February 2011/4

Equity Syndicate 218's losses from its misfiring motor book are likely to reach £480mn, figures released by Equity Syndicate Management Limited suggest.

The vast cost to the (re)insurance industry of legal disputes is under challenge from a London-based launch that is promoting mediation as an alternative to the traditional route of lawyers and acrimonious litigation.

Positive reserve releases have been a strong feature of recent years, but potential volatility around claims from long-tail books of business remains a threat to the US P&C industry amid a 2009 upswing in asbestos and environmental (A&E) incurred losses.

Xchanging Insurance Services (XIS) chairman Richard Bucknall has written to the heads of several Lloyd's trades bodies to reassure them that the firm's position remains secure despite Xchanging's recent financial woes.

Proposals outlined by the UK Treasury to give incoming UK financial regulatory bodies greater freedom to act in public have drawn immediate criticism from a London law firm.

Australia's slew of catastrophes have been categorised as eight distinct events for insurance purposes by the Insurance Council of Australia (ICA).

Reported losses from the Australian flooding and Cyclone Yasi have now passed the $2.9bn mark, analysis compiled by The Insurance Insider shows.

Taking over a broker is a difficult undertaking at the best of times. The haggling over the price, the endless scrutiny of the small print, the shroud of secrecy that threatens to drop at every moment - it is a taxing and lengthy process.

Spiller steps down from Argo; Cooper Gay loses exec committee member Kinsella; Scor channels Leathem for Lloyd's venture; Katrina, 9/11 cost Lloyd's fac writers $5.2bn; Obama honours Buffett; XL gets NY tick; Aon pays Iranian fine; Chevron $8bn Amazon fine; Scor sells annuity book; BPL to Hong Kong; Way buys mining & energy underwriter; Drop-off in credit claims boosts Euler Hermes results; Platinum increases buy-back limit; London has no exposure to Bahrain cancellation; D&O litigation rise

Aon Benfield has turned down the opportunity to take part in a new revolving co-broker arrangement for Florida's state-sponsored insurer Citizens Property Insurance Corporation, saying it would jeopardise its "proprietary and confidential solutions".

The offshore energy market faces a possible $600mn loss resulting from damage to Maersk Oil's Gryphon floating production storage and offloading (FPSO) vessel in the North Sea earlier this month.

The power of public interrogation is one that we journalists know all about. We spend hours searching for the killer question that will blow the next big story wide open.