The UK’s insurance industry has spawned numerous professional and trade associations over the years, but, oddly enough, one of the most important sectors, the managing general agents, or MGA’s, who underwrite on behalf of Lloyd’s syndicates and other insurers, have …
The National Conference of Insurance Legislators (NCOIL) has adopted a revised version of the Surplus Lines Multi-State Insurance Compact (SLIMPACT) as well as a resolution urging the states to amend their insurance laws to have them conform to the recently …
SAP AG must pay Oracle Corp $1.3 billion for software theft in a jury verdict that could be the largest-ever for copyright infringement. The decision, by a U.S. district court jury in Oakland California, drew a gasp from the courtroom …
The administrator of the $20-billion fund created by BP Plc to compensate Gulf of Mexico oil spill victims announced plans Wednesday for processing final payments. Administrator Kenneth Feinberg said in a news release that claimants have a choice, a lump …
Ohio Governor-elect John Kasich named Senator Steve Buehrer as administrator of the Bureau of Workers’ Compensation. Buehrer, a Republican from Delta, becomes the fourth agency director of the Kasich Administration. Buehrer has been in the Senate since 2007. He previously …
National insurance broker Brown & Brown has acquired the assets of Mavum Consulting, LLC and Mavum Risk Management, LLC of Indianapolis. With annualized revenues of approximately $1.3 million, Mavum Consulting and Mavum Risk Management provide insurance products and services to …
Ohio-based wholesale insurance broker and program administrator Breckenridge Insurance Services has acquired the assets of International Placement Services, LC (IPSICO), a wholesale insurance brokerage firm in St. Louis. Terms were not disclosed. The deal is the fourth for Breckenridge, which …
The U.S. Treasury hired Greenhill & Co. to help it dispose of its investment in bailed-out insurer American International Group, which the Treasury will own 92.1 percent of from early next year. The 18-month contract is dated Nov. 18, though …
Officials say there’s no clear explanation for what may have prompted several earthquakes near Frametown earlier this year. Some have speculated that the cluster of small earthquakes was linked to local gas drilling. Delegate Brent Boggs, D-Braxton, was sitting at …
A federal lawsuit contends that University of Miami credit history checks of job candidates discriminate unfairly against minorities. The potential class-action lawsuit filed Monday claims that use of credit histories in hiring decisions violates the Civil Rights Act. The suit …
