Federal Reserve Votes to Retire AIG Bailout Tool

The Federal Reserve Board on Monday approved a proposal to curb its emergency lending powers, a change demanded by Congress after the central bank’s controversial decision to aid AIG, Citigroup and others in 2008. The rule, unanimously approved by the … Read More Read more here:: Insurance Journal       

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GM Does Not Have to Turn Over Privileged Ignition Switch Documents: Judge

By Jonathan Stempel General Motors Co. and its law firm need not turn over privileged documents to drivers hoping to show that the automaker intended to commit a crime or fraud by concealing defective ignition switches in their vehicles, a Manhattan federal judge … Read More Read more here:: Insurance Journal       

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8 Lloyd’s Syndicates Aim to Help Emerging Economies Build Nat Cat Resilience

Eight Lloyd’s syndicates are joining forces to develop new solutions to help developing economies tackle underinsurance and improve their resilience against the economic impact of natural catastrophes. Emerging economies across Latin America, Africa, and Asia currently contribute 40 percent to … Read More Read more here:: Insurance Journal       

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Brazil to Sue BHP and Vale for $5.24B in Damages Caused by Burst Dam Disaster

Brazil’s federal and state governments plan to sue the owners of the Samarco iron ore miner for 20 billion reais ($5.24 billion) in damages caused by the burst of a tailings dam, Environment Minister Izabella Teixeira told reporters on Friday … Read More Read more here:: Insurance Journal       

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Delta Lloyd Plans to Raise $1.06 Billion in Rights Offer to Improve Capital Position

Delta Lloyd NV plans to raise as much as 1 billion euros ($1.06 billion) by selling stock in a rights offer as the Dutch insurer seeks to improve its capital to meet new regulatory standards. The sale is fully underwritten by … Read More Read more here:: Insurance Journal       

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USI Names Peirce Employee Benefits Leader, Producer for Mountain Region

USI Insurance Services has named Robert Peirce employee benefits leader and producer for the Mountain region. Peirce is responsible for driving revenue growth as well as managing a book of prospects and clients for USI in Colorado, Wyoming, North Dakota … Read More Read more here:: Insurance Journal       

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Virginia Approves 3.4% Overall Increase in Workers’ Comp Loss Costs

The Virginia State Corporation Commission (SCC) announced Tuesday the approval of revisions to the premium levels charged for workers’ compensation insurance in Virginia. The revisions will result in an overall average increase of 3.4 percent for voluntary market loss costs … Read More Read more here:: Insurance Journal       

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Missouri Hotel Closed after Legionnaires’ Bacteria Found

A hotel in northeast Missouri’s Hannibal is temporarily closed after health officials found evidence of the respiratory-related Legionnaires’ disease there. The Hannibal Courier-Post reports the Best Western in the Mississippi River city closed last week after state and federal health … Read More Read more here:: Insurance Journal       

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Reward Offered for Information on 86 Suspected Arsons in Louisiana

A $4,000 reward is available for information leading to the arrest of the person or persons responsible for setting 86 suspected arsons that occurred between Aug. 30 and Oct. 21 of this year. The Louisiana Department of Agriculture and Forestry, … Read More Read more here:: Insurance Journal       

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