclosure process. But people who buy foreclosed properties from bank... Read More

Reinsurance Rates Softened for Asia Pacific in 2010, Finds Guy Carpenter Report

In line with global market trends, the reinsurance market in Asia Pacific experienced the same downward pressure on rates in 2010 as most other markets, according to a new report from Guy Carpenter... Read More

NY AG Cuomo Suing Fed Ex Unit Over Classification of Independent Contractors

Alleging that classification of drivers as independent contractors illegally deprives them of legal protections workers enjoy, New York Attorney General Andrew Cuomo is suing Federal Express' groun... Read More

Fitch: U.S. P&C Insurers Retaining More Premiums in Soft Market

Fitch Ratings today released a Special Report that details its examination of U.S. property-casualty insurance companies' utilization of reinsurance. Read More

Marsh: Soft Commercial Insurance Market Continued through Q3

Soft commercial insurance market conditions persisted through the third quarter of 2010, with lower rates on average across major coverage lines, according to a new report published today by Marsh.... Read More

Swiss Re Well-Placed to Provide Substantial Capacity

Swiss Re is well placed for the upcoming 2011 renewal negotiations with its European clients. Going into this week's discussions at Baden-Baden, clients and brokers can rely on Swiss Re's leading r... Read More

Liberty Mutual Sets Hub Expansion

Liberty Mutual Group, one of Boston’s oldest corporate titans, will expand its operations in the Back Bay with a $300 million office tower and 600 additional employees, a sharp reversal of th... Read More

Insurance Industry Still Picking Up Pieces Five Years After Wilma Hit South Florida

Five years after Hurricane Wilma whipped through South Florida, the insurance industry is still picking up the pieces and dealing with new problems unrelated to the storm, and property owners remai... Read More



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