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Munich Re profits plunge after multiple disasters	Earnings
BERLIN-- A series of severe earthquakes and other natural catastrophes combined with the European debt crisis to send Munich Re's profits plunging 71 percent in 2011, the reinsurance company said Thursday.

Underpricing a Prime Cause of Impairment- A.M. Best	Industry Analysis
While the number of financial impairments of property/casualty companies continues to accelerate, analysis shows the primary cause of impairments was a combination of deficient loss reserves and inadequate pricing. P/C impairments increased to 28 in 2011 from 21 in 2010.

Validus: May Pay Up To $65M For Costa Concordia Shipwreck	Claims
Insurer Validus Holdings Ltd. said it may be on the hook for $50 million to $65 million because of the Costa Concordia shipwreck, a loss that could eclipse its payout from the widespread flooding that crippled Thailand late last year.

Advisen Did You Know: LONDON CYBER Liability Conference Tues 13 March	Did You Know
Our 13 March Cyber Liability Insights Conference will discuss Cyber, Privacy, and Security risks from a Commercial P&C view. Advisen brings together Cyber Insurance leaders in Underwriting, Claims, Brokerage and Buyers for one full working day in London. There is no charge for Risk Managers to attend.

Lawsuit seeks info, damages in 7-year oil spill	Environmental
NEW ORLEANS-- An environmental watchdog group filed a lawsuit Thursday against the company it blames for an oil spill 11 miles off the coast of Louisiana, claiming oil has been flowing into the Gulf of Mexico for more than seven years with few details about what's being done to stop it.

Pace settlement reached [Winston-Salem Journal, N.C.]	Liability
Feb. 02-- The likelihood that 423 former employees of defunct Pace Airlines Inc. will receive back wages grew Wednesday with the filing of a $1 million insurance settlement hammered out by a bankruptcy trustee and the co-owners of the company.

Who Pays for National Catastrophes?	Business & Economy
When John Fogerty musically asked "Who'll Stop the Rain?" 40 years ago, he was pondering the world's disquiet. But given the economic and insured damage from natural catastrophes that deluged the U.S. and the rest of the world in 2011, the question today is relevant and literal.

Miami U.S. Rep. Ros-Lehtinen takes aim at Holocaust-era insurer and PGA [The Miami Herald]	Regulation
Feb. 02-- A Miami congresswoman is again taking aim at a German insurer that is sponsoring a pro golf tournament in Boca Raton, urging the PGA to drop Allianz because it has refused to pay billions in life insurance claims to Holocaust survivors.

Hewlett-Packard Agrees To Recall Over 1 Million Fax Machines	Business & Economy
Hewlett-Packard Co. agreed to voluntarily recall more than 1 million fax machines in North America due to fire and burn hazards, the U.S. Consumer Product Safety Commission said.

Anticipated Federal Insurance Office Report to Be Delayed	Regulation
The release of the Federal Insurance Office's much anticipated report on the U.S. insurance industry has been pushed back by several weeks, according to a spokeswoman for the office.

Witness Says He Warned Stanford on Ponzi Plan	Business & Economy
In his first day on the stand, Mr. Davis described how Mr. Stanford had fraudulently made up insurance coverage to lure investors and had taken a blood oath with senior Antiguan bank regulators who would overlook his misdeeds and profit from them.

Companies sue over Michigan fireworks insurance	Regulation
LANSING, Mich.-- Several fireworks companies are suing over what they call Michigan's excessive insurance requirements under a new state law. The companies sued Wednesday in Detroit federal court seeking to overturn a requirement to obtain $10 million in liability insurance in order to sell an expanded line of fireworks.

Conn. man can seek payment from child's real dad	Liability
HARTFORD, Conn. Over the years, Eric Fischer had grown suspicious of whether he was really the father of his youngest daughter. The girl was the product of an affair between Fischer's wife, Pamela Tournier, and her business partner, Richard Zollino.

Super volcanoes may give plenty of warning	Environmental
Giant volcano eruptions that change global climate and even threaten to wipe out species may be predictable decades in advance, European researchers say.

Wine producers campaign for truth in labeling	Business & Economy
NAPA, California-- Napa Valley wine producers will go a long way to protect their good name, all the way to Thailand if necessary. For Napa Valley producers, the name campaign began during the late `90s on a defensive footing when producers lobbied for a 2000 state law requiring that any wine with "Napa" in its name consist of at least 75 percent Napa grapes.