Thursday, November 20 2008

Fitch Looks at Nine Months 2008 U.S. P/C Insurance Results; Sharp Profit Decline Continues Insurance Market Business Editors CHICAGO-- --November 19, 2008--The U.S. property/casualty insurance industry experienced a sharp decline in performance in the first nine months of 2008.

CMBS market shows distress as default fears rise Business & Economy Risk premiums on commercial mortgage-backed securities have spiked in the past week, making this corner of the debt market the latest to show signs of mounting distress.

Somali pirates set dangerous trend Marine & Aviation In high seas and heavy rain, the supertanker Kasagisan was steaming through the Malacca Strait in February when it was suddenly surrounded by six small boats.

Insurance firms equate Gulf of Aden with combat zone Marine & Aviation LONDON, November 19 -- Lloyd's of London, which is a well-known insurance syndicate, has issued a new type of insurance policies for ships going by the Gulf of Aden - against the capture of the team and against the demand of a ransom.

Aviva rules out AIG acquisition for now Insurers THE chief executive of Aviva, Allan Griffiths, has ruled out buying AIG's Australian operation at present, claiming it is simply too expensive.

The Credit Crunch - Clauses To Consider This Renewals Season Reinsurance Barlow Lyde & Gilbert LLP The Credit Crunch - Clauses To Consider This Renewals Season 19 November 2008 As the credit crunch has deepened, its effects have rippled outwards.

Breaking the mold: rebuilding the synthetic stucco business laid the foundation for insurers to return to the... Risk Management Despite its rocky past and some ongoing litigation, the insurance market for synthetic stucco has gradually reshaped itself.

Physicians practicing defensive medicine Medical Malpractice dring@repub.com BOSTON - Many physicians in Massachusetts are ordering unnecessary and costly tests, procedures, referrals and prescriptions out of fear of lawsuits, a survey reports.

Lloyds Insurer Amlin Reports 7.5% Drop in Premiums Earnings Pointing to a decline in property/casualty reinsurance activity, Lloyds underwriter Amlin plc reported gross written premiums of 904.1 million pounds during the first 10 months of 2008, down 7.5% from 977.2 million for the same period last year. Renewal premiums saw an average fall of 7.8%.

A Window of Opportunity in the Sale of Environmentally-impaired Property Environmental Asset liquidation in bankruptcy cases involving real property of manufacturing companies, especially aged facilities, offers many challenges as well as significant opportunities.

EU agreement to boost supervision of insurance industry Regulation BRUSSELS, Nov 19, 2008 - EU nations reached agreement Wednesday, though not unanimously, on boosting supervision of the increasingly multinational insurance sector.

Ambac Commutes Approximately $3.5 Billion of CDO Exposure for Cash Settlement of $1 Billion Insurers Business Editors/Financial Editors NEW YORK-- --November 19, 2008-- Ambac Financial Group, Inc.

BrickStreet reports profits down $11.5 million Earnings BrickStreet Mutual Insurance Co.'s profits are shrinking. The company posted a $38.2 million profit for the first nine months of this year.

Lawyers real 'survivors' Lawsuits flow from all sides over profits, fairness, allegations of fraud and assault Liability Who's a huge fan of reality television? We suspect lawyers, who've racked up hundreds of billable hours filing suits over a variety of shows since the genre's conception. The latest to end up in court was A&E and Richard C.

Disabled man banned from suing after 400 lawsuits Liability WHETHER JAREK Molski is a crusader for the disabled or an extortionist who abused the law for personal gain, the vexatious litigant has filed his last lawsuit.