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  • US insurer State Farm Fire & Casualty Co has had the $2.5mn jury award of punitive damages it was ordered to pay to a couple in Mississippi for a Katrina claim reduced to $1mn.
  • Platinum Underwriters more than offset a $28.5mn hit from the earthquake in New Zealand with third-quarter reserve releases, but booked a 14 percent year-on-year drop in net income for the period to $93.7mn on sharply falling premiums.
  • The US commutation Rendez-Vous - organised by the UK run-off firm Cavell and the US run-off association AIRROC - looks set to attract more than 200 delegates to its inaugural event later this month in New Jersey.
  • Caribbean-based financial services group, Guardian Holdings Ltd (GHL) is to combine its two European motor insurance companies to create a single Gibraltar-based insurer and brand.
  • Loss estimates from the recent earthquakes and typhoon that have hit Japan continue to spread as insurers count the cost.
  • The jury has retired to consider its verdict in the trial of Gen Re and American International Group (AIG) executives over an allegedly sham finite reinsurance contract.
  • Brian O'Hara, president and CEO of Bermudian (re)insurer XL Capital announced last week that he will retire from the post in mid-2008, drawing the current chairman...
  • Lockton International is to outsource its London professional indemnity claims broking department to commercial liability claims specialist Devonshire Claims Services (DCS), The Insurance Insider can reveal.
  • John Tiner, CEO of UK regulator the Financial Services Authority (FSA) has challenged the London Market to improve contract certainty and to move to a more transparent and efficient business model.
  • "The world of specialty insurance is booming", but Lloyd's and the London Market must address inherent inefficiencies or face losing business to Bermuda and other rising competitors. These were the views expressed by industry financier Sir Laurie Magnus a