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Berkshire Hathaway to Buy Stake in IAG to Boost Australia Insurance Sales
Warren Buffett’s Berkshire Hathaway Inc. will pay A$500 million ($388 million) for a stake in Insurance Australia Group Ltd. in a deal that will accelerate sales of commercial coverage. The agreement will give Berkshire 20 percent of IAG’s insurance premium payments and make it …
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Why Art Thieves Are So Successful
Last month, administrators at the Boston Public Library discovered that a $600,000 engraving by Dürer and a $30,000 etching by Rembrandt had gone missing. It set off a media firestorm, the director of the museum resigned, and then … a …
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Study: Agencies that Use Technology Experience More Growth
A new study shows that insurance agencies that use technology in sales and marketing, managing customer relationships and other sales processes sell 43 percent more policies per producer than agencies that rely less heavily on technology. And the gap between …
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Warm Weather Bringing Relief from Record U.S. Bird-Flu Outbreak
There’s relief ahead for U.S. poultry farmers suffering through the worst ever domestic outbreak of bird flu. As the weather warms, there’s likely to be fewer instances of the disease, which has already left 47 million dead birds, state officials …
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Wyatt Appointed Development Director for RSA’s Global Specialty Lines
RSA, one of the largest UK commercial insurers, has appointed David Wyatt to the newly created role of development director within its Global Specialty Lines (GSL) business. Reporting to Nick Donovan, head of Sales and Customer Management, Wyatt will be …
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JLT Specialty Names Aon’s van Heukelum as Chief Commercial Officer
JLT Specialty Insurance Services Inc. has appointed Hans H. van Heukelum as chief commercial officer. Van Heukelum will lead the broker’s U.S. strategy and expansion with respect to clients, prospects, markets and employee relations. He will be responsible for leading …
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AIG Avoids Damages with Ruling in Greenberg Bailout Lawsuit
American International Group Inc., which opted against joining Maurice “Hank” Greenberg in a suit against the U.S., became a victor in the case after a judge ruled that the former chief executive officer isn’t entitled to compensation over the insurer’s …
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CNA Hires Dipasupil as VP of Underwriting in New York
Chicago-based CNA hired Jay Dipasupil as vice president, Underwriting, Errors & Omissions for Professional Services and Financial Institutions, reporting to Chris Leisz, chief underwriting officer and senior vice president. Dipasupil is based in CNA’s New York City office. In this …
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Florida Busts Major Workers’ Comp Fraud Scam Involving Multiple Shell Companies
Six Central Florida insurance fraud arrests that breakdown an elaborate Central Florida workers’ compensation insurance fraud scheme were made this week, according to an announcement by Florida Chief Financial Officer Jeff Atwater. An investigation led by the Department of Financial …
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Storm Brewing Over Yucatan Peninsula Threatens Texas and Louisiana
The Atlantic’s second storm of the year may be developing over the Yucatan Peninsula, with the potential to reach Texas and Louisiana and flood Houston for the second time in a month. Thunderstorms moving northwest from the Yucatan along the …
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