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Inside P&C’s morning summary of the key stories to get you up to speed fast. -
The firm says that, without change, firms will be downgraded in the coming weeks.
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Courts in Bermuda and the US approved the move, which had earlier been subject to investor litigation.
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Colombian authorities said that Carpenter Marsh collaborated throughout the investigation and received a 50% discount on the fine.
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The $5.5bn figure is approximately 97% of the total amount of all non-tax cash distributions that Purdue made to the Sacklers since January 1, 2008.
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The start-up said its survey shows that SPAC and de-SPAC claims would drive increasing litigation throughout 2022.
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The 30-person team move represented the latest raid from the UK-headquartered broker on Marsh McLennan.
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The broking giants did not reveal whether any money changed hands to settle the dispute over a dozen senior defections.
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Am Re claims that it underwrote reinsurance agreements on GIC Re’s behalf for 2022, but that the Indian carrier then terminated the binding authority and refuses to pay the agreed commissions.
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An examination of the costs of claims found a 21.3% increase in total costs in 2019 over 2015 when an attorney is involved.
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The Department of Insurance found various violations including operations and management, complaint handling, underwriting and rating practices, and claims handling.
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The Washington state regulator’s permanent rule to ban the use of credit scoring data for three years is turning the Washington insurance market into “chaos”, APCIA said.
