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  • The European Commission (EC) may call for an end to the practice of contingent commissions in its long-awaited final report into business insurance.
  • US insurer State Farm Fire & Casualty Co has been ordered to pay $2.5mn in punitive damages to a couple in Mississippi by a jury.
  • German reinsurer Hannover Re will listen to offers for its run-off programme business Clarendon following the sale last month of its US subsidiary Praetorian Financial Group to Australia’s QBE Insurance Group Ltd.
  • Novae Group is no longer the long-tail, liability-oriented business of the past and from 2011 will finally succeed in shaking its "long-term return on equity problem", CEO Matthew Fosh believes.
  • Amlin CEO Charles Philipps has insisted that nothing has "gone materially wrong" in the firm's business, attributing first-half losses of £192mn to the vicissitudes of the sector.
  • Catastrophe modeling firm AIR Worldwide has increased its French insured loss estimates for winter storm Klaus to between EUR500mn-EUR1bn.
  • UK regulator the Financial Services Authority (FSA) has recognised progress in pursuit of contract certainty by putting on hold work to develop rules it threatened to impose if the London market failed to meet the deadline set for the end of the 2006.
  • The European Commission's (EC) long-awaited final report into business insurance has told the industry to justify or reform its co-insurance practices.
  • An improved showing from American International Group's (AIG) P&C division helped the US insurance giant generate third quarter operating profits that were just ahead of Wall Street expectations.
  • RSA's UK chief executive Bridget McIntyre is stepping down, to be replaced by current chief operating officer Adrian Brown.