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Daily NewsFlash : November 10, 2011

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Thursday, November 10, 2011

Reinsurers Catch a Bit of Break from Cat Losses for Q3, Anxiously Waiting Full-Year Results

The year 2011 will be one of the costliest years ever for global insurers and reinsurers, but the industry got a bit of a break from costly natural disasters in the third quarter and is hoping th... Read More

KMPG Survey: Insurance Execs See Business Conditions Worse Off from Last Year

In a dramatic reversal, many U.S. insurance industry executives say business conditions in the sector have worsened compared to a year ago. Faced with continuing economic sluggishness and a rapidly... Read More

Zurich Financial Third-Quarter Profit Rises on Hedging Gain

Zurich Financial Services AG, Switzerland’s biggest insurer, posted a bigger-than-estimated third-quarter profit as lower German interest rates and a drop in U.K. equities produced a hedging ... Read More

Connecticut's AG Investigating Whether Utility Company Broke the Law with Outages

Connecticut's attorney general said Wednesday he will research whether the state's largest power utility broke any laws in its handling of outages that left thousands of people in the cold and the ... Read More

Towers Watson to Expand DriveAbility Program

With an increasing number of automobile insurers implementing usage-based insurance (UBI) products that analyze data from in-car devices (telematics), global professional services company Towers Wa... Read More

Buyer's Market Dominates Airline Industry: Willis Report

Despite ongoing global economic challenges, the airline industry continues to project a positive picture, with loss levels at a six-year low and insurance premiums trending on a do... Read More

Life Insurance Company Sues BofA Over Mortgages

Bank of America Corp and its Countrywide Financial unit were on Wednesday hit with a new lawsuit alleging fraud in the sale of residential mortgage debt to a New York mutual life insurance company.... Read More

LexisNexis to Sell P&C Insurance Software Solutions Business to Genstar Capital

LexisNexis Risk Solutions has entered into a definitive agreement to sell its P&C Insurance Software Solutions business to Genstar Capital, a San Francisco-based private equity firm, for an u... Read More

Willis Recognized for Insurance Market Modernization Drive at ACORD Awards Ceremony

In recognition of its e-Accounting implementation achievements and contribution to London Market Reform, Willis Group Holdings, the global insurance broker, picked up three awards at the recent 18t... Read More

Selective Insurance Group Announces Officer Appointments

Selective Insurance Group, Inc. announced the following appointments by its subsidiary, Selective Insurance Company of America.

Dana D. Shutters (Sparta, NJ) to vice president, Operational ... Read More


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