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UK upper chamber debates pleural plaques bill
In a second reading of the pleural plaques bill on Friday (5 February) the House of Lords focused on controversial proposals for retrospective compensation payments to sufferers of the symptomless disease.
10 February 2010
Cataclysm required to turn US P&C market
Texas-based exchange MarketScout has warned US insurers that only a cataclysmic event can arrest a further softening of the market, which it identified in its latest January insurance index.
10 February 2010
Appeal court halts Stanford D&O defence payout
A US appeal court has halted a district judge's decision to compel payments under a directors' and officers' (D&O) policy and ordered an expedited hearing.
10 February 2010
Ward plays down NYIE fears
Lloyd's CEO Richard Ward has played down fears that a revived New York Insurance Exchange (NYIE) would harm Lloyd's.
10 February 2010
Blow to Buffett as Berkshire loses another AAA rating
Berkshire Hathaway has had its AAA counterparty credit rating downgraded a notch by Standard & Poor's (S&P) due to the "very high" risk associated with its $26bn debt-funded acquisition of railway operator Burlington Northern Santa Fe.
10 February 2010
Derivative deals and US regulator probes encircle AIG
US regulators are probing payment demands placed by Goldman Sachs Group on American International Group (AIG) before the latter's $182.3bn government bailout later in 2008.
10 February 2010
LMA to discuss Ukraine banking exposures
Political risk (re)insurers are continuing to monitor the fall-out from bank collapses in emerging economies such as Ukraine, Kazakhstan and the Middle East.
10 February 2010
‘Big three’ provide almost half of all Lloyd’s business
Despite the long tradition of independent London market wholesalers, the "big three" global brokers provide 45 percent of all Lloyd's revenues.
10 February 2010
Lloyd's strategy is ‘evolution, not revolution’
Lloyd's has never been bigger or stronger, so there was no surprise that the long-awaited three-year strategic roadmap was - in the words of CEO Richard Ward - one of "evolution, not revolution".
10 February 2010
AIG, Munich Re and Starr Tech set to take brunt of $150mn+ Kleen Energy CAR loss
American International Group (AIG) and Munich Re lead the $150mn+ construction all risks (CAR) policy for the fatal explosion at the Kleen Energy gas- and oil-fired plant on 7 February.
10 February 2010
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