California-based InSure Vision Technologies (IVT) has announced the availability of SurePath 3.0, its flagship product for processing and managing both paper-based and electronic surety bonds. Pam Stocks, InSure Vision Technologies president commented that SurePath 3.0 contains many enhancements to further …
ACE Limited announced that Philip V. Bancroft will join the ACE Group of Companies as CFO of ACE Limited, effective immediately. Bancroft will be based in Bermuda and will report directly to Brian Duperreault, chairman and CEO of ACE Limited. …
J.P. Morgan Chase has filed an objection to a request by insurers who have reportedly refused to honor $1.1 billion in surety bonds and are requesting access to Enron Corp. financial records to see if energy contracts actually existed. According …
World Trade Center leaseholder Larry Silverstein is pursuing the legal battle regarding property claims resulting from the Sept. 11 terrorist attack on the twin towers. World Trade Center Properties LLC, an affiliate of Silverstein Properties Inc., filed suit against Travelers …
Chicago-based Hub International Limited (Hub) announced an agreement to sell its underwriting subsidiaries, Old Lyme Insurance Company of Rhode Island Inc. and Old Lyme Insurance Company, Ltd. (Old Lyme) to Fairfax Inc. (Fairfax) of Toronto. Fairfax is a subsidiary of …
The number of individual investors in Lloyd’s syndicates, known as Names, continues to decline, falling from 2,852 last year to 2,490 currently, a 13 percent decrease. As corporate capital becomes increasingly the rule (it now accounts for around 85 percent …
As more than a 100 individual fires continued to rage unchecked around Sydney and other parts of the Australian State of New South Wales, more homes and buildings have been destroyed, Australian insurers estimate that losses exceed U.S.$35 million with …
New York State Insurance Superintendent Gregory V. Serio announced a major reform package for the State’s automobile no-fault insurance arbitration program, designed to expedite settlement of insurance disputes, reduce abuses to the system by health providers and attorneys, and compel …
The International Risk Management Institute (IRMI) has issued a statement supporting the contentions of the Pennsylvania Trial Lawyers Association(PaTLA) that the insurance industry’s own business practices are responsible for its financial losses from medical malpractice coverage. According to the IRMI, …
Chubb Corp. is reportedly still interested in acquiring London-based specialty insurer Hiscox Plc, despite the rejection of a friendly offer made last January. It’s raised its stake in the company to over 28 percent and stands poised to make hostile …
