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18
07, 2016
ICT Honors Lawson Posthumously with Raymond Mauk Award
The Insurance Council of Texas (ICT) posthumously honored Ron Lawson, former vice president at the Republic Group in Dallas, with the Raymond Mauk Leadership Award during the group’s 24th Annual ICT Mid-Year Property and Casualty Symposium in Austin. Lawson passed last …
14
07, 2016
Insurance Documents in Penn State Sex Abuse Case Released
Penn State coach Joe Paterno was told by a teen boy in 1976 that assistant coach Jerry Sandusky had molested him in the shower but responded that he didn’t want to hear about it and had “a football season to …
18
07, 2016
Workers’ Comp Line Achieves ‘Significant’ Profit in 2015: Fitch
The U.S. workers’ compensation insurance market achieved a “significant” underwriting profit in 2015, but trends call into question whether such a result can be repeated, Fitch Ratings concluded in a new report. For 2015, the workers’ compensation combined ratio came …
14
07, 2016
RenRe Appoints Qutub as CFO, Succeeding Kelly Who Is Retiring
RenaissanceRe Holdings Ltd. announced that Jeffrey D. Kelly, its chief financial officer and chief operating officer, is retiring. Kelly, 62, will be succeeded as CFO by Robert Qutub, effective Aug. 8, 2016, and will remain as chief operating officer until …
18
07, 2016
Selling Medical Insurance to Olympic Travelers – An Expert Offers Advice
How should an agent or broker approach selling travel medical insurance to those heading to Rio? The answer is simple: know what potential dangers they face, provide them with the information to reduce their risk, and in the event they …
14
07, 2016
Allianz Names XL Catlin’s Posner Senior Underwriter for Terrorism Insurance in North America
Allianz Global Corporate & Specialty (AGCS) reported that Adam Posner has been named senior underwriter for Terrorism & Political Violence insurance. Posner will be based in New York and he will report directly to Marcos Garcia Norris, regional practice group …
18
07, 2016
Cincinnati Financial Corp. Reports $160M-$170M in Q2 Storm Losses
Cincinnati Financial Corp. reported that The Cincinnati Insurance Companies’ property/casualty group expects its second-quarter results to include pretax catastrophe losses of approximately $160 million to $170 million. That loss amount represents an impact on the second-quarter 2016 combined ratio of …
14
07, 2016
Court Removes GM Bankruptcy Shield on Ignition Switch Claims
General Motors’ 2009 bankruptcy does not shield it from lawsuits over a deadly ignition-switch defect that led to criminal charges against the automaker and prompted the recall of 2.6 million vehicles in 2014, a federal appeals court ruled on Wednesday. …
18
07, 2016
BP Raises Liability by $5.2 Billion for Deepwater Horizon Spill
BP Plc has raised the total liability from the Deepwater Horizon oil disaster, which triggered the worst offshore oil spill in U.S. history, by $5.2 billion to $61.6 billion before tax. The London-based company expects to take a $2.5 billion …
14
07, 2016
Insurers Expect Lower Returns in Face of Low Interest Rates, Heightened Competition
Approximately three-fourths of insurers surveyed have lowered their target return-on-equity expectations to 10 percent or lower, a reflection of highly competitive market conditions remaining and the slow-growth economy, according to a new A.M. Best survey. According to the A.M. Best …