Business Moves
Argus Fire & Casualty, Florida A Florida insurance company is on its way to closing its door as it informed agents it is going to start dropping policyholders when their policies are up for renewal. Argus Fire & Casualty, a …
Kidnapping for Ransom: A Fateful International Growth Industry
A global economy offers enormously rich rewards, along with more than enough dangerous risks. Although accurate statistics are difficult to come by, estimates indicate there are anywhere from 12,500 to 25,000 kidnappings a year worldwide. Then, depending on the source, …
Declarations
Toyota Claims Setback “Application of California law to a nationwide class, at least in some instances, would drastically expand the scope of relief available to plaintiffs (to the detriment of Toyota).” —U.S. District Judge James Selna, who said Toyota owners …
South Carolina Two-Tier Damages Cap Upheld
South Carolina’s two-tier statutory cap on damages is constitutional, the state Supreme Court has ruled. In the same ruling, however, the court found that two separate governmental entities’ negligent acts, which resulted in injuries to the plaintiffs, constituted two occurrences, …
People
Liberty Mutual Group’s Edmund (Ted) F. Kelly, 65, will retire from active management of the company on June 28. David H. Long, 50, will replace Kelly and will become president and CEO effective June 29, 2011. Kelly will continue to …
Timely Workers’ Comp Reforms
Prices for workers’ compensation insurance are inching up after decreasing and then flat-lining for the past few years, according to Towers Watson. The global professional services firm’s most recent Commercial Lines Insurance Pricing Survey (CLIPS) showed that pricing increases for …
Court Clears Michigan Storage Owner in Customer’s Death
The owner of an Ann Arbor self storage business has been cleared of liability in the death of a customer who accidentally locked himself in a car trunk. The Michigan appeals court in early June overturned a decision by a …
People
Iowa-based United Fire & Casualty Co. announced new executive appointments and the election of four new directors for full terms on its 12-member board. Denver Regional Office Underwriting Manager Jolene Grow was appointed assistant vice president of United Fire & …
Declarations
Tornado Strike “The next thing you know, the TV says a tornado hit… It’s the baddest I’ve seen.” —Bob Pashko, of West Springfield, Massachusetts commenting on the tornadoes that ravaged the Bay State earlier this month, and caused at least …
Business Moves
Gallagher, IFS Insurance broker Arthur J. Gallagher & Co. has acquired Independent Fiduciary Services Inc. (IFS), a Washington-based institutional investment advisory firm. Terms of the transaction were not disclosed. Founded in 1986, IFS provides investment consulting and other services to …