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6
10, 2015
New York AG Schneiderman, EBSA Agree to Joint Insurer Oversight
New York’s Attorney General Eric Schneiderman and the federal Employee Benefits Security Administration have agreed to share information and address violations of laws covering health insurance offered as worker benefits. They say the five-year memorandum enables them to conduct joint …
2
10, 2015
Texas Hospital Should Forfeit $32M in Ike Funds, Report States
A federal review says a Houston, Texas hospital should forfeit $32 million in government grants for Hurricane Ike recovery due to misuse of the money. Riverside General Hospital was named in the Office of Inspector General report released this week. …
7
10, 2015
A.M. Best Assigns to ‘A-’ Rating to Spinnaker Insurance Co.
A.M. Best has assigned a financial strength rating of A- (Excellent) and an issuer credit rating of “a-” to Spinnaker Insurance Company (Spinnaker), Chicago, Ill. The outlook assigned to both ratings is stable. Spinnaker is a newly formed property/casualty insurance …
2
10, 2015
Morgan Stanley Among Employers Shifting Job Bias Claims to Arbitration
Morgan Stanley is asking employees to give up their right to sue the firm in class actions for civil rights violations including discrimination based on race, gender or age, according to a former employee’s lawsuit. The firm sent an e-mail …
6
10, 2015
BP’s Oil Spill Settlement with Gulf States, U.S. Tops $20 Billion
The value of BP Plc’s settlement with the U.S. government and five Gulf states over the Deepwater Horizon oil spill rose to $20.8 billion in the latest tally of costs from the U.S. Department of Justice. The settlement is the …
2
10, 2015
Zurich Names Horgan CEO of Global Corporate Business in North America
Zurich announced that Paul Horgan, previously head of Group Reinsurance, has been appointed CEO of Zurich’s Global Corporate in North America (GCiNA) business effective immediately. As CEO, Horgan is now accountable for the direction, management and performance of GCiNA, a …
2
10, 2015
Update: Category 4 Hurricane Joaquin, Now Pounding Bahamas, May Bypass East Coast
While forecasters haven’t ruled out a U.S. East Coast strike by the Category 4 hurricane pounding the Bahamas with heavy rains and raging surf, more projections are showing Joaquin will miss, the National Hurricane Center said. Joaquin raked parts of the …
6
10, 2015
DUAL Launches New Private Clients Global Practice
The DUAL Group, the MGA and Lloyd’s of London’s international coverholder, has announced the launch of DUAL Private Clients, which will marry their recent acquisition of the Private Clients underwriting business of Aqua and Aurum with their own global distribution …
2
10, 2015
ACE Offers Cover for Private Equity/Venture Capital Firms in Hong Kong, Singapore
ACE Group has launched Private Equity and Venture Capital Liability Insurance in Hong Kong and Singapore. The product aims to address the evolving regulatory and volatile economic environments as well as increasingly complex deal structures. The product offers insureds protection should …
2
10, 2015
Competition, Customer Demand Worry Global SMEs but Optimism Rises: Zurich
Small and medium-sized enterprises (SMEs) around the world are increasingly concerned about the impact of competition on margins and lack of consumer demand, according to Zurich Insurance Group’s third annual global SME survey. The survey* polled 3000 C-suite executives and …