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  • Financial Institutions professional liability, a sector that has been decimated with higher than expected claims and coverage disputes in recent years, is to receive a new policy wordings form, courtesy of the Lloyd’s Market Association (LMA).
  • Insurance giant Zurich Financial Services (ZFS) has poached Mario Vitale from broker Willis to head up its Global Corporate North America Operations.
  • European brokers' association the European Federation of Insurance Intermediaries (Bipar) has signed a transparency protocol with risk managers trade body the Federation of European Risk Management Association (FERMA), suggesting that brokers should fully inform clients of their remuneration packages - but only if asked.
  • London’s company market insurers have expanded their underwriting exposures in the wake of the improved rating environment, according to figures released from the representative body, the International Underwriting Association.
  • US insurance giant The Chubb Corporation has received approval from the Chinese authorities to turn its Federal Insurance Company from a Shanghai branch to a wholly owned insurance subsidiary.
  • Provisional liquidator Grant Thornton last week announced creditor approval for its proposed UIC Insurance Company Limited scheme of arrangement that looks set to boast the rare distinction of paying out more than 100p in the £1. If the scheme is...
  • Bermudian giant ACE Ltd has sought to reassure investors over the potential exposure of its investment portfolio to the sub-prime fallout.
  • Bermudian Max Capital Group has appointed Adam Mullan as CEO of Max at Lloyd’s – the managing agent for Syndicates 1400, 2525 and 2526 – as it looks to build out its Lime Street platform.
  • Lloyd's insurer Heritage Underwriting Agency Ltd has urged its shareholders to reject an offer for 7.4 percent of the company's stock because it undervalues the company.
  • Under-the-cosh insurance giant AIG was facing more fallout from its errant accounting practices today when it was reported in the Wall Street Journal that a further “six or more” senior executives will be forced to leave the company in the next two weeks.