When he succeeded Nick Prettejohn as Lloyd’s of London’s CEO in 2006, Richard Ward was not an experienced veteran of the insurance industry, but then neither was Prettejohn, a former senior management consultant at Bain & Co. Neither is Lord …
The average indemnity and expense payments in nurse practitioner liability claims have increased at a rate of 2.3 percent per year over the past 10 years, according to an insurer’s review of claims. Pediatric/neonatal specialty has the highest average severity, …
As insurance and real estate agents and homeowners feared, Congress left Washington without extending the federal flood insurance program. Congress adjourned until April 12 after failing to agree on an unemployment benefits bill that included a provision with an extension …
Famed U.S. investor Warren Buffett, already Munich Re’s biggest shareholder, has built up his stake in the world’s No. 1 reinsurer to nearly 8 percent, increasing his bet on the sector’s long-term prospects. Buffett, who owns the world’s third-biggest reinsurer …
South Dakota Governor Mike Rounds has vetoed legislation that would have prohibited insurers from recovering funds from liable parties and would have unfairly and unnecessarily increased insurance costs for South Dakotans had it been enacted into law, according to the …
Illinois Gov. Pat Quinn has appointed workers’ compensation attorney Mitchel R. Weisz as acting chairman of the Illinois Workers’ Compensation Commission. Amy Masters, who has been heading the organization since the retirement of Paul Rink in late February, will return …
Louisiana insurance regulators have served a Denham Springs, La., agent and her agency with cease and desist orders, license revocations and fine notices for alleged misappropriation, misrepresentation and forgery. Michelle Schulin Paul and her agency, The Reed Agency Inc., each …
Cathy H. Allen has been named vice president of Training for Lubbock, Texas-based insurance organization, The Gibraltar Group. In addition, she will be working with the firm’s customers in human resources risk management. Allen joins The Gibraltar Group from Workforce …
Capitol Insurance Companies (Capitol), a Middleton, Wis.-based national provider of specialty property-casualty insurance and commercial surety products, reported a strong year of underwriting profitability for the year ended Dec. 31, 2009. Capitol posted a combined ratio of 93.9 percent based …
Property insurance companies would not be allowed to cancel policies or raise rates on homeowners who make damage claims stemming from corrosive Chinese drywall, under two proposed state laws in Louisiana. Bills by state Sen. Julie Quinn, R-Metairie, and Rep. …
