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  • Welcome to The Insurance Insider's new regular section, Courtwatch, dedicated to providing analysis on all UK litigation involving (re)insurers with a particular mandate to focus on the impact of the credit crunch…
  • Broking giant Willis has notified its errors and omissions (E&O) insurers of a potential hit as a result of litigation brought in the UK commercial courts by two of the firm’s former clients for claims totalling $508mn.
  • The much-anticipated - and somewhat delayed - European industry-wide loss index draws closer to fruition with the Swiss incorporation of PERILS AG, a firm established to aggregate European windstorm exposure and loss data.
  • Moody's Investors Service has put $67.5mn of the notes on Glacier Re’s $180mn Nelson Re cat bond on review for a possible downgrade after the (re)insurer significantly upped its Hurricane Ike loss estimates.
  • A lack of losses has caused ratings agencies to upgrade the notes on Brit Insurance's Fremantle cat swap transaction and Catlin-managed catastrophe collateralised debt obligation (CDO) Bay Haven.
  • The Lehman Brothers-induced ILS drought finally ended late February with the completion of SCOR's $200mn Atlas V catastrophe bond, and news that two more transactions from Chubb and Liberty Mutual are also in the pipe flow.
  • Directors' and officers' (D&O) liability insurance costs for the S&P financials sector increased 50 percent in the fourth quarter of 2008 compared to the same period of 2007, according to the Quarterly D&O Pricing Index released by Aon.
  • Warren Buffett told investors last month that he is determined to maintain Berkshire Hathaway's Rock-of-Gibraltar-like stability amid the raging financial storms.
  • As the debate rages over the scale of taxpayer commitments to AIG through bailouts that aggregate to an estimated $180bn, politicians have continued to question who benefits from propping up the insurance giant.
  • February was an unprecedented month for Lloyd's fundraising with four quoted insurers all raising equity finance.