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12, 2015
London-Based CNA Hardy Appoints Hairsine as Head of Construction
CNA Hardy, the London-based specialist commercial insurance provider within the Lloyd’s and company markets, is pleased to announce the appointment of Caroline Hairsine as the new head of Construction. Hairsine joins CNA Hardy from Zurich Insurance, where she was a …
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12, 2015
Shanghai Asian Insurance Brokers Registered as 1st Chinese Lloyd’s Broker
Shanghai Asian Insurance Brokers Co. Ltd. (SAIB) has been registered as the first Chinese Lloyd’s registered broker. Based in Shanghai, SAIB specializes in liability insurance, special risk insurance and reinsurance, SAIB said in a statement, noting that it was insurance consultant …
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12, 2015
VTech Data Breach Highlights Risk in Connected Toys, Internet of Things
U.S. states said they will investigate a massive breach at digital toy maker VTech Holdings Ltd as security experts warned that hackers are likely to target similar companies that handle customer data. Attorneys general in the U.S. states of Connecticut …
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12, 2015
Insurance ‘Sting’ Aims to Catch Cargo Thieves During Their Busy Holiday Season
Somewhere in America, a tractor-trailer loaded with hidden surveillance equipment is parked at a truck stop or warehouse while authorities wait for thieves to steal it. No one is sure when, or even if, crooks will take it. But such …
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12, 2015
Best, Worst States for Insurance Regulation
Vermont, Utah, Iowa, Virginia and Kentucky get an “A” and North Carolina an “F” in one think tank’s annual grading of states on how they regulate the property/casualty insurance industry. The 2015 Insurance Regulation Report Card, the R Street Institute’s …
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11, 2015
Brown & Brown to Acquire Assets of MBA Insurance Agency of Arizona
MBA Insurance Agency of Arizona Inc., and Brown & Brown of Kentucky Inc., a subsidiary of Brown & Brown Inc., have entered into an agreement for the acquisition by Brown & Brown of substantially all of the assets of MBA. The parties …
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11, 2015
Report: Penn State’s Sandusky Settlements Total Nearly $93M
Penn State settled with six more victims or accusers of Jerry Sandusky, according to a new audit that puts the school’s total payout in the child sex abuse scandal at nearly $93 million. The university’s audited financial statements for the …
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11, 2015
Cross Insurance Executive Vice President Brent Cross Dies at 58
Brent Cross, executive vice president of Cross Insurance, an independent agency headquartered in Bangor, Maine, with offices throughout New England, died Nov. 26 at Mass General Hospital in Boston after a year-long battle with cancer, the agency said. He was …
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11, 2015
Anadarko’s $160 Million Fine for 2010 Gulf Oil Spill Falls Well Below What U.S. Sought
Anadarko Petroleum Corp. was ordered to pay almost $160 million for its role as part-owner of the doomed Gulf of Mexico well that in 2010 caused the biggest offshore oil spill in U.S. history. The fine was the last big …
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11, 2015
Delta Lloyd Plans to Raise $1.06 Billion in Rights Offer to Improve Capital Position
Delta Lloyd NV plans to raise as much as 1 billion euros ($1.06 billion) by selling stock in a rights offer as the Dutch insurer seeks to improve its capital to meet new regulatory standards. The sale is fully underwritten by …