Brian Duperreault, CEO of Bermuda’s ACE Ltd., spoke out strongly against U.S. companies that relocate their domicile to the island to avoid taxes, indicating that accepting them could damage Bermuda’s reputation. According to a report from Reuters News Agency, ACE’s …
Italian insurer Societa Assicuratrice Industriale SpA. (SAI) announced that it would exercise the call/put option it has with a group headed by J.P. Morgan Chase to acquire an additional 19.8 percent stake in rival insurer La Fondiaria Assicurazioni Spa (Fondiaria). …
The cost to France’s insurance industry from the severe flooding in three southeastern departments (See Insurance Journal Website Sept.10) will be around £150 million ($147 million) according to preliminary estimates. According to a report in Les Echos, the French Financial …
The U.K.’s Royal & Sun Alliance Group issued a brief statement that CEO Bob Mendelsohn had resigned from his position and as a Director of the company effective immediately. The news was not unexpected. Rumors have circulated since the beginning …
Terrorism coverage remains limited to large commercial property holders, one year after the Sept. 11 attacks, according to an article in the Washington Post. American International Group (AIG) CEO Maurice Greenberg said that the lack of availability is a problem …
The National Association of Independent Insurers (NAII) questioned the approach regulators are taking in formulating direction for the states on the use of insurance credit scoring. The Credit Scoring Working Group met Sept. 11 during the National Association of Insurance …
The New Jersey Department of Banking and Insurance has approved National Insurance Programs’ (NIP) plan to form the Conventus Inter-Insurance Exchange, a physician owned and governed medical professional liability insurance company, and granted permission for Conventus to solicit applications and …
DriverShield Corp. of Ronkonkoma, N.Y. appointed John McIntyre as its new president. McIntyre has been a member of DriverShield’s Board of Directors since October 2001. Gerald Zutler, who has served as President and COO of the Company since 1998, is …
SIAA announced that the Younts Insurance Agency of Lexington, N.C. became the organization’s 1000th Independent Strategic Member when the agency joined the SIA of North Carolina network. Younts Insurance was started in 1997 by Lora Younts and currently writes approximately …
The Texas Workers’ Compensation Commission has scheduled a public hearing for Oct. 16, at which testimony will be heard on amendments to rules that were proposed at the Commission’s Aug. 29 public meeting. At the October hearing, the Commission will …
