ACE Ltd. CO Brian Duperreault announced that the company would restructuring its operations into two main groups, ACE U.S and Bermuda, and ACE International. Each group will be headed by its own chief executive. Duperreault praised Dominic Frederico, who will …
The Prudential Insurance Co. of America has reportedly offered to invest at least 150 billion Yen ($1.3 billion) to bail out failed Japanese insurer Kyoei Life. It also announced that its Taiwan operations have become a financially independent subsidiary. Prudential’s …
This month, Applied Insurance Research Inc., a Boston-based catastrophe modeling firm, will be offering free seminars in Seattle, Los Angeles and San Francisco to demonstrate a new site-specific risk assessment capability for corporations exposed to large losses from earthquakes. The …
As part of a Washington coalition of insurers, banks and retailers, the National Association of Independent Insurers spoke out against a privacy bill that the organization maintains would exceed the federal standard of Gramm-Leach-Bliley. NAII local counsel Melvin N. Sorensen, …
Washington Insurance Commissioner Mike Kreidler announced that James “Scott” Jarvis will take on the position of Deputy Commissioner of Consumer Protection, heading up the Consumer Advocacy, SHIBA, Holocaust, Investigation and Examination programs. Jarvis currently serves as the Special Policy and …
The American Bankers Association Insurance Association has proposed the legislation that would effectively create two new federal charters – one for insurance companies and a second for insurance agencies – and a new bureau within the Department of the Treasury …
The Progressive Corp. announced that, effective immediately, Charles B. Chokel, executive vice president and chief investments and capital officer, has left the company. Progressive gave no reason for Chokel’s departure.
Peter van Aartrijk Jr., CIC, a 20-year veteran of insurance industry communications, has been elected chairman of the board of directors of the National Consumer Education Foundation. The NCEF supports communication efforts to improve consumer awareness and understanding of insurance …
The Independent Insurance Agents of America expressed approval over the introduction in the U.S. House of Representatives of legislation to eliminate estate and gift taxes. IIAA is supporting the Death Tax Elimination Act introduced by Reps. Jennifer Dunn (R-Wash.) and …
J. Michael Foley was named chairman of the board and chief executive officer of Midwest Employers Casualty Company, a subsidiary of the Greenwich, Conn.-based W. R. Berkley Group. Foley, 44, is a founder of MECC, where he has served as …
