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16
10, 2015
North Carolina Insurance Commissioner Goodwin to Seek Re-Election
North Carolina Insurance Commissioner Wayne Goodwin plans to seek re-election in 2016, he announced this week. “I remain committed to protecting the people of North Carolina through fair and reasonable insurance regulation, while also promoting a vibrant and competitive business …
15
10, 2015
Supreme Court Weighs When an Offer Ends Class Action
The U.S. Supreme Court on Wednesday appeared closely divided as it weighed a class action case in which advertising agency Campbell-Ewald Co. is attempting to fend off a lawsuit over claims that it violated a federal consumer law by sending …
16
10, 2015
Summer Flood Repairs in Florida’s Pasco County Total More Than $100M
Pasco County, Florida officials have learned that flooding this past summer could end up costing the county more than $107 million in repairs. The Tampa Bay Times reports that the county’s Public Works Manager DiAnna Rawleigh told county commissioners Tuesday …
15
10, 2015
UK’s Aviva Seeks Smaller Acquisitions in Other Countries After Friends Life
Aviva Plc’s Chief Executive Officer Mark Wilson said the British insurer is looking for smaller acquisitions outside its home market as it continues to integrate Friend’s Life Group Ltd., the country’s largest insurance transaction in at least 15 years. “We’ll …
15
10, 2015
Reith to Join Marketform Managing Agency as Chief Executive Officer
American Financial Group Inc.* announced that Martin Reith has been appointed chief executive officer of Marketform Managing Agency, which operates Syndicate 2468 at Lloyd’s of London, effective November 2015. Reith has over 25 years’ experience across underwriting, management and leadership. …
15
10, 2015
Comparing Mutual to Stock Insurers Is Like Comparing Marathoners to Sprinters
A.M. Best’s recently released 2015 “Mutuals at a Glance” report is an interesting report on differences between mutual and stock companies in key areas of performance. In its pages is a depiction of a mutual insurance industry that is strong, …
15
10, 2015
UK’s ‘Duty of Responsibility’ Rules to Extend to Insurance Executives
Executives at UK insurers, mortgage brokers and payday-loan companies will be covered by the same “duty of responsibility” as those in banks under legislation introduced in Parliament Thursday. The Bank of England and Financial Services Bill, which will be introduced to …
15
10, 2015
Insurance Australia Scraps Plans for Further China Investment
Insurance Australia Group Ltd. scrapped plans for further investment in China and will instead seek growth in other Asian markets, in a sign that Australia’s hopes of boosting services exports to the world’s second-largest economy may be difficult to achieve. The …
15
10, 2015
Hiscox’s ILS Unit, Kiskadee, and Hiscox Re Announce 3 Senior Appointments
Bermuda-headquartered Hiscox Re’s insurance linked securities (ILS) operation, Kiskadee Investment Managers, announced that Andrew Hughes will assume the role of ILS chief compliance officer and general counsel, while Dr. Matthew Swann has been appointed portfolio manager. In addition, Michael Jedraszak, …
15
10, 2015
XL Catlin Bermuda Creates New Prof. Lines D&O Excess Side A ‘DIC’ Policy
XL Catlin’s Professional Lines Insurance Operations in Bermuda announced the launch of a new Directors & Officers lead excess ‘Side A’ Difference In Conditions (DIC) policy, “to address various issues facing brokers and clients in the current M&A environment.” Matthew …