Category: International Insurance

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Insurer for Sandusky charity argues over legal expenses

New Jersey-based Federal Insurance Co., a subsidiary of The Chubb Group of Insurance Companies, says that any illegal acts committed by Sandusky were not committed in his capacity as an official of Second Mile

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2011 in review: The first quarter

Strong earthquakes rattled New Zealand and Japan, Economical and VC & Co. continued the battle for mutual policyholders’ votes, and other highlights from the first three months of 2011

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Official: France’s health insurance agency to file complaint in breast implant scandal

French government’s decision to pay for implant removals falls to the state health system, which estimated the removals could cost $78 million

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A.M. Best places ratings of Aviva’s Canadian subsidiaries under review with negative implications

“Aviva Canada’s ratings are inherently tied to those of Aviva plc and reflect enhancement in consideration of Aviva’s overall credit profile,” said A.M. Best

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Vehicle theft over the holidays

Once again, New Year’s Day was the leading holiday for reported vehicle thefts in 2010, according to an analysis ny NICB

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Catastrophes cost global economy a record $350 billion in 2011

2011 would have been the costliest year ever for the insurance industry if Japan had been more fully insured, says Swiss Re’s sigma team

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Sun Life to stop selling two troubled U.S. products, cuts 800 jobs

Chief executive Dean Connor said Monday that Canada’s third-biggest insurer plans to discontinue selling variable annuity and individual life policies in the U.S. starting Dec. 30

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Swiss Re CEO Stefan Lippe to retire in 2012

“Three years ago I took on the challenge of leading the company through turbulent times as CEO. Today we can say proudly that we have delivered on all of the ambitious targets that we set out at that time,” said Stefan Lippe

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U.S. sets record with a dozen billion-dollar weather disasters in one year

2011 breaks the previous record of nine billion-dollar weather/climate disasters in one year, which occurred in 2008

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Catastrophe losses doubled in 2011

A.M. Best briefing says that in first nine months of 2011, U.S. P&C cat losses doubled the total year-end 2010 losses

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Alleghany buying Transatlantic in cash and stock deal valued at about $3.4 billion

The companies said Monday that the transaction values Transatlantic at $59.79 per share in cash and stock

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Former AIG chief Greenberg’s company suing US over bailout, saying it violated Constitution

The suit says the government’s actions violate parts of the Fifth Amendment

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Allianz launches travel insurance for space tourism

Until 2004, no privately-operated manned spaceflight had occurred but now new companies are tapping into space tourism

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Insurer sues Hallmark to recover $1.8M after fire linked to snow globe destroyed Michigan home

The lawsuit, filed Nov. 2 in federal court in Grand Rapids, accuses Hallmark and a Taiwan company of negligence and product liability

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Biting coverage for Obama

“We’ve got the crocodile insurance ready to go for Michelle and the kids – 50 grand if the president does get taken.”

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Judge rejects BP’s bid to use Transocean’s insurance for Gulf spill

BP had implored the U.S. court to rule that it was covered under Transocean’s insurance policies, even though the contract between the parties stipulated that BP would assume responsibility for any spill costs

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RSA changes operational structure and executive team

RSA Canada CEO Rowan Saunders to join Global Group executive team as RSA Canada becomes its own regional division

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Thailand floods could cost insurers at least $5 billion

The flooding has impacted 64 of Thailand’s 77 provinces, affecting more than 9.9 million people with at least 427 reported dead

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RSA sees Q3 net premiums rise by 11%

“Canada has delivered excellent growth, with premiums of £1,108m up by 20% (19% at constant exchange) driven by rate increases, strong retention and the benefit of the acquisition of GCAN which contributed 10 points of the overall growth,” said RSA

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