business - "insurance"

EMC insurance Group Inc. says Midwest storm losses will reduce its profit for the year.

Tesco personal finance has launched Finest Home insurance, an enhanced level of cover which offers protection to homeowners looking for higher sums insured.

New research from Gocompare.com has revealed that a significant number of people buying their home insurance from their mortgage lender said that they felt pressured to do so.

New York insurance Superintendent Eric Dinallo is enlisting experts to examine the possibility of reviving the New York insurance Exchange, which was seen as the U.S. equivalent of the Lloyd's of London market when it was founded to great fanfare in 1980.

RICHMOND, Va.----Stephen J. Vaccaro, Jr., President and Chief Executive Officer of Max Specialty insurance Company, an excess and surplus lines company headquartered in Richmond, Virginia, today announced that, with the addition of Colorado, Max Specialty is now an eligible surplus lines insurer in a total of 48 states.

The Association of British Insurers has reported that insurers uncovered 24,000 fraudulent motor insurance claims worth GBP260 million, or GBP5 million every week in 2007.

In an effort to assist in the relief for victims of the Midwest flooding disaster, five AXA Financial, Inc. insurance companies announced today that they have relaxed the grace period for policy premiums for those impacted by the extreme storms and severe flooding in the counties declared as disaster areas by the state of Missouri.

Insurance Australia Group may consider a sale or management buyout of its underperforming British operations, a UK website said.

Fiserv, a provider of information technology services to the financial and insurance industries, has signed a definitive agreement with Trident IV, a private equity fund managed by Stone Point Capital, in which Trident will invest approximately $205 million in equity and $335 million in debt to acquire a 51% majority interest in Fiserv's insurance businesses.

Around £5m a week of fraudulent motor insurance claims were made last year, according to figures from the Association of British Insurers (ABI).