National News

Assurant Names Colberg as President, CEO

Specialty insurance provider Assurant Inc. has named Alan B. Colberg, as president, effective immediately, and as chief executive officer and director of the company’s board, effective Jan. 1, 2015. He succeeds Robert B. Pollock who announced his plan to retire …

Sedgwick to Acquire VeriClaim, Other T&H Units

Sedgwick Claims Management Services Inc. has agreed to acquire T&H Global Holdings, LLC and its subsidiaries that provide insurance claims services to insurance carriers, insurance brokers, corporations and public entities. The deal includes T&H subsidiaries VeriClaim Inc., VRS VeriClaim U.K. …

Export-Import Bank Short-Term Extension Looking Likely

The U.S. Export-Import Bank is likely to have its charter renewed through mid-2015 this week, even though lawmakers in both parties said on Tuesday they see the extension as a second-best solution. Most Republicans said they would support an extension …

HealthCare.gov Website Warned of Security, Privacy Risks

HealthCare.gov, President Barack Obama’s health insurance exchange, has security and privacy protection vulnerabilities, a U.S. government watchdog reported on Tuesday, nearly a year after the website’s troubled rollout. The General Accounting Office (GAO) said that despite steps taken by the …

House Passes Measure to Ease Insurance Capital Standards Under Dodd-Frank

The Federal Reserve would get more flexibility to set separate capital standards for systemically important insurance companies under legislation passed by the U.S. House of Representatives. The measure, adopted yesterday as part of a package of changes to the Dodd-Frank …

Hull to Head Surety for Willis

Global insurance and reinsurance broker Willis Group Holdings has appointed Scott Hull as executive vice president and head of Surety. Hull will be responsible for directing surety operations across Willis’ platform, with a focus on expanding surety capabilities globally. Hull …

ACP Re Completes Tower Group Merger; Personal Lines Sold to National General

After months of uncertainty, the merger of ACP Re Ltd. and struggling reinsurer Tower Group International has finally closed. Bermuda-based ACP Re and Tower announced on Sept. 12 that all regulatory approvals were in place relating to ACP Re’s acquisition …

BP Hopes Missing Comma Triggers $750 Million Transocean Spill Insurance

BP Plc, which already has paid more than $28 billion for the 2010 Gulf of Mexico oil spill, seeks to get a $750 million chunk of that back by convincing a Texas court that a missing comma may give the …

Fireman’s Fund Enhances Prestige Home Premier Product

Fireman’s Fund has unveiled new coverages and enhancements to its Prestige Home Premier product, now available in six states and filing nationwide through 2016. Homeowners in Arizona, Colorado, Connecticut, Illinois, Missouri, and Oregon are now eligible for the new product, …

The Problem with Domestic Excess & Surplus Lines Insurers

It has been more than five years since states, beginning with Illinois, began to enact laws permitting the formation and licensing of domestic excess and surplus lines insurers. To date, these initiatives have gotten very little traction in the insurance …

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