| 1. | Buffett Says Berkshire to Be ‘Significant Factor’ in Commercial Insurance
May 6, 2013 -- Investor Warren Buffett said Berkshire Hathaway plans on growing its commercial lines insurance business quickly now that it has added four executives from American International Group (AIG). "I think you will see us ...
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| 2. | $45 Million Global Cyber Bank Theft: Who Pays the Losses?
May 10, 2013 -- In one of the biggest ever bank heists, a global cyber crime ring stole $45 million from two Middle Eastern banks by hacking into credit card processing firms and withdrawing money from ATMs in 27 countries, U.S. ...
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| 3. | Commercial Rates Up 5% in April; Berkshire Move Could Affect Market: MarketScout
May 7, 2013 -- Property, casualty and professional liability insurance rates were up five percent in April, according to MarketScout's most recent composite index. That matches the increase for March. Commercial property and workers' ...
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| 4. | Texas Plant That Blew Up Carried $1M Liability Policy
May 6, 2013 -- The Texas fertilizer plant that exploded last month, killing 14 people, injuring more than 200 others and causing tens of millions of dollars in damage to the surrounding area had only $1 million in liability coverage, ...
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| 5. | TRIA Debate Heats Up with Charge ‘Nervous Nelly’ P/C Insurers Enjoy $7B ‘Subsidy’
May 9, 2013 -- A consumer advocacy group says the property/casualty insurance industry has been getting a sweet deal worth about $7 billion as a result of the federal government's program to help pay terrorism insurance claims after ...
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| 6. | Pennsylvania Family Gets $15.6M in DUI Lawsuit
May 9, 2013 -- The family of a 7-year-old girl who was killed by a drunk driver after he left a Pittsburgh restaurant has reached a $15.6 million settlement in the case. The Pittsburgh Post-Gazette reported Tuesday that the ...
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| 7. | ACE USA Makes Executive Appointments in Casualty Underwriting
May 8, 2013 -- ACE USA, the U.S.-based retail operating division of the ACE Group, announced two executive appointments in its Foreign Casualty and Custom Casualty divisions. Alexander Wells has been appointed senior vice president ...
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| 8. | N.J. Law Requires Insurers to Provide 1-Page Summary of Homeowners Coverage
May 7, 2013 -- New Jersey Gov. Chris Christie has signed into law on Monday a bill that aims to help homeowners better understand their insurance policies. The legislation (A3642/S2502) requires homeowners' insurers to give ...
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| 9. | Flag-Stomping South Carolina Teacher Gets $85K to Not Sue
May 8, 2013 -- A South Carolina high school teacher removed from the classroom when he stomped on an American flag while discussing freedom is being paid $85,000 to avoid a legal challenge. The State newspaper obtained documents under ...
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| 10. | Washington Man Gets $1,103 Speeding Ticket in Oregon
May 8, 2013 -- A Washington state man has a hefty speeding ticket to pay after getting clocked at 130 mph on his new motorcycle in central Oregon. Sixty-one-year-old Gregory Zaser, of the wealthy Lake Washington enclave of Medina, ...
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