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  • Pressure for comprehensive legal reform in the US has grown with the American Bar Association (ABA) voting to back asbestos limit caps and the asbestos reform bill was introduced in the US Senate. This after President Bush called for changes to medical ma
  • Bermudian giant XL Capital reported record first quarter income of $405.5mn, or $2.26 per ordinary share, yesterday (25 March).
  • But will preliminary settlement unravel like others before it? The long-running – some might say interminable – dispute between French and US authorities over Credit Lyonnais’ allegedly fraudulent 1991 takeover of failed California insurer Executive L
  • Modelling firm Eqecat estimates that the magnitude 7.4 earthquake that struck 300km south of Mexico City overnight on 20 March will cost the insurance industry less than $100mn.
  • US insurer Markel Corp revealed last week that it has agreed to buy Thomco, a privately held programme administrator that will write over $170mn in gross premiums this year.
  • Eqecat has estimated insured losses at under $100mn from Japan's two recent aftershocks, which had magnitudes of 6.9 and 5.7 respectively
  • Trenwick Managing Agency announced last week that it had stopped writing aviation business “with immediate effect”. The firm, which is set to announce a management buyout from its distressed parent Trenwick International later this week, explained in a ma
  • The decision of the US Court of Appeals on 18 October to deem the 9/11 terrorist attacks on the Twin Towers as one event has left both sides claiming victory.
  • International Underwriting Association (IUA) member companies are submitting market placing slips to a voluntary audit in a bid to boost London’s business process reform programme.
  • The industry's total losses from sub-prime, credit crisis and liquidity related litigation could reach $16bn, according to a senior Swiss Re claims manager.