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Kinnect customers grow to 15

Kinnect - the electronic platform which securely exchanges risk data and wordings between brokers and underwriters - has furthered its expansion in the Lloyd’s market by enlisting five new customers.

SSP acquires insurer system

Software Solutions Partners has announced the acquisition of European INSURE/90’s insurer systems business from Computer Sciences Corporation.

US asbestos litigation fraud alleged

United States Chamber of Commerce president and chief executive Thomas Donohue has asked the Justice Department to investigate alleged new evidence of fraud that has emerged in asbestos and silica litigation.

New management team at Herbert Smith

A new management team has taken office at city law firm Herbert Smith following the retirement of senior partner Richard Bond and leadership changes in the firm’s main practice areas. The moves coincided with the firm’s conversion to a limited liability…

FSCS sets 2005/06 levy at £160.7m

Financial Services Compensation Scheme has set its initial 2005/06 levy at £160.7m, a reduction of some £42m on forecasts made in January and a reduction of £77m on 2004/05 levy amounts.

Willis resolves commissions enquiry without a fight and $50m

Willis Group Holdings has reached a comprehensiveagreement with the New York Attorney General and the Superintendent of Insurance for New York to resolve issues raised by the industry-wide investigation into contingent commissions.

Cunninghams in ROI tie up with Aston

Cunningham Lindsey UK and Aston & Associates, based in the Republic of Ireland, are in the final stages of agreeing terms on a reciprocal arrangement for personal, commercial and casualty adjusting work.

AM Best rates Central Re

AM Best has affirmed the financial strength rating of A- (Excellent) and assigned an issuer credit rating of “a-” to Taiwan-based Central Reinsurance. The outlook for both ratings is stable.

March Japan quake third most expensive

The earthquake that hit the Japanese city of Fukuoka in northern Kyushu on 20 March 2005 was the third most expensive for earthquake insurance in Japanese history, according to the General Insurance Association (GIA) of Japan.

BIBA renews Letsure contract

BIBA has renewed its contract with Letsure to provide the BIBAlet let property insurance product range to its members.

Parliament approves law against uninsured drivers

Motorists driving illegally without insurance will face more effective on-the-road detection, and possible confiscation of their vehicles, under tough new legislation that has now been agreed by both Houses of Parliament.

Moody’s rates Scor VIE

Moody's Investors Service has assigned a Baa2 insurance financial strength rating (IFSR) to Scor VIE, the wholly-owned Life & Accident Reinsurance subsidiary of Scor which has a Baa2 IFSR. The rating outlook, in line with that of Scor, is positive.

AM Best downgrades Inter-Ocean

AM Best has downgraded the financial strength rating to B++ (Very Good) from A- (Excellent) and the issuer credit rating to “bbb” from “a-” for the reinsurance subsidiaries of Inter-Ocean Holdings.

Munich Re execs questioned on AIG link

Executives from Munich Re have met officials from the office of New York Attorney General Eliot Spitzer to discuss the company’s dealings with American International Group (AIG).

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