Illinois-based Arthur J. Gallagher & Co. has acquired Cornwall & Stevens Co. Inc., a property/casualty company with hub operations in Memphis, Tenn.; Atlanta, Ga.; and New York, N. Y. Established in 1898, Cornwall & Stevens handles all lines of property/casualty …
Liverpool Limited, a Bermuda-based investment partnership, which holds a one percent stake in Italian insurer La Fondiaria, confirmed reports (See IJ Website May 22) it would appeal a decision by Consob, the Italian stock market regulator, permitting a merger bid …
The Cicada Companies announced an agreement between a subsidiary, Cicada Risk Inc., and American International Group “for the integration, cleansing and feeding of multi-sourced financial data to AIG’s global reference databases used to support its risk management models and applications.” …
RI3K, the London-based reinsurance exchange, announced that it will host a conference in Brussels June 19-20, bringing together major reinsurance industry participants for a 24 hour “Think Tank” called “An Exchange of Views.” “The aim of the meeting is to …
Standard & Poor’s announced that its outlook on Japan’s non-life insurance industry remains negative following the release this week of insurers’ financial results for fiscal 2001. “Earnings continue to be pressured, while investment income remains weak due to low interest …
The Aetna Foundation announced that 15 Hartford-based community organizations will receive funding through its summer grants program, which provides academic and cultural enrichment opportunities to nearly 6,000 area students. “Aetna has a strong and long-standing commitment to the community,” stated …
Pennsylvania-based Erie Insurance Group announced that claims estimates are between $33 and $37 million as a result of the damages caused by the tornadoes, wind and hail storms that struck Maryland, Virginia, West Virginia and Tennessee in late April and …
William Hall, 65, of Oakland, surrendered to authorities on 23 counts of insurance fraud. Hall was arrested and booked into the Alameda County Jail, but later released on $10,000 bail, according to the California Department of Insurance. Hall claimed he …
A study by the Washington-based National Academy of Social Insurance revealed that California’s workers’ compensation benefits have increased 13.9 percent to $8.9 billion in 2002, signaling the end of a decline relative to wages that has occurred over the past …
Travelers unveiled two advancements for real-time transactions based on the ACORD XML standard. The company announced that it is in production with a real-time single-entry, multiple-company interface (SEMCI) capability for quoting personal auto insurance policies—enabling agents to quote an auto …
