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S&P Report Urges ‘Disaster Resilience’ with Governments for Reinsurers’ Growth

Standard & Poor’s Rating Services announced the publication of its “Global Reinsurance Highlights” to coincide with the 2014 Reinsurance Rendezvous in September. S&P described the report as providing “a detailed perspective on the market, focusing on the competitive pressures that …

Baloise of Switzerland Profit Jumps on Life Insurance Sales

Baloise Holding AG, Switzerland’s third-biggest insurer, said first-half profit jumped 43 percent, boosted by earnings from life insurance. The shares rose on expectations for a higher dividend. Net income increased to CHF349.9 million ($383 million) from CHF244.8 million [$268 million] …

Dutch SNS Reaal Expects Wide Interest for Insurance Division Sale

SNS Reaal, the Dutch financial services group nationalized last year, said international and domestic parties had expressed interest in its insurance operations which will go up for sale in September. The comments came as the financial services group, which was …

Munich Re Joins Broker Steadfast to Acquire Australia’s Calliden Insurance Operations

Munich Re’s primary insurance subsidiary Great Lakes Australia (GLA) has reached an agreement to support Australia’s largest broker network, Steadfast Group in their proposed acquisition of Calliden Group Ltd. Munich Re said it plans to “acquire the authorized insurer, Calliden …

‘Hot Work’ Near Tank Cited in Report on Mississippi Fish Plant Explosion

A fatal explosion at a fish processing plant on the Mississippi Coast happened when sparks ignited a volatile mixture in a tank, safety officials said this week. U.S. Chemical Safety Board Chairman Rafael Moure-Eraso said in a news release that …

North Carolina Fraternity Hazing Lawsuit Dismissed

A lawsuit stemming from the death of a former High Point University student has been dismissed against all remaining plaintiffs. The High Point Enterprise reported the case was dismissed last week against Michael Qubein, son of school President Nido Qubein. …

N.C. Authorities Announce Arrests for Alleged Insurance Fraud Schemes

North Carolina Insurance Commissioner Wayne Goodwin announced this week charges stemming from two alleged insurance fraud schemes. Authorities said Eric Delano Smith was arrested on Aug. 20 and charged with five counts of insurance fraud, four counts of obtaining property …

Mass. DOI: Insurers Received Over 1,300 Claims From Revere Tornado

The Massachusetts Division of Insurance (DOI) said the state’s insurers have so far received more than 1,300 claims from a rare tornado that ripped through the coastal city of Revere on July 28. The DOI said regulators have been collecting …

Missouri Regulators Assisting Ferguson Businesses with Property Claims

Representatives from the Missouri Department of Insurance headed to Ferguson on Aug. 27 to assist businesses that experienced damage during recent protests with filing insurance claims and to answer questions about the claims process. The department said it is encouraging …

NYC Fire Department Gets Ship Firefighting Simulator

New York City now has a simulator that reproduces the unique conditions that can arise while fighting fires aboard ships. Fire Commissioner Daniel A. Nigro is presiding over a christening ceremony Tuesday at the department’s training academy on Randall’s Island. …

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