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  • The reform of the National Flood Insurance Program (NFIP) overcame a major hurdle last week after lawmakers in the US House of Representatives passed legislation aimed at overhauling the 43 year old federally run programme.
  • News Corp shareholders have amended a lawsuit accusing the Rupert Murdoch-led firm of nepotism to include accusations of poor corporate governance at the company leading to the News of the World (NoW) phone hacking scandal.
  • Capital markets may contribute $2.5bn towards insurance payments on 2011 disasters across the insurance-linked securities (ILS), industry loss warranty (ILW) and collateralised reinsurance and retro markets, according to research from sister publication Trading Risk.
  • Lloyd's insurer Talbot has seized almost £15,000 from former Arsenal goalkeeper Jens Lehmann after securing a court order in response to the player's failure to pay the premium on a contingency policy, The Insurance Insider can reveal.
  • A flurry of Lloyd's insurers are now planning to expand - or "pre-empt" in Lloyd's speak - their business in 2012 in anticipation of improving market conditions as a result of the 2010-11 cat losses.
  • Dedicated motor Syndicate Equity 218 has told Names that it is not possible to redress loss allocations across underwriting years of account to appease disgruntled investors.
  • The Lloyd's market's strong dependence on short-tail US business could backfire in the event of a major storm loss.
  • Lloyd's is still the biggest writer of excess and surplus (E&S) lines cover in the US with 20 percent of the market, despite a 5 percent fall between 2009 and 2010.
  • Validus CEO Ed Noonan views the proposed $3bn takeover of Transatlantic Re as a means of evolving from a small, high quality, cat-heavy underwriter into a diversified carrier with a big balance sheet.
  • With Validus shares trading down significantly in the aftermath of its attempt to gazump Allied World's bid for Transatlantic, it would either appear that the Bermudian's shareholders voted with their feet or that hungry arbitrageurs were enjoying a substantial piece of the action.