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QBE Names Fagen as Group Chief Strategy Officer; Plant Is Promoted

Sydney, Australia-headquartered QBE has appointed Colin Fagen as group chief strategy officer, in a new role “designed to create a strong platform for growth across the group,” according to Group Chief Executive John Neal. Fagen is currently chief executive officer …

Geneva Association Study Analyzes Asian Flood Risks, Insurability

The Geneva Association has released a 47 page report that details the particulars of insuring the risks from floods in Asia’s “high growth” markets. “In Asia, the insurance protection gap is yawning particularly widely,” the study concludes. “Less than 10 …

AXIS Reports Q2 Net Income of $63M, Compared to $191M in Q2 2014

AXIS Capital Holdings Limited reported net income available to common shareholders for the second quarter of 2015 of $63 million, or $0.63 per diluted common share, compared with $191 million, or $1.79 per diluted common share, for the second quarter …

Insurers Warned to ‘Think Before You Snap’ as Florida Drone Privacy Law Takes Flight

The new Florida drone privacy law could have some unintended consequences for insurers looking to use or insure unmanned aircraft systems (UAM) technology. The Freedom from Unwarranted Surveillance Act (FUSA), which took effect in Florida July 1, prohibits a person, …

Hamilton Underwriting Limited Hires Carvey as Head of Treaty

Hamilton Underwriting Limited, the Lloyd’s managing agency of Bermuda-based holding company Hamilton Insurance Group, announced that Trevor Carvey has been hired as head of treaty. Carvey will report to Dermot O’Donohoe, chief executive officer of Hamilton Underwriting Limited. He will …

Marsh & McLennan Seeks Ways to Cut Tax as Competitors Shift to London

Marsh & McLennan Cos., the largest insurance broker by market value, is seeking ways to cut tax obligations as rivals shift to Europe, where rates are lower. “The search for tax efficiency for us started several years ago,” Dan Glaser, chief executive …

Buffett Helps Ireland’s Vhi Insurance Avoid Bailout with $99M Subordinated Loan

Irish state-owned health insurer Vhi Insurance DAC borrowed money from Warren Buffett’s Berkshire Hathaway Inc. to help avoid a bailout as the company comes under central bank regulation for the first time. Berkshire gave Vhi a 90 million-euro [$97.6 million) …

Alabama Police Department Granted Access to 2,000 Surveillance Cameras

Mobile, Ala., officials have unveiled a new public safety initiative that will allow police access to more than 2,000 surveillance cameras. AL.com reports that as of July 23, the Mobile Police Department had access to over 2,000 live security camera …

12 Injured in Kentucky Amusement Park Ride Accident

Authorities say at least 12 people were injured when a swing ride at an amusement park in Bowling Green, Kentucky, tipped over. The Daily News reports emergency officials were dispatched to Beech Bend Amusement Park around 6 p.m. on July …

Fewer Deer Equals Fewer Collisions Caused by Deer in South Carolina

Records show that collisions between vehicles and deer in South Carolina are declining. The State in Columbia reports that a review by South Carolina public safety officials shows that vehicles and deer collided more than 2,200 times in 2014. That …

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