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  • Two New York broking and insurance agent groups have filed an appeal against a judge's ruling on a law that requires brokers to disclose their incentive remuneration from insurance companies.
  • New Zealand's Earthquake Commission (EQC) has lost its case in the High Court of New Zealand over the question of how much insurance cover it provides when there are multiple disasters within a year
  • Swiss Re has urged governments to make greater use of the skills and capacity of the global (re)insurance market and warned against state participation in providing non-life insurance for natural catastrophe hazards.
  • Industry loss warranties (ILWs) are shedding their image as opportunistic purchases and are becoming part of a core reinsurance/retro placement, Willis Re executive director Henry Kingham argues.
  • Flooding from Hurricane Irene and Tropical Storm Lee has increased pressure for reform of the US National Flood Insurance Program (NFIP) just weeks before it expires.
  • The ILS market proved its flexibility in the year to June 2011, with sidecar and industry loss warranty (ILW) business expanding as public catastrophe bond issuance shrank, broker Aon Benfield Securities (ABS) said in its annual report on the sector.
  • Aon Benfield Securities (ABS) has placed a $160mn private cat bond for Japanese insurer Tokio Marine with a handful of large insurance-linked securities (ILS) fund managers.
  • Omega stock has strengthened by 12.4 percent in under a week as UK national press reports on its takeover negotiations coincided with the release of half-year figures showing a loss of $49.1mn.
  • The brutal roll-call of catastrophe losses in the first half of the year will drag the reinsurance sector's average combined ratio to 107.9 percent in 2011, according to Fitch Ratings.
  • Rates on most UK solicitors' professional indemnity (PI) business look set to rise at 1 October as the big players demonstrate a reluctance to write new risks.