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  • Brit CEO Dane Douetil will step down from his role as the head of the group driving London market process reform at the end of the year, he announced at an Insurance Institute of London lecture today (18 October).
  • New York insurance superintendent, Eric Dinallo, is spearheading new regulation that would remove collateral requirements for the highest rated foreign and non-New York reinsurers, stating that "we cannot afford to maintain outdated and unnecessary...
  • A US court has ruled that there was "misappropriation of Gen Re trade secrets" in connection with the defection of a team of the reinsurer's senior facultative (fac) executives to Arch Capital Group in April.
  • Munich Re has launched a $260mn cat bond to cover earthquake risk for the East Japan Railway Company (EJRC), the first significant issue since the beginning of August
  • New market entrants are “critical to maintaining the attractiveness of the Lloyd’s market”, according to the Society’s Franchise Performance Director, Rolf Tolle.
  • Analysts have reacted cautiously to Munich Re's $1.3bn planned purchase of US primary insurer The Midland Company (Midland).
  • The London market has missed its 60 percent third quarter target for usage of electronic claims files (ECF) by 15 percentage points, making the year-end target of 100 percent "more challenging", said the Market Reform Group (MRG) in a statement today.
  • The recent surge in war, political violence (WTPV) and terrorism and an explosion of global business expansion, could cost businesses dear if they fail to appreciate the risks they face, a leading Hiscox underwriter in the sector has warned.
  • US property/casualty insurers are expected to pay homeowners and businesses an estimated $1.125bn for third-quarter property losses, according to preliminary analysis by ISO’s Property Claim Services (PCS) unit.
  • Bermudian reinsurer Aspen Insurance Holdings Limited is to launch a global excess casualty underwriting unit based in Dublin.