Monthly Archives: <span>February 2008</span>

$500K Grant Goes to Assist Maryland ID Theft, Crime Victims

A crime victim’s assistance group will help those harmed by identity theft and fraud under a $500,000 grant announced Thursday. The Maryland Crime Victims Resource Center plans to use the money to provide direct assistance to victims, work with law …

Fire Causes $1M Damage to Maryland Strip Mall

Montgomery County, Md. fire officials say a two-alarm fire that started in a chicken restaurant did significant damage to a strip mall in Wheaton. Fire and Rescue Service spokesman Pete Piringer estimates that the blaze caused $750,000 to $1 million …

Federal Agencies Still Lacking Identity Theft Protections, Says Report

Nearly two years after an embarrassing flap in which veterans’ personal information was put at risk of identity theft, federal agencies are still not doing all they can to prevent further lapses, investigators have found. Most of the two dozen …

Suit Challenges Newark’s Insurance Requirement for Demonstrators

A three-year-old court order has failed to stop Newark, N.J. from charging people who wish to engage in free speech, according to a lawsuit filed against the city. The lawsuit charged that Newark is violating an order that bars it …

Buffett Rapidly Grows His New Municipal Insurance Arm

One of Warren Buffett’s newest businesses — insuring municipal bonds — is expanding rapidly into a troubled field as the company backed 112 issues in just the past two days, according to Moody’s Investors Service. “I think it’s rapid growth. …

Munich Re 2007 Profit Rises 11.9% to $5.835 Billion

The Munich Re Group announced consolidated profits for 2007 of €3.937 billion ($5.836 billion), surpassing its increased profit guidance of €3.5 to €3.8 billion ($5.18 to $5.63 billion) announced in August. The bulletin noted that with the “return of 20.2 …

Wood to Head Lockton’s UK Engineering & Construction Treaty Team

Lockton’s reinsurance division announced from its London office that it has appointed Julian Wood as Executive Director. “He will play a leading role in the creation of a new specialist Engineering & Construction treaty reinsurance team that will seek to …

Aon Buying ‘Substantially All’ of Gallagher’s U.S/UK Reinsurance

Aon Corporation announced that it has reached an agreement “to acquire substantially all of Gallagher Re’s U.S. and U.K. reinsurance brokerage business. In addition, a team of industry professionals from Gallagher Re, based in the U.S. and U.K., will join …

Marsh’s New Private Client Head Warns of Reliance on ‘Standard Cover’

Marsh’s London office has announced the appointment of Adrian Saunders to be the Head of Private Client Services in the UK. He will report to Mike Melling CEO of Marsh’s Consumer Practice in Europe, the Middle East and Africa (EMEA). …

Montpelier Re Q4 Net Drops; FY Net up Slightly; Book Value Increased

Bermuda-based Montpelier Re Holdings Ltd. led off its earnings report with the good news. The Company reported a fully converted book value per share of $17.88 as at December 31, 2007, an increase of 5.4 percent and 17.6 percent for …