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6
10, 2015
N.Y. Broker Pleads Guilty to Stealing Nearly $830K in Premiums, Other Funds
A Jericho, New York, insurance broker pleaded guilty to stealing nearly $830,000 in insurance premiums and other funds, said Acting Nassau County District Attorney Madeline Singas’ office. Singas’ office said Tuesday that Joseph Koch, 57, pleaded guilty before Acting Supreme …
8
10, 2015
Run-Off Specialty Firm Catalina Agrees to Buy Allianz Suisse Re from Allianz SE
Catalina Holdings (Bermuda) Ltd. announced its wholly owned Swiss subsidiary, Glacier Reinsurance AG, has signed a definitive agreement to acquire Allianz Suisse Ruckversicherungs-Gesellschaft AG from Allianz SE. Allianz Suisse Re is a Swiss regulated reinsurer incorporated in 2007 with the …
9
10, 2015
Towers Watson Shareholders Plan to Vote Against Merger with Willis: Sources
Stakeholders who own millions of shares in Towers Watson & Co. are planning to vote against the firm’s $8.7 billion merger with Willis Group Holdings Plc if the terms of the transactions are not improved, people with knowledge of the …
9
10, 2015
Thornton Named Managing Director of Global Risk Partners’ Retail Broking Business
Global Risk Partners Limited (GRP)* is pleased to announce that Neil Thornton will be joining as managing director of GRP’s Retail Broking business. Thornton was previously head of the Commercial Division of Bluefin Insurance Services and before that managing director …
6
10, 2015
Delaware Bans Use of Price Optimization in Insurance Pricing
Delaware has issued a bulletin prohibiting the use of price optimization in insurance pricing. The Delaware Department of Insurance said in its Bulletin No. 78 on Oct. 1 that “while price optimization has no universally accepted definition, it generally refers …
6
10, 2015
Parrot Bite? In-Law Woes? Whatever the Health Claim, There’s an Insurance Code
There are 70,000 ways to get sick, hurt or mortally injured, and the U.S. is making them official. Last Thursday, U.S. hospitals, doctors and other care providers had to start using internationally developed standards called ICD-10 codes to bill government programs …
8
10, 2015
Willis to Help Mobilize Global ‘Resilience Modelling & Mapping Form’ for Nat Cat Risks
Willis Group Holdings is providing $1 million to help mobilize a global “Resilience Modelling and Mapping Forum” to address natural catastrophe risk, according to Dominic Casserley, CEO. The Resilience Modelling and Mapping Forum is a collaboration between the global re/insurance industry …
6
10, 2015
Boiler Room Explosion at Florida Penthouse Injures 6
A penthouse boiler room exploded because of a gas leak Friday at a 33-story high-rise near Miami, injuring at least six people, fire officials said. The explosion happened around noon on the top floor of the Château Beach Residences, a …
9
10, 2015
Palomar Insurance Hires King as VP, Producer in Atlanta
Palomar Insurance Corporation has hired Scott King as a vice president and producer. King joined Palomar in August 2015 and will be working with United Egg Producers (UEP). He has over 25 years of experience in property and casualty insurance …
6
10, 2015
Hub International Acquires North-Carolina Based IAS Associates
Hub International Limited, a global insurance brokerage, has acquired the assets of IAS Associates, LLC. Terms of the acquisition were not disclosed. Based in Cary, North Carolina, IAS specializes in providing property and casualty insurance solutions. John Coupland, president, will …