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Beazley Hires Kontonotas as Crime & Fidelity Underwriter in New York
Specialist insurer Beazley hired Michael Kontonotas as an underwriter for the company’s crime & fidelity bond underwriting team. He will work from Beazley’s New York office. Kontonotas has seven years of underwriting experience and was most recently a fidelity and …
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New Jersey Doctor Sentenced for Role in Medical Lab Bribery Scheme
A New Jersey doctor who took part in a long-running bribes-for-test referrals scheme is now headed to prison. Douglas Bienstock received a 37-month sentence Tuesday, federal prosecutors said. He also will have to serve a year of supervised release, pay …
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Reinsurance Market’s Evolution Could Affect Its Stability: ‘Acts of God’ Author
First of Two Articles The reinsurance market is moving from coverage of acts of God to one that covers commoditized risks – an evolution that could have long-term implications for market stability and trading large-scale risk, according to an industry expert …
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NFP Property & Casualty Acquires Texas’ AutoGroup Services
Insurance broker and consultant, NFP, has acquired specialty agency AutoGroup Services (AGS), based in Fort Worth, Texas. Founded in 2000, AGS consults with auto dealerships to help maximize the profitability of their finance and insurance departments. The firm tailors dealership …
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Arkansas Lawmaker: Flooding Highlights Need for Levee Standards
Changes to Arkansas’ levee system after recent flooding in the state should be on the agenda if the Legislature is called back into session to take up the future of its health insurance marketplace, a key lawmaker said. Republican Sen. …
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Greenberg Says Bailout Lawsuit About Government Overstepping Its Bounds
Maurice “Hank” Greenberg said that his partial victory in a lawsuit tied to American International Group Inc.’s bailout isn’t enough, and that he’s seeking financial damages to hold the government accountable. “Our Constitution is a sacred document,” the former chief …
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Charges Put Minnesota Archdiocese Insurance Claims at Risk
Lawyers for the Archdiocese of St. Paul and Minneapolis are warning that criminal charges against the corporation could jeopardize insurance coverage that’s being counted on to pay some claims of victims of clergy abuse. The archdiocese faces multiple counts for …
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Storm Cleanup Gets Underway in Pennsylvania, New Jersey
Powerful storms that thundered through eastern Pennsylvania, New Jersey and Connecticut downed trees and power lines, leaving nearly 400,000 customers without electricity and disrupting mass transit service Wednesday. In Pennsylvania, PECO says more than 165,000 homes and businesses were without …
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How Supreme Court Gay Marriage Ruling Affects Employee Benefit Plans
Following the historic Supreme Court decision that same-sex couples have a national right to marry, employers offering domestic partner benefits to unmarried couples may pull back on that offering since employees in all states will be able to marry. Meanwhile, …
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Louisiana Farmers, Ranchers Brace for Worst Year Since 2008
Flooded fields and fickle temperatures put Louisiana farmers and ranchers in a pensive mood as they gathered here for the Farm Bureau Federation Convention, the state’s largest annual celebration of agriculture. “I’m afraid this year is a nail-biter and a …
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