Owners of nearly 90 percent of the structures destroyed in last month’s wildfire in the Santa Cruz Mountains did not properly clear flammable brush from the property, state fire officials say. California law requires property owners in forested areas to …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a” of the UK-based Markel International Insurance Company Limited (MIICL) with stable outlooks. Best also affirmed Markel’s Lloyd’s Syndicate 3000 – …
Insurer Allstate Corp said it has dropped its bid to fight a reduction on auto policy rates imposed earlier this year by California’s insurance regulator. An Allstate spokesman, in an e-mailed statement, said the insurer had filed a motion to …
The Chubb Corp. announced the promotion of four executives. The insurer promoted John J. Degnan to vice chairman and chief operating officer. Degnan, a former attorney general of New Jersey who joined Chubb nearly 18 years ago, was previously vice …
Philadelphia-based ACE USA has introduced a new specialty insurance product that provides additional coverage for expenses and losses that stem from an insured’s property loss. Called ACE Supplemental Property, the coverage supplements conventional property insurance programs by providing payment for …
Midwest agents with offices located in flooded areas are facing the challenge of “staying afloat,” so to speak, during the devastation of what some have called the 500 year flood event. One Iowa agency, Millhiser-Smith Agency Inc., located in hard …
Lockton Cos. has named Michael McFadden executive vice president for the company’s New York operations. McFadden, 42, will specialize in providing transaction-related insurance products and employee benefit due diligence for acquisition-minded clients. He will be based in Lockton’s New York …
The Supreme Court sided against MetLife Inc. Thursday, ruling that insurance companies or employers have a conflict of interest when they both decide claims under employee benefit plans and pay the benefits. The justices ruled that federal court should consider …
Colemont Insurance Brokers has promoted Hardy Nix to vice president in Colemont’s Texas office. Hardy specializes in hard-to-place casualty lines, specifically general liability and umbrellas for many classes, including apartments, restaurants, night clubs, construction contractors, oil and gas, and manufacturing …
AFS/IBEX, which provides premium financing for the property and casualty insurance industry, announced new marketing managers for the South Central region. Linda Leos joined AFS/IBEX team in the company’s Dallas location as a Regional Marketing manager. Leos will develop and …
