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  • The UK's Financial Services Authority (FSA) has banned three insurance executives who defrauded Markel International Insurance and QBE (Europe) in 2005 while acting as coverholders for surety bond business.
  • Buffy laments the recent madness of UK motor
  • Shore Re raises $100mn but class B notes flunk; Manning leaves Deutsche Bank; Avalon Re C notes incur $13mn loss 
  • Stanford to stand solo in criminal trial; Liquidator Vantis calls in the administrators
  • TigerRisk pips Aon; Two Marsh bid-rigging convictions quashed; Aon wins and loses; Price Forbes hires; Marsh backs Goss
  • Europe's (re)insurers have called on policymakers to recognise that the industry differs significantly from banking as tougher regulations are drawn up for the financial services sector.
  • The US Securities and Exchange Commission (SEC) has dropped its federal probe into Joseph Cassano, the former head of American International Group (AIG)'s blighted London-based Financial Products division (AIGFP).
  • The legislative gridlock that left US homeowners unable to buy or renew flood cover has been lifted after lawmakers approved a temporary reauthorisation of the National Flood Insurance Program (NFIP) to 30 September.
  • The Property Casualty Insurers Association of America (PCI) has voiced "deep concern" over potential conflicts between state regulators and the proposed Federal Insurance Office (FIO).
  • The UK emergency budget last month imposed a smaller premium tax increase than feared by commercial insurers, while cheering the industry with a series of moves that should curtail the country's deteriorating competitiveness.