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29
06, 2016
How U.S. and EU Differ in Handling Volkswagen Diesel Scandal
If you own a Volkswagen with a diesel engine in the U.S., the company will buy back your car and give you as much as $10,000. If you drive in Europe, you may only get a piece of pipe. As part …
7
07, 2016
Jury Award Against Mississippi School District Results in Higher Insurance Rates
After a $660,000 lawsuit, the Natchez-Adams School District will pay more for liability insurance in the coming school year. The Natchez Democrat reports the district will spend nearly $306,000 on insurance compared to $258,000 in 2015-16. A federal jury ruled …
28
06, 2016
QBE Weighs Brexit-Effect; Marsh Considers Some Brexit Scenarios
QBE Insurance Group announced this week that it will be reviewing its UK-based operations in light of last week’s vote in the UK to leave the European Union. “The referendum outcome may require a revised approach in relation to approximately …
29
06, 2016
The Hartford’s Berner Joins Allied World’s Pubic D&O Team
Allied World Assurance Co. has appointed Marc Berner to its North American Public Directors and Officers (D&O) underwriting team. Berner will be based in New York in the role of vice president, Public and Private Financial Institutions, D&O. Berner has …
24
06, 2016
XL Group’s Shareholders Approve Move to Bermuda from Ireland
XL Group plc announced that its ordinary shareholders have approved a scheme of arrangement that will change the place of incorporation of the ultimate parent holding company to Bermuda from Ireland, which is expected to be completed in the third …
28
06, 2016
Aetna’s Purchase of Humana OK’d by Illinois Insurance Regulator, with Condition
The Illinois Department of Insurance has approved Aetna Inc.’s proposed $34 billion acquisition of Humana Inc. provided it is approved by the U.S. Department of Justice, according to an order dated June 23 posted on the department’s website. Aetna announced …
28
06, 2016
2 North Texas-Area Facilities Fined by Federal Safety Regulators
Federal safety regulators have fined two different companies over safety violation in facilities located in North Texas. The federal Occupational Safety and Health Administration fined steel fabricator, K-T Galvanizing Company Inc., $53,200 for 13 serious violations found in its facility …
29
06, 2016
Loeb’s Hedge Fund Lowers Fees for Third Point Re
Third Point Reinsurance Ltd. won lower fees on investments overseen by Dan Loeb’s Third Point LLC, the hedge fund manager that helped start the Bermuda-based reinsurer. Third Point Re will pay a 1.5 percent annualized fee in addition to as …
29
06, 2016
Baird Joins Southwest Risk Agency Services as Assistant VP, Underwriter
Suzy Baird has joined Dallas-based Southwest Risk Agency Services LLC as assistant vice president/underwriter. Baird is a 35-year veteran of the insurance industry. She previously worked at Atlantic Specialty Lines of Texas as the regional sales manager. Baird relocated to Texas …
29
06, 2016
Audit Finds State Insurance Program Privatization Saved Louisiana $10M
Former Gov. Bobby Jindal’s privatization of claims processing and loss prevention services for Louisiana’s self-insurance program saved the state money, though less than projected, according to an audit released on June 27. The Jindal administration privatized the Office of Risk …