The aviation sector carries the biggest risk of corporate default as a result of the coronavirus pandemic, according to a survey of insurers published by broker Gallagher on Tuesday. Only 29% of credit and political risk insurers had seen claims …
The Hartford emerged from the second quarter’s COVID-19 related challenges with an overall profit and a plan to reduce expenses through “headcount reductions,” information technology investments and other moves. The insurer is calling its expense reduction move Hartford Next and …
A South African regulator warned insurers to stop broadly rejecting claims from businesses seeking to cover losses because of a lockdown to curb the coronavirus. “The Financial Sector Conduct Authority is concerned about the behavior of some insurers who are …
Reinsurance broker Guy Carpenter & Co., a business of Marsh & McLennan Cos., has appointed three new members to its Executive Committee. The new members are: Neil Mayer has been appointed chief operating officer for Guy Carpenter. In this role, …
AM Best has downgraded the Financial Strength Rating to B (Fair) from B+ (Good) and the Long-Term Issuer Credit Rating to “bb+” from “bbb-” of Cameron Mutual Insurance Co. (Cameron Mutual) in Cameron, Missouri. The outlook of these ratings remains …
The Reinsurance Solutions business of Aon plc has appointed Catherine Turner as head of UK Property, and co-leader with Richard Evans of its UK & Ireland and Specialty Casualty business. Turner will report to Peter Stubbings, Reinsurance Solutions’ chief executive …
Fire restrictions within some state land are being lifted because of recent monsoon rain across the northern and southern sections of Arizona. Officials with the Arizona Department of Forestry and Fire Management said restrictions will be lifted by Friday on …
In his first semester at Washington State University, Sam Martinez witnessed or took part in several activities that his family says was a pattern of hazing at Alpha Tau Omega (ATO), the fraternity he hoped to join. Pledges were quizzed …
Texas’ surging coronavirus numbers will not slow the state’s reopening, according to Republican Gov. Greg Abbott, who has prescribed an emphasis on face coverings and social distancing to curtail sobering trends, including hospitalization rates that have doubled since Memorial Day. …
John (Jack) A. Bogardus Jr., age 92, former chairman, president and CEO of Alexander & Alexander insurance brokerage, passed away from complications of Alzheimer’s in Scottsdale, Arizona on June 28, according to his family. Bogardus spent his childhood in Scarsdale, …