HCC CEO Way Resigns at Conclusion of Stock Option Investigation

November 27, 2006

  • November 27, 2006 at 12:58 pm
    media mogul says:
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    One has to wonder how many other insurance execs are going to fall. This must be earthquake news in Houston–home of shock-city–Enron. Another lion of society, worshipped by local newspapers (prompted and reminded by paid local PR firms)bites the dust.

    Acting for the shareholders indeed! What was the point? To be able to drive 12 fancy cars instead of 6? To have 4 homes in Colorado instead of 2? Way evidently did a great job growing this company but threw it all away on petty venality…

    Hmm, I wonder if they (Way and the other guy, or HCC itself) wrote their own D&O coverage?

  • December 11, 2006 at 1:24 am
    Former Shareholder says:
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    Well, take a look at Argonaut Group (AGII). Their CEO, Watson, emulates as much of Way\’s practices as he can (from private jets to stock option deals), especially if it meant money in his pocket.

    HCC is in numerous agreements with AGII, and has been privy to inside information not otherwise disclosed to shareholders (in violation of SEC regs).

    Somebody ought to investigate AGII. It is common knowledge among his executive team (or so they tell me) that Watson often avails himself of company resources not approved by their board nor shown on his personal tax filings – including using company employees to run errands for his wife.

  • November 26, 2017 at 9:13 pm
    Kerry Pay says:
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    My husband was hired from Marsh MAC from Lloyd’s syndicate was wined/dined with private jets for overnight trip from Wiltshire Blvd. Office to Las Vegas and weekend home rentals to Palm Springs in 1980. My husband was offered job in Houston but I said no. Only 8 employees at second office in Los Angeles Wilshire Blvd.

    Remembering my past I recalled my ex-husbands boss, Stephen L. Way and discovered news stories that does not surprise me. Stephen was “show” and loved to party and my husband’s salary did not allow trying to match Stephen’s poker games & drinking.

    Insurance market should be audited because claims aren’t really paid for real total loses. Don’t buy earthquake Insurance just open gas line light a match and fire will be paid. Advice of Anthony Ivan Joseph Lloyd’s treaty broker.



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