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  • A UK court has ruled that insurers will have to pay compensation to thousands of people with pleural plaques, the scarring on the lung lining that indicates exposure to asbestos.
  • The integrated broking model may become a thing of the past if, as expected, the sale by Willis of its wholesale arm is repeated by the other major broking groups.
  • Former JP Morgan Chase & Co vice-chairman Donald Layton has emerged as a front-runner to replace Aon Corporation’s founding chief executive Pat Ryan, The Insurance Insider can reveal.
  • In our regular News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.
  • The world’s fourth largest insurance intermediary, Arthur J Gallagher & Co, has merged its reinsurance units and rebranded them as Gallagher RE, the company announced last week.
  • Marsh & McLennan announced that it has restructured its consulting arm Mercer Inc into two units and that its president Peter Coster would retire after spending 40 years at the firm.
  • The Indian Ocean tsunami will probably cost Lloyd’s insurers less than $500mn, the Corporation’s chairman has claimed.
  • UK insurer Royal and Sun Alliance (R&SA) is being sued by car manufacturer General Motors Corp for failing to pay millions of dollars of asbestos claims, it emerged last week.
  • The Markel Corporation has brushed aside 2004’s long list of natural catastrophes by reporting record profits for the year.
  • Fourth quarter 2004 figures from The Council of Insurance Agents & Brokers (CIAB) reveal a climate of significant softening of rates in the commercial property casualty market.