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Hurricane Katrina to cost industry over 11bn

Hurricane Katrina will cost the insurance industry over 11bn, according to a Swiss Re preliminary estimate.
The reinsurer expects its own claims to be around 277m, although it points out the complexity of the damage caused by the storm and flooding means estimates have a more than usual degree of uncertainty.
Around 80 per cent of New Orleans is currently underwater and more than 1.3m homes have been left without power. Reports suggest the death toll could rise to thousands.

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Taylor leaves Origen and looks for new challenge

Origen business development director Tudor Taylor is leav- ing the firm and seeking a move elsewhere within fin- ancial services. Taylor was part of the executive team which brought together the five IFA businesses under the Origen brand and was chief executive of Wentworth Rose, Aegon UK’s first IFA acquisition in 2002. Origen says it […]

Norwich Union launches new tranche of guaranteed fund

Norwich Union is to offer a new series of its guaranteed fund, which will be available from 5 September 2005. The guaranteed fund runs for five years and invests in UK and international equities, bonds, property and cash. At launch between 40 per cent and 45 per cent of the fun will be invested in […]

Which? calls for industry to adopt list of new standards

Which? is calling on the financial services industry to sign up to a list of new standards which it says will restore confidence and avoid misselling scandals. In a consultation paper, entitled, Time For A Change, Which? has compiled standards it believes firms should abide by, such as a set of customer principles included in […]

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