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09, 2015
PartnerRe Files Definitive Proxy to Seal Acquisition by EXOR
Bermuda-based PartnerRe Ltd. announced that a Special General Meeting of shareholders will take place on Thursday, November 19, 2015 to vote on the previously announced merger agreement between PartnerRe and EXOR, and all related transactions. The company filed a “Definitive …
28
09, 2015
IFG Companies Hires Smith as Underwriting Manager in Connecticut
IFG Companies has hired Geoffrey J. Smith as underwriting manager of its nationwide Commercial Underwriting Renewal Center in Hartford, Connecticut. While managing the efficiency and effectiveness of the Commercial Underwriting Renewal Center, Smith will also have a senior leadership role …
28
09, 2015
Catholic Mutual, Church Mutual to Offer Workers’ Comp Coverage
Catholic Mutual Group, a coverage provider for the Catholic Church in North America, and Church Mutual Insurance Company (CMIC), a nationwide insurer of religious organizations, have formed a strategic alliance under which CMIC will underwrite auto and workers’ compensation insurance …
25
09, 2015
No Coverage for Tony Stewart in Ward Race Car Death: Axis Insurance
Axis Insurance says the lawsuit brought against racing star Tony Stewart, whose car struck and killed another racer during a New York event in 2014, is not covered by the insurance policies it issued for Stewart. Axis maintains that its …
29
09, 2015
Europe’s Rich Families – Such as EXOR’s Agnellis – Turn Dealmakers
John Elkann, the leader of Italy’s billionaire Agnelli family, has a way of preparing his relatives for a big takeover battle that you won’t see at your everyday company. In June, he gathered two branches of the prominent Italian family …
25
09, 2015
Louisiana P/C Commission: Worker’s Comp Market ‘Remains Competitive’
In its annual report to the Legislature for 2014-2015, the Louisiana Property & Casualty Insurance Commission noted that the workers’ compensation market in the state “remains competitive.” There were 246 insurance companies providing workers’ compensation insurance in Louisiana in 2014, …
28
09, 2015
Oregon Homes Demolished Without Proper Asbestos Removal
Contractors have been tearing down hundreds of Portland homes without properly removing the asbestos inside, a practice that ignores state regulations and could put workers at risk. An investigation by The Oregonian found that weak regulatory oversight from the Department …
27
09, 2015
Cyberattack Cost Illinois City $760K so Far
Naperville, Ill., city officials have spent about $760,000 on rebuilding its online network three years after a cyberattack wreaked havoc. City officials tell the Chicago Tribune insurance covered about 25 percent of the cost. Officials say there’s no evidence of stolen …
29
09, 2015
PERILS Lowers Windstorm Niklas Insured Loss Estimate to $927 Million
PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, has released its third loss estimate for windstorm Mike-Niklas, which, lowers the estimated property insurance market loss from €895 million ($1.0 billion] to €826 million [$927 million]. The announcement …
27
09, 2015
Earthquakes Knock Out Power in Oklahoma Town
Two earthquakes — including one of magnitude 4.0 — rattled Cushing, Okla., and caused power outages, but no injuries or significant damage is reported. The U.S. Geological Survey reports a 4.0 magnitude quake struck at 8:16 p.m. on Sept. 24 …