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Bloomberg: Lloyds May Struggle to Exit Asset Protection Plan
Bloomberg.com 10/08

Lloyds Banking Group Plc, the U.K.’s biggest mortgage lender, may struggle to exit the government asset insurance program as it considers a rights offering to help it avoid further state aid, analysts said.

The bank has submitted a plan to the Financial Services Authority to raise 15 billion pounds ($24 billion) in a share sale, surpassing HSBC Holdings Plc’s record 12.5 billion-pound rights offering in April, said a person familiar with the matter, who declined to be identified because the talks are private. Under the plan, the lender would also sell assets to raise money.

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Study: Atlantic hurricane activity increases, includes larger storms

The hurricane seasons in the U.S. are becoming more active and are spawning stronger storms than those in the past 1,000 years, according to a study by a team of U.S. researchers. The research also found warmer ocean waters could intensify storm activity, which could worsen as climate change is expected to trigger ocean temperatures to rise. The New York Times/ClimateWire (8/13) , United Press International (8/13).
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Proposed hike for California workers' comp rate benchmark denied

California Insurance Commissioner Steve Poizner turned down a proposal from the Workers' Compensation Insurance Rating Bureau to increase the rate benchmark by 23.7%. Such a move would only include costs that could be avoided, and insurers should be "exhausting every available avenue to control costs before granting any increase to the benchmark," he said. RiskandInsurance.com
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