Caribbean countries joined by outside donors and international and regional organizations established a $47 million (euro35.7 million) insurance pool this week to soften the blow from earthquakes and hurricanes. Called the Caribbean Catastrophe Risk Insurance Facility, the program grew out …
Acting New York State Insurance Superintendent Eric Dinallo announced the appointment of Mark Peters as special deputy superintendent in charge of the New York Liquidation Bureau (NYLB). Peters, the former chief of the Public Integrity Unit in Attorney General Eliot …
David Hatlem has joined Bollinger, Inc. as executive vice president of the Golf and Country Club Division. Hatlem will operate out of the Short Hills, N.J. corporate headquarters and will report directly to the firm’s chairman and CEO. Hatlem comes …
Alleging that insurers failed to pay or properly adjust claims for 200,000 policyholders in Florida by ignoring fees for rebuilding permits, a group representing homeowners has filed suits against three insurers. The Hurricane Law Group of Boca Raton, Fla., filed …
Fort Lee, New Jersey – London American Professional Liability, LLC (LAPL), a Program Administrator and MGA, introduces a new program for Accountants Professional Liability. The program is being offered in most states and is underwritten by an A XI Excellent …
New York Governor Eliot Spitzer and legislative leaders announced an agreement to reform the state’s workers’ compensation system that has the backing of business and labor. Under the agreement, benefits for injured workers will be increased for the first time …
Germany’s Hannover Re announced that “for the first time” it has “transferred the risks deriving from so-called ‘reinsurance recoverables’ to the capital markets,” following its “successful securitisations in property/casualty and life/health reinsurance business.” Reinsurance recoverables – outstanding claims held by …
A.M. Best Co. has affirmed its Syndicate Rating of “A” (Excellent) and issuer credit rating (ICR) of “a” of Lloyd’s Syndicate 1225, which is managed by AEGIS Managing Agency Ltd. The outlook for both ratings is stable. “The ratings of …
Brian Storms, Chairman and CEO of Marsh Inc, speaking at the opening of the Marsh National Oil Company conference in Dubai, told delegates: “The world’s desire for environmentally-friendly energy sources appears to be rising faster than global temperatures. This is …
France’s SCOR Group opened a new front in its bid to acquire Swiss-based reinsurer Converium (See IJ web site Feb.19). SCOR followed its acquisition of 32.9 percent of Converium’s shares with a hostile offer to acquire the remainder for around …
