The Texas Department of Insurance announced enforcement actions taken by Commissioner Mike Geeslin that became final during January. The actions include three license revocations, two license denials and fines and restitution totaling $171, 832. Copies of Geeslin’s orders may be …
Houston-based HCC Insurance Holdings Inc. announced that Luis R. Martinez de la Fuente has been retained as a consultant to assist the company’s planned international expansion in Latin America. Martinez, who has residences in Mexico City and Miami, has been …
Insurance broker Beecher Carlson has expanded its national energy team with the appointment of Patrick Stumbras as managing director. Stumbras brings 17 years experience to Beecher Carlson with expertise in the power generation industry. He will focus on the development …
Citizens Financial Group is selling its considerable insurance agency businesses to Hub International Limited in a deal that includes a strategic alliance between the two for future sales and marketing. Hub will purchase three large insurance brokerages from subsidiaries of …
Commissioner of Insurance George Dale has suspended the 180-day repair deadline provision in personal and commercial property replacement insurance policies as to Hurricane Katrina claims. Dale also suspended the 180-day deadline for providing notice of intent to make a claim …
Speaking at the World Insurance Forum in Bermuda, Hemant Shah, Risk Management Solutions CEO, warned that insurers should be preparing to increase their reserves for catastrophe losses, not only due to the unprecedented 2005 hurricane season, but also to prepare …
In a recent press bulletin Amber Partners Ltd., an independent specialist in hedge fund operational risk, indicated that “leading U.K. and U.S. insurers to the hedge fund industry determined that Amber Certified funds will be eligible for premium discounts on …
Swiss Re announced the appointment of Beat Strebel to head its Latin American unit. Strebel, who is based in Armonk, New York, is responsible for all of Swiss Re’s Property & Casualty and Life & Health reinsurance business in Latin …
Following last week’s World Insurance Forum in Bermuda, Lloyd’s chairman Lord Peter Levene undertook to give his answers to some important questions in a Q&A format on the Lloyd’s Website (www.lloyd’s.com). Levene said he didn’t see problems with Bermuda-based competition, …
A.M. Best Co. announced that it has assigned a financial strength rating of “A-” (Excellent) and an issuer credit of “a-” to the Singapore-based insurer First Capital Insurance Limited, with a stable outlook. “The rating reflects the company’s sound capitalization, …
