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10, 2015
ProPublica, NPR: Inside Corporate America’s Campaign to Ditch Workers’ Comp
This article was published by ProPublica and NPR and is reprinted with permission. Standing before a giant map in his Dallas office, Bill Minick doesn’t seem like anyone’s idea of a bomb thrower. But backed by some of the biggest …
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10, 2015
Insurers in Massive California Fires Agree to Claim Handling Reforms
Insurers handling wildfire damage from the Valley and Butte wildfires last month in Northern California has agreed to a claims handling process to help fire victims begin their recovery more quickly, Insurance Commissioner Dave Jones announced on Wednesday. More than …
14
10, 2015
Virginia’s TowneBank Expands Insurance Unit With 3 Agency Acquisitions
TowneBank, a Portsmouth, Virginia-based community banking and financial services company, announced that it has acquired three insurance agencies in Virginia: Invincia Insurance Solutions in Chesterfield; Total Insurance Planning in Midlothian; and B.H. Baird Insurance in Warsaw. Terms of the transactions …
14
10, 2015
Tropical Storm Koppu Forms in Pacific, Heading Toward Philippines, East Asia
Tropical Storm Koppu, which formed Tuesday in the Pacific Ocean, is heading west in a direction that may bring it ashore in the northern Philippines later this week. The system is forecast to continue its track west through Oct. 16 and …
14
10, 2015
DeCotis Insurance Names New CEO in Rhode Island
DeCotis Insurance Associates, a specialty and surplus lines wholesaler and managing general agent based in Providence, Rhode Island, with an additional office in Braintree, Massachusetts, announced that Thomas DeCotis has been appointed CEO, succeeding his father, Paul DeCotis, who has …
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10, 2015
PartnerRe Estimates China’s Tianjin Explosions to Cost Between $50m and $70M
PartnerRe Ltd. estimates that losses from the August explosion in China’s Port of Tianjin will be between $50 million and $70 million pre-tax and net of retrocession and reinstatement premiums. These losses will be recorded in the company’s third quarter …
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10, 2015
Amtrak Sponsors $275M Cat Bond for Northeast Storm Surge, Wind, Quake
Amtrak is getting $275 million of reinsurance protection from the capital markets for its wholly owned captive, covering storm surge, wind and earthquake perils, according to GC Securities. GC Securities, the capital markets arm of reinsurance broker Guy Carpenter, announced …
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10, 2015
W. R. Berkley Launches South Africa Treaty Unit; Paradine Named Senior VP
W. R. Berkley Corporation announced it has launched a business unit dedicated to writing South African business. The new unit, which will report to Berkley Re UK, will provide treaty service to both insurers and brokers in the region. Sean …
14
10, 2015
Hamilton USA CEO Ward Resigns
Hamilton USA CEO Conan Ward has resigned less then two years after taking on the job to develop Bermuda-based parent company Hamilton Insurance Group’s U.S. operations, Carrier Management has reported. Hamilton Insurance Group issued a short statement noting that Ward …
14
10, 2015
Japan Post’s IPO Fully Subscribed After Two Days; at Least $10B to Be Raised
Japan’s government received orders for all the shares it’s offering in Japan Post Holdings Co. and its banking and insurance units after the first two days of bookbuilding, people with knowledge of the matter said. Investor orders through Oct. 9 …