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09, 2015
OSHA Citations Against ‘Midnight Rider’ Production Company Upheld
Citations issued by The U.S. Department of Labor’s Occupational Safety and Health Administration against Film Allman LLC in August 2014 were upheld Sept. 15 by Judge Sharon D. Calhoun of the Occupational Safety and Health Review Commission. The citations for …
22
09, 2015
Endurance Names Gallagher as Chief Risk Officer
Endurance Specialty Holdings, a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced that Christopher Gallagher will assume the position of chief risk officer and group actuary, effective immediately. Gallagher succeeds Joan deLemps who announced her intention to …
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09, 2015
AIR Estimates Insured Losses from Chile Earthquake at $600 to $900 Million
Catastrophe modeling firm AIR Worldwide estimates that insured losses from the Magnitude 8.3 earthquake that struck Chile’s central coast near Illapel on September 16 will be between CLP 400 billion ($600 million) and CLP 600 billion ($900 million). “The September …
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09, 2015
A.M. Best Explains Its Rating Fundamentals for Hedge Fund Reinsurers
Since the Aug. 11, 2015 withdrawal of PaCRe Ltd.’s financial strength rating and issuer credit rating at the company’s request, A.M. Best said there has been considerable speculation about A.M. Best’s view on these hedge fund-sponsored reinsurers. A.M. Best said …
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09, 2015
Overcapacity Weighs on Middle East, No. Africa Reinsurers: A.M. Best Report
A special report from A.M. Best notes that the “low level of insurance penetration seen in many Middle East and North Africa (MENA) countries, combined with the robust, albeit deteriorating, profitability achieved by the leading primary insurers, has made the …
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09, 2015
Monte Carlo 2015: Reinsurers Reexamine How They Do Business
The annual Rendez-Vous de Septembre in Monte Carlo, Monaco traditionally focuses on one or two signatory concerns within the industry. This year, things were different. The 2,700 registered attendees were faced with addressing the pace of change within and without …
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09, 2015
Judge Advances Greenberg’s Starr Suit Over Tax Refund
Maurice “Hank” Greenberg’s Starr International Co. can move forward with a lawsuit claiming the U.S. owes it a $38 million tax refund. A Washington federal judge on Friday rejected government claims that the reason for denying the refund can’t be …
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09, 2015
California Judge Slaps Down Uber Bid to Force Arbitration on Driver
A former Uber Technologies Inc. driver defeated the company’s bid to force her into arbitration, a second victory after California’s labor commissioner said she should have been considered an employee. A San Francisco state judge sided with the driver Monday, …
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09, 2015
Californians Pushed by Wildfires into High-risk Insurance Market
There are lots of reasons people live in California’s Modjeska Canyon. Nestled against the mountains and abutting the Cleveland National Forest, the area has abundant wildlife and access to nature, yet is just a 20 minute drive from larger Orange …
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09, 2015
Taxi Owners’ Credit Union, Hurt by Uber, Seized by New York Regulator
Montauk Credit Union, a large provider of loans to taxi medallion owners, was seized on Friday by New York State’s top financial regulator. The New York State Department of Financial Services said the seizure was necessary because the credit union, …