A recent article in Lloyd’s “Market” magazine noted that Sean McGovern, General Counsel and, since February 2010, the Director of Lloyd’s North America, “loves to mess about in boats in his spare time.” As he’s now responsible for two posts, …
ACE Global Markets (AGM) announced key appointments as part of a restructuring of its Marine team in London, as follows: Mike Reynolds has been promoted to Class Underwriter for the Marine Hull and Marine Liability Account. Mike was formerly Deputy …
Accused swindler Allen Stanford may not use $100 million in a Lloyd’s of London directors and officers insurance policy to pay the lawyers defending him on charges of running a $7 billion fraud, a U.S. judge in Texas ruled Wednesday. …
The Gulf of Mexico oil spill will push up costs and reduce the number of offshore oil and gas operators in U.S. waters for a long time to come, oil company executives told an industry conference in London on Tuesday. …
A.M. Best Europe – Ratings Services Limited has affirmed the financial strength ratings of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” of Aspen Insurance UK Limited (AIUK) and Bermuda-based Aspen Insurance Limited (AIL). Best also affirmed the …
Nanotechnology is finding wider and broader use in modern technology. It is “transforming product design and innovation among manufacturers of electronics goods, textiles, cosmetics and foodstuffs as well as in other fields of materials science,” notes an article on the …
U.S. oil explorers are talking about forming a new insurance fund that would cover the costs of any future oil spill, to avoid a scenario where smaller companies are unable to drill offshore, a senior industry executive said on Thursday. …
The London Business Interruption Association (LBIA) has elected Aon’s Diane Jenkins as president for 2010/11. The LBIA aims to advance knowledge on all matters relating to business interruption and runs a series of technical lectures and education days throughout the …
A special report from A.M. Best concludes that the UK non-life market will “remain tough this year, with insurers facing diminishing prior-year reserve redundancies, low investment returns and the uncertain effects of the economic downturn on claims experience.” Best’s report …
The City of London is just emerging from the recession brought on by the financial crisis, but it’s “clear there are numerous challenges ahead if it is to retain its global importance as a center for financial services,” warns Lloyd’s. …
