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Tropical Storm Heads to Mexico’s Western Coast

With just about a month left in the eastern Pacific’s hurricane season, Mexico is once again the target of a tropical system on its western coast. The latest system, Tropical Storm Vance, was drifting west in the Pacific Ocean with … Continue reading

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A.M. Best Upgrades Rating of Greenlight Reinsurance Ireland

A.M. Best has upgraded the financial strength rating (FSR) to A (Excellent) from A- (Excellent) and the issuer credit rating (ICR) to “a” from “a-” of Greenlight Reinsurance Ireland Limited. Concurrently, A.M. Best has affirmed the FSR of A (Excellent) and the ICR … Continue reading

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Best Revises Outlook for Union Insurance in United Arab Emirates

A.M. Best has revised the outlook to positive from stable for the issuer credit rating (ICR) of Union Insurance Company P.S.C. (Union) (United Arab Emirates). At the same time, A.M. Best has affirmed the financial strength rating (FSR) of B++ (Good) and the … Continue reading

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The Hartford Offers Safety Rewards, Discounts for Commercial Auto

The Hartford is offering small and midsize businesses the opportunity to receive commercial auto insurance premium discounts and rewards for safety. The company has also expanded its quoting system for agents and brokers to include small commercial auto coverage. The … Continue reading

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Hackers Probing Financial System’s Defenses Show Why Everyone Should Worry

Hackers are testing the financial system’s cyber defenses, and they can boast of some alarming success. Let’s start with what we know. JPMorgan Chase Co. (JPM) says a breach of its computer systems exposed the personal information of 76 million … Continue reading

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Bulls set to win midterm election

The 2014 midterm election is set to be the most expensive midterm in history. Candidates, the parties and outside interest groups are expected to spend $3.67 billion dollars beating by a nose 2010′s $3.63 billion. This year marks a dramatic … Continue reading

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Wal-Mart bringing Black Friday to Halloween weekend

Halloween weekend is shaping up to be a big event for retailers-just not for the reason you might think. Although many consumers plan to extend their Halloween celebrations past Friday, Wal-Mart (WMT) on Saturday will shift its focus from orange … Continue reading

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Shares jump, yen slumps as Bank of Japan cranks up stimulus

By Marc Jones LONDON (Reuters) – World shares jumped and the yen fell to a seven-year low against the dollar on Friday as the Bank of Japan surprised financial markets by significantly expanding its massive stimulus programme. In a rare … Continue reading

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Hanover Insurance’s Q3 Net Income Falls 10% to $55M

The Hanover Insurance Group Inc. reported $54.9 million net income for its 2014 third quarter, a 10.4 percent decline compared with $61.3 million net income during the third quarter of 2013. The Worcester, Massachusetts-based insurer’s earnings were dampened by what … Continue reading

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D.C. Council Passes Bill Regulating Rideshare Firms

The D.C. Council has approved a bill that regulates popular ridesharing companies such as Uber and Lyft. The bill gained initial approval on Tuesday by a 12-1 vote. Among other things, it would require that drivers for smartphone-based vehicle-for-hire services … Continue reading

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