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Nuclear rethink

3 February 2012

This month we lead with Progress Energy's $1.9bn claim against US nuclear mutual Nuclear Electric Insurance Limited (NEIL). And guess what? NEIL isn't paying… Read more

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US nuclear mutual in $1.9bn battle

3 February 2012

The future direction of the US nuclear industry's mutual insurer, Nuclear Electric Insurance Limited (NEIL), remains unclear at the start of 2012 as the organisation faces the challenge of possibly the largest claim in its 38-year history… Read more

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Fac integral for railway boom

3 February 2012

Reinsurance of rail programmes continues to be a key focus for the direct and facultative market, with fac take-up set to increase on a number of placements, according to industry sources… Read more

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JLT South Africa in major account wins

3 February 2012

Jardine Lloyd Thompson (JLT)'s fledgling South African operation has made an impressive start during its first year up and running after securing two of the country's most prestigious accounts from its rival Aon, Inside FAC understands… Read more

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Petroplus loss ushers in 2012 credit market turmoil

3 February 2012

The warning from brokers that the global credit (re)insurance/political risk market will enter another testing period in 2012, highlighted in January's Inside FAC, has already been borne out with news of another potential $100mn loss… Read more

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Lancashire reinsurers anticipate $25mn Costa Concordia loss

3 February 2012

Lancashire is expected to take a $50mn gross loss stemming from the capsized Costa Concordia cruise ship, according to industry sources, with the fac market taking a hit of around $25mn… Read more

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Lloyd’s CEO warns of 2011 record loss burden

3 February 2012

Lloyd's CEO Richard Ward has hinted at record 2011 losses for the Society after warning that it could prove to be Lloyd's worst ever year for major cat losses… Read more

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$180mn power loss to hit US & London markets

3 February 2012

A recent fire at Xcel Energy's Sherburne County Generating Station (Sherco), is expected to cost the power market up to $180mn, Inside FAC understands… Read more

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China IPOs to cost D&O market $250mn+

3 February 2012

Underwriters of directors' and officers' (D&O) policies covering the IPOs or reverse takeovers (RTOs) of US-listed Chinese companies could face claims of more than $250mn… Read more

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Travelers wins $420mn asbestos dispute

3 February 2012

A New York Court upheld a $420.4mn ruling in favour of Travelers last week over reinsurance payments due to the insurer from complex asbestos-related cases that date back decades… Read more

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