Sue Langley, Lloyd’s Director of Market Operations and North America, lauded the progress, detailed in a recently released report from the Lloyd’s Market Reform Group (MRG), which is charged with modernizing the insurance market’s business processes. In an open letter …
International professional services firm Towers Perrin announced that it is expanding its reinsurance intermediary business to serve the French domestic market. It has appointed Serge Mussard as Managing Director of its new reinsurance operation, and Daniel Schlegel as Executive Director. …
Aon has released its “2008 Marine Insurance Market Review,” which concludes that the “marine industry is set for a continued run of favorable insurance premiums in 2008, despite facing higher risks. The cargo and liability markets offer a win-win situation …
ACE Limited announced that Brian Duperreault, the Company’s former chairman and CEO, has stepped down from the ACE Limited Board of Directors as a result of his appointment as CEO of Marsh & McLennan Companies (See related article). ACE Chairman …
China’s financial capital saw fresh snowfall Wednesday as the impact of unusually wintry weather deepened, highlighting the vulnerabilities of the country’s booming economy. Heavy snows in recent days have stalled shipments of food and fuel, complicating authorities’ efforts to combat …
Fitch Ratings has upgraded the following ratings of the Liberty Mutual Group (LMG): –Issuer Default Rating (IDR) to ‘BBB+’ from ‘BBB’; –Senior Unsecured Notes to ‘BBB’ from ‘BBB-‘; Liberty Mutual Insurance Company’s (LMIC)–IDR to ‘A-‘ from ‘BBB+’; –Surplus Notes to …
Chartwell Independent Insurance Brokers, LLC, a Los Angeles-based wholesale and specialty insurance broker focusing on high-risk, hard-to-place coverage, has opened a new office in Scottsdale, Ariz., to help meet the growing need among property owners, managers and real estate developers …
Lisa Foley, ASLI, has joined the Escondido office of Bliss & Glennon Inc. as a broker/underwriter. Foley brings 12 years of experience in the wholesale brokerage community and 17 years in the insurance industry. Foley brokers a wide range of …
The Colorado House rejected legislation Tuesday that would have prohibited insurers from using credit information as a factor for the acceptance, denial, renewal or rating of a potential insured for insurance underwriting purposes in connection with property/casualty insurance. The Property …
California Insurance Commissioner Steve Poizner and Cindy Ehnes, director of the California Department of Managed Health Care (DMHC), announced Tuesday a joint action against PacifiCare companies, owned by UnitedHealth Group, in response to more than 130,000 alleged claims handling violations. …
