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Munich Re has sold a $500 million catastrophe bond to protect two North Carolina underwriting associations against hurricane losses, as insurers increasingly choose to cover risks with bonds rather than buying traditional reinsurance.
Insurance losses for 2012s summer derecho storms in the Midwest have reached $845 million in Ohio, nearly double the Ohio Insurance Institute's initial estimate of $440 million.
Over 1,000 members of The Independent Insurance Agents & Brokers of America descend upon Washington D.C. this week to press their Congressional representatives on an agenda of issues affecting producers.
The state of Ohio is looking to appeal a court decision that would require the state workers compensation fund to reimburse employers $860 million in alleged premium overcharges from 2001 to 2007.
The state of Ohio is looking to appeal a court decision that would require the state workers compensation fund to reimburse employers $860 million in alleged premium overcharges from 2001 to 2007.
The U.S. insurance industry says a subcommittee of the International Association of Insurance Supervisors continues to encourage countries to favor a subsidiary structurea move the industry claims limits freedom of organization.
The U.S. insurance industry says a subcommittee of the International Association of Insurance Supervisors continues to encourage countries to favor a subsidiary structurea move the industry claims limits freedom of organization.
US Assure, a program administrator and insurance services provider for the property & casualty industry, will launch direct billing and a new commission payment process in late second quarter of this year.
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