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  • A lack of imagination regarding new perils, limited product offerings and restrictions on capacity mean that at least 80 percent of the perils faced by commercial organisations are not insured.
  • Lloyd's head of underwriting Tom Bolt has accused the P&C reinsurance industry of "letting itself down" on emerging risks such as contingent business interruption insurance (CBI) and not adapting to provide products or sufficient capacity to meet the needs of clients trading in the global economy.
  • Plans to name and shame firms under investigation by UK regulator the Financial Conduct Authority (FCA) have been criticised by the British Insurance Brokers' Association (Biba)
  • The global (re)insurance industry should look to deploy its excess capital by widening the market for insurance and meeting the needs of customers with profitable new products, a high-ranking panel of industry executives told the Guy Carpenter Baden Baden Reinsurance Symposium yesterday afternoon.
  • Scor CEO Denis Kessler has added his voice to the chorus of those objecting to International Association of Insurance Supervisors (IAIS) plans that could subject some heavyweight reinsurers to more onerous regulation and capital requirements
  • Maurice "Hank" Greenberg's company Starr International has been thwarted in its bid to summon Federal Reserve chairman Ben Bernanke to give evidence in a suit against the US federal government over the AIG bailout
  • The amount of flood insurance Massachusetts homeowners are legally required to buy could be capped if a bill filed last week is passed
  • The California Earthquake Authority (CEA)'s early release of the full details of its 1 January cat renewal, right down to the size of signed lines, has been one of the features of PCI in recent years.
  • The Turkish Catastrophe Insurance Pool is quadrupling its retention and buying close to 60 percent more limit as it restructures the cat treaty for its 1 November renewal, The Insurance Insider can reveal.
  • Arch Bermuda has paid the Tennessee Valley Authority (TVA) a $42mn settlement for a $50mn excess liability policy affected by one of the largest environmental disasters on the US mainland in recent years, according to a TVA spokesman