July 2008/2

Marsh has made an out of court settlement with United Insurance Brokers (UIB) over claims that the broker poached senior aviation staff, according to reports.

Insured losses from recent flooding in the US Midwest could be "as large or larger" than those recorded during the Great Flood of 1993, according to Standard & Poor's (S&P).

The US Treasury and Federal Reserve has attempted to stave off a further deepening of the credit crunch with plans for a temporary increase in a longstanding credit line for beleaguered mortgage giants Fannie Mae and Freddie Mac.

Recently launched SME online marketplace Coverzones has secured further funding with an investment from UK insurer MMA as it looks to expand its business, The Insurance Insider can reveal.