Illinois Insurance Director Nathaniel S. Shapo has obtained a conservation order against Legion Indemnity Company. The conservation of Legion was precipitated by rehabilitation orders entered in the state of Pennsylvania against two Legion Indemnity Company affiliates, Legion Insurance Company and …
Bermuda’s XL Capital Ltd announced that Robert Clements, one of the company’s founding directors, and currently the Chairman of Arch Capital Group Ltd., has retired from its Board. The announcement summarized Clements’ illustrious career, noting that he had been a …
Bermuda’s Arch Capital Group Ltd. announced that its offering of 7,475,000 common shares at $25.50 per common share (See IJ Website April 4) resulted in net proceeds of approximately $179 million. The offering, which closed on Monday, included the exercise …
The name “Assurex Global” has been officially adopted by the former Assurex International, the world’s largest privately held commercial insurance and risk management brokerage group, effective immediately. “Our name is new, but our mission of delivering unsurpassed insurance services, risk …
Regional Executive VP of Brown & Brown, Inc. Thomas E. Riley and Robert J. Turner, President of RJT, Inc. of Parsippany and Freehold, NJ, doing business as The Turner Group, announced that a New Jersey subsidiary of Brown & Brown …
New York’s Superintendent of Insurance Gregory V. Serio applauded Senator Schumer (D-NY) for his proposals on “federal legislation to help curb auto insurance fraud,” and urged him to focus on the situation in NY. Serio related the proposals to the …
Insurance industry and consumer groups have joined together to launch an extensive advertising campaign aimed at building support for their efforts to bring about reforms in New Jersey’s automobile insurance market. The “Coalition for Auto Insurance Competition” began a statewide …
Gov. Gary Locke has signed House Bill 2544 restricting insurers’ use of credit-based insurance scores. Earlier in the week, he signed Senate Bill 6409, providing an opportunity for corrective action to be taken before a construction defect lawsuit can be …
Brokers, agents and underwriters alike are learning a new way to do business in the hard market, which has meant getting back to basics with more complete and professional submissions as well as better communications between carriers and producers. And …
The Colorado Division of Insurance has suspended Legion Insurance Company and Villanova Insurance Company. The suspensions are the result of both companies being placed into rehabilitation by the Commonwealth Court of Pennsylvania. M. Diane Koken, Pennsylvania Insurance Commissioner was appointed …
