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UIB settles with Marsh over poaching case
Marsh has made an out of court settlement with United Insurance Brokers (UIB) over claims that the broker poached senior aviation staff, according to reports.
14 July 2008
US wades in to shore up Fannie Mae and Freddie Mac
The US Treasury and Federal Reserve has attempted to stave off a further deepening of the credit crunch with plans for a temporary increase in a longstanding credit line for beleaguered mortgage giants Fannie Mae and Freddie Mac.
14 July 2008
NY state regulator to hold hearings on contingent commissions
The New York State Insurance Department is due to hold three public hearings starting today (Monday) on contingent commissions and compensation disclosure.
14 July 2008
Following markets put upward pressure on airline rates
Static premium rates for lead hull & liability during June disguised an underlying trend in following markets that will see many airline operators find their cost of insurance higher than last year, according to broker Aon.
14 July 2008
SCOR to make 200 redundancies in savings drive
French reinsurer SCOR has announced plans to make 200 redundancies across the group as part of the reinsurer's integration of acquisitions Converium and Revios.
14 July 2008
Step closer for US national insurance body
A sub-committee of the US House of Representatives has approved a measure that could lead to the creation of a national insurance office to remove state laws that conflict with international agreements.
14 July 2008
Natural Catastrophe insured losses in 2008 reach $13bn, says Munich Re
Insured losses from natural catastrophes so far this year have totalled $13bn in a period that will be remembered for years to come for its high natural catastrophe death toll, according to reinsurance giant Munich Re.
14 July 2008
SEC discovers 'significant weaknesses' in rating agencies
The Securities and Exchange Commission (SEC) has revealed "significant weaknesses" in ratingspractices following a 10-month investigation into rating agencies Moody's, Fitch and Standard & Poor's (S&P).
14 July 2008
Insured losses from Midwest flooding could be largest in 15 years
Insured losses from recent flooding in the US Midwest could be "as large or larger" than those recorded during the Great Flood of 1993, according to Standard & Poor's (S&P).
14 July 2008
Coverzones boosts funding as carrier invests
Recently launched SME online marketplace Coverzones has secured further funding with an investment from UK insurer MMA as it looks to expand its business, The Insurance Insider can reveal.
14 July 2008
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