Gregory Case News

Aon, Zurich Launch Innovative $100 Million Reputational Risk Coverage

A company’s reputation often constitutes one of its most valuable assets; however, as the damage to value, as well, as the nature of the risks that may cause it, are hard to calculate, obtaining coverage has been a complex process. …

New York Requires Agents to Reveal How Much They’re Paid

Agents Balk at Plan, But Consumer Advocates Say New Rule Doesn’t Go Far Enough New York insurance regulators have recently unveiled new regulations that will require agents to reveal to their clients how much money they get paid. The proposal, …

Business Moves

PacWest Alliance, Shaw Group The Shaw Group of Eureka, Calif., and its affiliates: Anderson, Robinson & Starkey Inc.; Shaw & Petersen Insurance Inc.; PS Insurance Inc. dba Shaw Insurance Services; and Harbers Insurance Agency Inc. are the newest members to …

Aon Acquires Major Construction Insurance Broker Allied North America

Aon Risk Services, the risk management and insurance brokerage business of Aon Corp., said it has agreed to acquire Allied North America, one of the largest independent surety and construction insurance brokerage firms in the United States. Financial terms of …

Aon, Marsh, Willis Back Lloyd’s ‘Exchange’ Modernization Plans

The three largest global insurance brokers – Aon, Marsh and Willis – have given their support to a key stage in further modernizing the Lloyd’s market by agreeing to pilot the Exchange for endorsements using the latest agreed version of …

FERMA Supports RIMS Position on Brokers Contingent Commissions

The Federation of European Risk Management Associations (FERMA) has issued a bulletin expressing concerns over a new ruling in the US state of Illinois that allows brokers to resume taking contingent commissions. The bulletin said the association supports the “stance …

New York Eases Compensation Disclosure Mandate for Producers

Agents Still Say Cumbersome Changes Will Create Problems The New York State Insurance Department this month released a new draft of a rule governing when and how insurance producers must disclose their compensation and competing quotes to customers. The latest …

New York Eases Compensation Disclosure Mandate for Producers

The New York State Insurance Department this week released a new draft of a rule governing when and how insurance producers must disclose their compensation and competing quotes to customers. The latest draft appears to be less burdensome on all …

New York Proposes Compensation Disclosure Rules for Agents

Despite earning praise from major insurance brokerages, a proposed new regimen of compensation disclosure rules for insurance producers has New York agents on edge. The draft regulations issued earlier this month include rules that establish “minimum disclosure requirements.” Those requirements …

People

American International Group (AIG) named Peter Eastwood president and CEO of Lexington Insurance Co., a unit of AIG Commercial Insurance. Eastwood assumes management responsibility for Lexington from Kevin H. Kelley, who has left the company. Eastwood joined AIG in 1991 …