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Written by U.S. Insurance News
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Sunday, 20 July 2003 |
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A California Superior Court jury on July 15 returned a favorable decision for International Paper in a lawsuit brought by the company against 22 insurers. In this case, International Paper seeks indemnification from these insurers for payments resolving property owners' claims under the 1998 Judy Naef v. Masonite and International Paper class action settlement. That settlement relates to certain exterior siding products manufactured by Masonite Corporation, which was formerly owned by International. International Paper paid approximately $485 million in exterior siding claims through June 30, 2003 under the class action settlement. Of this $485 million, approximately $470 million was at issue in the California trial. |
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Written by U.S. Insurance News
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Sunday, 20 July 2003 |
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Great American Insurance Group and Accurate Background Inc. have formed a strategic partnership to help companies prevent workplace violence, theft and losses. Using the services provided by Accurate Background, Great American now has the ability to offer their clients high quality screening services at competitive prices. Accurate Background, a full-service background screening company, will be conducting various types of background screening and consultation as part of Great American's crime insurance initiatives designed to benefit Great American's insurance customers. |
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Written by U.S. Insurance News
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Monday, 14 July 2003 |
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Fidelity National Financial, Inc., a Fortune 500 provider of real estate and financial services and Fidelity National Information Solutions, Inc. announced on July 11 the terms of the merger agreement whereby FNF will acquire all of the outstanding stock of FNIS. Fidelity National Financial currently owns approximately 66 percent of the outstanding stock of FNIS. |
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Written by U.S. Insurance News
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Sunday, 13 July 2003 |
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AFLAC comes in at 120 among U.S. companies in BusinessWeek magazine's Global 1000 listing of the "world's most valuable companies." The listing appears in the magazine's July 14 issue. This is the fifth year in a row that AFLAC has been on the list, last year AFLAC was ranked 131. "We are certainly pleased with our ranking in BusinessWeek's Global 1000. Each year our goal is to continue to build our business by focusing on achieving our earnings objectives and maximizing shareholder value," said Daniel P. Amos, AFLAC Incorporated chairman and chief executive officer. |
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Written by U.S. Insurance News
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Sunday, 06 July 2003 |
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First American Title Insurance Company, one of the nation's largest title insurers and a member of the First American Corporation family of companies, announced on June 30 the acquisition of Midstate Title Company of Okemos, Mich., for an unspecified amount. The acquisition, completed May 31, 2003, adds Midstate Title's operations and personnel to The Talon Group, First American's new title division formed in February 2003. "The Talon Group was created to increase market share and expand our overall profitability in key markets," said Gary L. Kermott, president of First American Title Insurance Company. "Acquiring Midstate Title gives Talon significant traction in Michigan and is in line with our overall plan to increase our operational presence in the Midwest." |
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