BOMA International President Sherwood Johnston, III, who met earlier this week with President George W. Bush and other business leaders to discuss the federal government’s role in addressing the unavailability of terrorism insurance coverage, is among those calling for some …
A recent survey of nearly 1,000 independent agents and brokers conducted by the Independent Insurance Agents of America (IIAA) and the Alliance of American Insurers (AAI) confirms the problems the insurance industry is having placing terrorism insurance coverage for commercial …
Minnesota has taken a tougher stance against insurance fraud by establishing a fraud unit in the Department of Commerce and strengthening its laws by making it a crime to use runners and cappers to recruit patients. “Senate File 3015 is …
Legislation designed to reduce the high rate of automobile accidents caused by red light violations recently passed the Illinois Senate. Senate Bill 2159 permits municipalities and counties to install red light cameras that are connected to the traffic signal and …
The heads of France’s AXA Group and Germany’s Commerzbank have both indicated that their company’s respective stakes in French bank Credit Lyonnais may be for sale, but that they have no immediate plans to do so. According to a report …
The newly formed, Bermuda-based, Allied World Assurance Company, Ltd. (AWAC) announced the appointment of Scott Carmilani as its new executive vice president. AWAC is a joint venture headed by American International Group, Chubb Corp. and investment bankers Goldman Sachs. It …
Lloyd’s decision to begin reporting the profits and losses of its syndicates on an annual basis, rather than over three years, produced some costly results, with last year’s losses estimated at £3.11 billion ($4.45 billion) overall, and WTC loss estimates …
Mutual Risk Management, the troubled Bermuda-based holding company that owns the Legion Insurance Group, announced that John Kessock Jr. has resigned as President and a Director of the Company “in order to pursue personal interests.” Kessock’s resignation, after 23 years …
New York Governor George Pataki’s office announced that private funeral services were held Sunday for Neil D. Levin, who headed the Port Authority of New York and New Jersey prior to his death in the collapse of the WTC. His …
Stanislav Svinarenko was booked into the Sacramento County (Calif.) Jail with bail set at $5,000 after being arrested on one count of insurance fraud. The Fair Oaks resident faces up to five years in state prison, with a possible maximum …
