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Cooper Gay Swett & Crawford to Sell North American Business
Cooper Gay Swett & Crawford (CGSC), the U.K.-based global wholesale, underwriting management and reinsurance broking group, announced today that, following a strategic review of its group businesses, the company will pursue a sale of its North American business unit (CGSC …
Jury in Washington Awards $21.5M to Man Hurt by Cruise Ship Door
A federal jury in Seattle, Wash. awarded $21.5 million in damages to an Illinois man who was injured by an automatic sliding-glass door on a cruise ship in 2011. The verdict included $16.5 million in punitive damages. James Hausman’s attorneys …
Hub Northeast Hires Nguyen as New Business Development Associate
Hub International Northeast, a division of Hub International Limited, has hired Katie N. Nguyen as new business development associate focusing on sales initiatives for employee benefits, health insurance, disability, and life insurance. Nguyen will be based out of the firm’s …
Florida AG Won’t Fight Medical Marijuana Measure
Florida Attorney General Pam Bondi, who loudly opposed a medical marijuana measure that appeared on the 2014 ballot, is staying on the sidelines this time around. Bondi said she is still opposes the effort to legalize medical marijuana, but the …
Arkansas Sets Workers’ Comp Benefits for 2016
The Arkansas Workers’ Compensation Commission has determined that the maximum weekly workers’ comp rates for 2016 for covered accidents will be $646 for total disability (TD) and $485 for permanent partial disability (PPD). For injury or death on and after …
Everest Re Adds Inland Marine Unit to U.S. Specialty Platform
Everest Re Group, Ltd., has expanded its U.S. specialty insurance platform, Everest National Insurance Co., with the introduction of a new dedicated Inland Marine underwriting team. Everest National is pursuing a broad and comprehensive strategy in the implementation of its …
N.Y. Congressman Urges Investigation of State’s Handling of Health Republic
U.S. Rep. Chris Gibson (R-N.Y., 19th district) formally requested New York State Comptroller Thomas P. DiNapoli investigate the state Department of Financial Service’s oversight of the failed Health Republic insurance co-op. State and federal regulators decided to close Health Republic, …
XL Catlin Expands Equipment Breakdown Insurance Team
XL Catlin’s North America Property business has expanded its North America underwriting team responsible for its monoline equipment breakdown insurance. XL Catlin’s Equipment Breakdown team’s new underwriting recruits include: Amanda Hernandez in San Francisco – Hernandez has more than a …
Fraternity Files $25M Defamation Suit Against Rolling Stone
The fraternity that was the focus of a debunked Rolling Stone article about a gang rape filed a $25 million lawsuit against the magazine Monday, saying the piece made the frat and its members “the object of an avalanche of …
The Competitive Advantage: Agency Prices
Agency prices are likely at all-time highs, albeit only a handful of very specific buyers are paying such high prices. They are setting the mark making acquisitions unaffordable for many regular agencies that do not have Wall Street money or …