Chubb Group of Insurance Companies and Travelers will no longer participate as partners on co-surety bonds with American International Group, according to a Marsh brokerage executive.
That news emerged during a telephone conference call held today by Marsh to provide an update on the global commercial insurance market in light of the turmoil in the financial markets.
Mark Nickel, who is with Marsh's surety practice, said Travelers is not willing to participate on co-surety on any bonds not approved by last Friday 19.
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