National News

A.M. Best Lifts AIG’s Ratings ‘Under Review’ Status Following Duperreault’s Arrival

A.M. Best this week released American International Group from “under review” special scrutiny following the insurer’s bringing on industry veteran Brian Duperreault as president and chief executive officer and after reviewing recent financial data and meeting with AIG management. “AIG maintains …

AmWINS and Networked Deal Plays to Strengths of Both Firms, Execs Say

The acquisition by AmWINS Group Inc. at the end of last month of Networked Insurance Agents will achieve a number of objectives for both the Charlotte, N.C.-based global distributor of specialty insurance products and services and the California-based aggregator. Namely, …

The Hartford Names Firstenberg P/C Insurance Chief Underwriting Officer

The Hartford has named David Firstenberg as chief underwriting officer for the company’s property/ casualty insurance businesses, replacing Mo Tooker, who was recently named head of The Hartford’s Middle Market segment. Firstenberg will oversee the common underwriting framework across The Hartford’s Small Commercial, Middle Market, Specialty Commercial and Personal Lines segments, …

NOAA Updates Forecast for Atlantic Hurricane Season, Pacific’s El NIno

The Atlantic hurricane season will likely churn out an above-average 11 to 17 named storms, in part due to fading odds than an El Nino will form in the Pacific. Of storms that emerge during the six-month season that begins …

Hanover Insurance Names Zurich’s Salvatore as President of Specialty

The Hanover Insurance Group Inc., a Worcester, Mass.-based holding company for several property and casualty insurance companies, has appointed Bryan J. Salvatore as executive vice president and president of specialty, effective June 12. In this role, Salvatore will lead the …

States Move to Ban Asking Job Applicants About Past Salary

An awkward job interview question — how much did you make at your last job? — is getting banned in some parts of the country. Massachusetts, New York City and Philadelphia have passed laws that bar employers from asking applicants …

Here’s What the House Has in Mind for Revamping Flood Insurance Program

A much-anticipated House subcommittee proposal on flood insurance promises to reauthorize the National Flood Insurance Program (NFIP) for five years beyond its September 30 expiration date. The proposal would introduce reforms to put the NFIP on stronger financial footing; provide aid …

Zurich North America Combines Commercial, Specialty Products; Horgan to Head New Unit

Zurich North America is bringing its Specialty Products business together with its North America Commercial Insurance as part of a continued streamlining of operations. The company said the move will provide easier access and greater consistency across North America and …

P/C Insurance Industry Again Reports Underwriting Loss in Q1

The U.S. property/casualty industry posted a first-quarter 2017 net underwriting loss of $841.5 million, according to preliminary financial results, continuing the industry’s underwriting loss trend seen in 2016. The first-quarter loss was significantly less than the $2.0 billion net underwriting …

Liberty Mutual Appoints Dekermanji Chief Underwriter for Specialty Energy

Liberty Mutual has appointed Jessica Dekermanji as senior vice president and chief underwriting officer of the National Insurance Specialty Energy unit. Dekermanji will lead a team of underwriting, risk control and account services professionals focused on expanding products and integrating technology to …

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