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  • The value of fraudulent UK insurance claims rose 30 percent to £730mn in 2008, while the number of fraudulent claims rose 17 percent against 2007 to 107,000, according to figures released by the Association of British Insurers (ABI).
  • It is an anniversary which many in the industry would be keen to forget. But on Friday 14 October, it will be one year on since the New York attorney general Eliot Spitzer rocked the insurance world with his stunning allegations against MMC.
  • Alphastar – the firm formerly known as Stirling Cooke Brown (SCB) – has until the end of this week to file overdue financials or face delisting from Nasdaq.
  • The London Market travelled further down the road to reform last week as the Lloyd’s Market Association (LMA) announced a new market repository for electronic claims files, commissioned from IT outsourcing firm Xchanging.
  • Lloyd’s has set out the cost of setting up and running its electronic risk placing system, Kinnect.
  • Amlin plc became the first Lloyd’s insurer to publicly estimate its exposures to Katrina, as it projected $110mn net of reinsurance – but shares in the group rose almost 3 percent on strong first half figures.
  • London based broker Howden has grown its Scandinavian presence by acquiring a majority interest in the Swedish broker Holm & Co.
  • Lloyd’s insurer Hardy Underwriting Group plc made a profit of almost £12mn from its 18-month investment in rival Atrium Underwriting plc, the company revealed last week.
  • Steps are already taken to ensure that the victims of Katrina have their property and healthcare claims promptly by insurers, according to Louisiana Insurance Commissioner Robert Wooley.
  • Chuck Hewitt is leaving Benfield to join rival Guy Carpenter – the second senior executive to make the journey in two months.