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10, 2015
South Carolina-Based Marine Insurance Agencies Merge to Form New Company
Maritime Insurance, LLC and Port City Holdings, LLC dba KSA Marine Insurance, both of Charleston, S.C., have joined to create a new entity, Maritime Insurance International. The new company combines the agencies’ experience in the marine insurance industry while expanding …
2
11, 2015
As Activist Investors Circle, AIG Posts Q3 Loss; Plans to Cut 400 Jobs
American International Group Inc., the insurer facing pressure from activist shareholder Carl Icahn for a breakup, posted a third-quarter loss as investment results deteriorated. The company plans to cut as many as 400 senior- level jobs. The net loss of $231 million, …
2
11, 2015
Unusually Strong Cyclone Chapala Nearing Oman, Yemen: AccuWeather
The AccuWeather Global Weather Center has issued a report on Tropical Cyclone Chapala, which is currently gaining strength and approaching Yemen and Oman in the Arabian Sea. The two countries are “bracing for impacts,” as the storm is currently packing …
2
11, 2015
Top 25 Workers’ Compensation Insurers
The U.S. workers’ compensation market saw solid gains in 2014, thanks in part to premium increases and favorable claims frequency. This was the fourth consecutive year in which the industry reported improved results, A.M. Best said in a report. The …
30
10, 2015
World Insurance Appoints Heads of Personal, Commercial Lines in N.J.
World Insurance Associates LLC, an independent agency based in Tinton Falls, New Jersey, has hired Cathy Saporito as senior vice president, head of Personal Lines. Saporito joins World Insurance Associates from AIG, where she was senior business development manager for …
2
11, 2015
Death Toll in Storm-Lashed Texas Rises to 6
The death toll rose to six in Texas as more bodies were recovered on Oct. 31 after another band of strong storms and heavy rain spawned three tornadoes and dangerous flooding in the waterlogged state. It was the second day …
30
10, 2015
South Carolina Homeowners Face Expensive Repairs to Unsafe Dams
People who live around dozens of lakes in South Carolina are under emergency orders to repair or replace dams that ruptured or were deemed unsafe by inspectors after the historic rains this month, and they face staggering bills ranging from …
2
11, 2015
Odyssey Partners Completes Acquisition of Broker Integro
New York private equity firm Odyssey Investment Partners has completed its acquisition of specialty insurance brokerage Integro Ltd. Financial details of the investment were not disclosed. Integro said its management team led by William Goldstein, John Sutton, Toby Humphreys and …
2
11, 2015
US and UK to Hold Joint Exercise to Test Cyber Security of Global Financial Firms
The US and British governments will hold a joint exercise to test cyber security and information sharing arrangements involving global financial institutions, according to the UK National Computer Emergency Response Team (CERT). The initiative will not be a “war game” involving live …
2
11, 2015
Death Toll in Storm-Lashed Texas Rises to 6
The death toll rose to six in Texas as more bodies were recovered on Oct. 31 after another band of strong storms and heavy rain spawned three tornadoes and dangerous flooding in the waterlogged state. It was the second day …