Articles by Andrew G. Simpson

House Committee Adds 5 More Bills to Its Flood Insurance Reform Package

The House Financial Services Committee advanced five flood insurance proposals on Wednesday, adding to the two bills it passed last week. The House measures seek to reform and reauthorize the National Flood Insurance Program (NFIP), which is set to expire …

U.S. P/C Insurance Industry Keeps Quiet on Trump Exit from Paris Climate Accord

The U.S. property/casualty insurance industry, which has been facing rising claims bills for extreme weather events, mostly reacted with silence to President Donald Trump’s decision to withdraw the country from the Paris climate change accord. The American Insurance Association (AIA), …

House Committee Advances 2 Flood Insurance Bills; More to Come

The House Financial Services Committee on Thursday passed two bills to reform the National Flood Insurance Program (NFIP). One is a broad reform proposal that seeks to encourage more private insurance and move the program toward actuarial-based rates, while the …

House Panel Gets Down to Business on Flood Insurance Proposals

House lawmakers are weighing seven proposals to renew and reform the federal flood insurance program, an area where there is a good amount of bipartisan agreement that something should be done and even on what to do. The House Financial Services …

XL Catlin’s O’Malley Moves to StarStone to Lead Cargo Unit in London

Global specialty insurer StarStone has appointed Rod O’Malley as of head of cargo in London. O’Malley is joining StarStone in from XL Catlin, where he most recently served as head of the UK cargo team and senior class underwriter. He …

Main Street America Promotes Gaynor to Chief Underwriting Officer

The Main Street America Group has promoted Dan Gaynor to senior vice president, chief underwriting officer. Gaynor, who has been the super-regional property/casualty insurance company’s vice president of commercial lines since 2011, will now oversee commercial lines and personal lines. …

U.S. P/C Insurance Industry Mostly Silent on Trump Exit from Paris Climate Accord

The U.S. property/casualty insurance industry, which has been facing rising claims bills for extreme weather events, mostly reacted with silence to President Donald Trump’s decision to withdraw the country from the Paris climate change accord. While corporate leaders from finance, …

Hamilton Re Raises $65M to Fund Special Purpose Vehicle Turing Re

Hamilton Re, the Bermuda-based operations of Hamilton Insurance Group, has established its first special purpose vehicle, Turing Re Ltd., which will provide collateralized capacity for Hamilton Re’s global reinsurance portfolio. Hamilton Re said Turing Re has been funded with $65 …

Inland Marine Underwriters Association Elects Leadership

The Inland Marine Underwriters Association (IMUA) has approved its 2017 slate of officers, with William Rosa, XL Catlin Re, being re-elected the association’s chair. Also re-elected were Richard Pye, QBE North America, as deputy chair and Bruce Jervis, Chubb as …

U.S. Appeals Court Upholds Dismissal of Zoloft Lawsuits Against Pfizer

The Third U.S. Circuit Court of Appeals in Philadelphia upheld a lower court’s dismissal last year of more than 300 product liability suits against drug maker Pfizer over its antidepressant Zoloft. The lawsuits alleged that Zoloft was responsible for birth …