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Mississippi High Court Due to Rule in Wind-Water Insurance Case

A decision is pending from the Mississippi Supreme Court in another wind vs. water case, this one involving a Pascagoula home subjected to 6.3 feet of storm surge. The National Flood Insurance Program paid Jackson County sheriff’s deputy Michael Robichaux …

FBI Gets Immunity for Wreck of Ferrari in Michigan Insurer Case

A judge has dismissed a lawsuit against the U.S. government over the wreck of a $750,000 Ferrari driven by an FBI agent, saying federal law grants immunity if property is being held by law enforcement. The wreck of the rare …

U.S. Regulators Propose Threshold for Defining Systemic Risk Firms

U.S. regulators pondering which non-bank financial firms are large enough to warrant additional oversight have proposed a $50 billion asset threshold in conjunction with levels of debt and derivatives. The Financial Stability Oversight Council on Tuesday agreed to issue for …

Ratings: RetailFirst, ANICO, Mariah Re, German Mutual, Centurion, Mt. Morris

A.M. Best Co. has assigned a financial strength rating of ‘B++’ (Good) and issuer credit ratings of “bbb+” to RetailFirst Insurance Company and BusinessFirst Insurance Company, collectively referred to as RetailFirst Insurance Group, and has assigned a stable outlook to …

New Zealand Says Oil Spill ‘Worst-ever Maritime Environmental Disaster’

Rough weather has jostled a cargo ship stuck off New Zealand’s coast and worsened its oil leak fivefold to make it the country’s worst-ever maritime environmental disaster, the government said Tuesday. Clumps of heavy oil from the Liberia-flagged Rena have …

Panel Lauds London Market’s Electronic Success

A panel of insurance market figures “were in overwhelming agreement today that London is leading the way in the global competitive market place,” said a bulletin from electronic processing firm Xchanging, who sponsored the panel discussion. The panel entitled “London …

Honda’s Thai Production Underwater as Floods Hit Japan Firms

Honda Motor Co said its Thai plant remains underwater as flooding in the center of the country worsens, closing down 4.7 percent of its global output in a disaster that is hammering other Japanese firms that have made the nation …

UPDATE: Hurricane Jova Crosses Mexico’s Pacific Coast

Hurricane Jova made landfall as a Category Two storm on Mexico’s Pacific coast late Tuesday, threatening one of the country’s busiest cargo ports and tourist resorts with high waves, heavy rain and flooding. With top winds reaching 100 miles per …

Willis Appoints Poillon Director of Investor Relations

Willis Group Holdings announced the appointment of Peter Poillon as Director of Investor Relations. He is based in New York and will report to Mike Neborak, Group Chief Financial Officer. Poillon will be responsible for developing and executing a “proactive …

Surplus Lines Execs Address Leadership, Perpetuation

Four industry leaders attempted to tackle explaining the definition of “leadership” and what it takes to be a leader, while addressing perpetuation concerns during the “Next Generation Panel Discussion: Developing the Future Leaders of Our Industry” at the annual National …

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