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Toyota Motor Corp., the worlds largest carmaker, called back more than 6 million vehicles to fix a range of safety defects in one of the biggest recall announcements in automotive history.
New York State's top insurance regulator has sent subpoenas to four U.S. insurance companies as part of a probe of potential sanctions violations involving Iran, a person familiar with the matter said on Tuesday.
"Heartbleed" threat circumvents security measures at Yahoo, other sites, putting sensitive information including passwords, credit card information and other data at risk for nearly a billion Internet users worldwide.
April reinsurance renewals saw significant price drops, and June renewals could see double-digit drops for Florida property-catastrophe risk, according to Fitch Ratings.
Minimizing an insurance producers E&O exposure due to an insurers insolvency has been a longstanding concern for agents and brokers. See an overview of the risks as well as tips on how to avoid them.
Automakers have recalled approximately 11 million vehicles in the U.S. so far this year. Thats already half of the 22 million cars recalled in 2013 and over one third of the 30.8 million vehicles recalled in 2004, the most recent high-recall year.
Energy companies have no insurance against major cyber attacks, reinsurance broker Willis said on Tuesday, likening the threat to a "time bomb" that could cost the industry billions of dollars.
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