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  • UK (re)insurers have just one week left to ensure they have taken adequate steps to comply with the anti-corruption laws due to come into force on 1 July.
  • Kamp Re 2005, Zurich Financial Services' (ZFS) catastrophe bond, hit by losses from Hurricane Katrina soon after its launch, is due to be tested within the next month, after the bond's administrators finally filed a proof of claim notice on 30 October.
  • Fittingly, on the day Guy Carpenter and Amlin announced the completion of the London market’s first paperless claim (see story 18), Lloyd’s CEO Richard Ward reaffirmed his commitment to seeing all claims transacted electronically by the end of 2007.
  • Beleaguered bond insurer Security Capital Assurance (SCA) has lost a legal battle with investment banking giant Merrill Lynch & Co over its obligations of up to $3.1bn on credit default swaps (CDS).
  • Insurance giant QBE has appointed the CEO of its Australian business, Terry Ibbotson, as its first global head of distribution.
  • The brokers working to achieve peer-to-peer initiatives with the “gang of six” Lloyd’s underwriters have been revealed as Aon, Benfield, Willis and Marsh. The “gang of six”, or G6, is the breakaway group of powerful insurers which has combined with...
  • Alpha Natural Resources (ANR) has agreed to pay $209mn to settle civil and criminal penalties imposed by Federal prosecutors relating to the April 2010 explosion at the Upper Big Branch mine in West Virginia.
  • Marsh Inc has parted company with William (Bill) Malloy, its president and former head of its Europe operations, after making his role redundant, The Insurance Insider can reveal.
  • Munich Re says it will limit or exclude contingent business interruption (CBI) cover from reinsurance treaties within 18 months if its clients do not provide full transparency on their supply chain or come up with plans to replace their key suppliers in the event of a disaster.
  • Standard & Poor's has warned losses from tornadoes that hit Missouri late last month could impact the rating on Mariah Re, the thunderstorm cat bond issued by American Family Mutual Insurance last autumn.