Category: International Insurance

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Senate debating government subsidized crop insurance in farm bill

Not everyone in Congress wants to see the program expanded. Several senators are planning to offer amendments to limit the program, saying federal contributions to crop insurance are too generous and subsidize big agricultural businesses.

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Regulators seize banks in North Carolina, Georgia; brings this year’s US bank failures to 12

In a strong economy an average of only four or five banks close each year. The sharply reduced pace of closings shows sustained improvement.

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5 Things to Know about renting limousines or party buses, as summer festivities beckon

This article focuses on the United States, so let us know if you have any tips for renting party buses or limousines in your province; or, share your adventure with us about a limousine rental or party bus experience! ILSTV Staff As prom season, summer weddings and sunshine escapes beckon, here are some questions consumers [...]

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Berkshire Hathaway’s first-quarter profit jumped 51 per cent as its insurance companies performed well

Berkshire’s insurance companies, which include Geico and General Reinsurance, generated $901 million in underwriting profit because there were no major losses in the quarter.

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Gush of oil spill claims hit BP as deadline approaches

More than 2,200 new lawsuits from individuals, companies, and government entities seeking restitution from the 2010 Gulf of Mexico oil spill have splattered BP in the last few weeks.

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By the Numbers: Superstorm Sandy Six Months Later

Six months later, the region is still recovering and the scope of the storm has come into sharper focus. Figures are as of April 26, 2013.

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West Fertilizer Property in Texas Underinsured for Liability Coverage

The Insurance Council of Texas now estimates insured property losses are $100 million—which includes the plant.

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Liability Insurance will pay $139 Million to Settle Derivative Lawsuit in News Corp Phone Hacking Scandal

$139 million will be paid by the liability insurance for the board members!

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New York Drops Damages Claim in Suit Against Former AIG Chief

Source: PropertyCasualty360 New York’s Attorney General, Eric Schneiderman, is dropping a claim for damages in a much publicized civil lawsuit accusing the former chief executive of American International Group Inc, Maurice “Hank” Greenberg, of defrauding investors. In 2005 then-Attorney General Eliot Spitzer filed the suit against Greenberg and former AIG chief financial officer Howard Smith, [...]

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Most Americans understand flood risks, but don’t do much to protect their homes

The results of the survey are a little surprising; the Federal Emergency Management Agency (FEMA) and its National Flood Insurance Program (NFIP) identify flooding as the United States’ No. 1 natural hazard.

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Law Suit Filed Against Texas Fertilizer Plant Owner

Insurers involved in one of two lawsuits filed against Adair Grain Inc., the parent of West Fertilizer Co., are Acadia Insurance Company, Continental Western Insurance Company, and Union Standard Insurance Company and Union Standard Lloyds, according to the suit.

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What Young Agents Say About Their Career Choice

“I think the biggest challenge for me was just having people take me seriously.” Erin Atkins

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Texas Fertilizer Plant Explosion to Cause $100M in Insured Property Losses

The massive explosion at a West, Texas fertilizer plant has caused at least $100 million in insured losses to property.

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United Kingdom is the ‘Whiplash Capital of Europe’: ABI

“Eight in ten personal injury claims following road traffic accidents are now for alleged whiplash.” ABI

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U.S. Interest in Personal Gun Liability Insurance Protection Increasing

Most standard homeowners and renters policies would offer liability coverage for property damage or injuries that occur from accidental discharges of firearms, says Dr. Robert P. Hartwig, president of the Insurance Information Institute.

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Almost 95% of Hurricane Sandy Claims Closed

397,160 overall Sandy claims filed in New York with the 24 major insurers.

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Boston Marathon Bomb Victims May Turn to BAA Insurance, Central Fund for Compensation

Judging from previous catastrophes, experts say victims have an easier path if they settle with a central relief fund, rather than pursue lawsuits against governments, race sponsors or perpetrators.

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Insurance Adjusters arriving in Texas after blast at fertilzer plant

According to the Insurance Council of Texas, as many as 75 homes, a middle school, a retirement center and an apartment complex were heavily damaged by the force of the explosion

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Munich Re puts support behind prevention program in earthquake-prone region of India

Aizawl, capital of the state of Mizoram, is situated in a region highly prone to earthquakes and located in the geologically complex border area between the Indian and Eurasian Plates

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