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Divers retrieved more bodies from a South Korean ferry that sank last week, as investigators focused on whether the vessel was carrying more cargo than it was designed to hold.
Besides renewal of the current Terrorism Risk Insurance Program Reauthorization Act, the insurance industry is asking Congress to expand and clarify the law to fill gaps in certification and coverage areas.
W.R. Berkley Corp. Chairman and CEO William R. Berkley vigorously defended the companys reserving practices on an investor conference call today, stating that, if anything, the insurer leans toward being more conservative.
The cost of terrorism insurance coverage is expected to become volatile if the federal terrorism insurance backstop is not extended, and uncertainty about what Washington will do is already causing ripples in the marketplace, Marsh says in a new report.
The MGA business model has changed and become more stable since the 1990s and early 2000s, when the market entered a period of volatility due to MGAs association with the failures of multiple insurers, says a new report.
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