Monthly Archives: <span>August 2012</span>

XL Names Chief Underwriting Officer for Primary Casualty Unit in N.Y.

XL Group plc has appointed Barbara Luck as chief underwriting officer in its North America primary casualty business. Based in New York, Luck will assume her new position on August 13. She will report to Ken Riegler, president of XL …

U.S. Regulators Angered By N.Y. Action Against StanChart

The U.S. Treasury Department and Federal Reserve were blindsided and angered by New York’s banking regulator’s decision to launch an explosive attack on Standard Chartered Plc over $250 billion in alleged money laundering transactions tied to Iran, sources familiar with …

Son of N.Y. Man Who Vanished at Beach Is Charged With Insurance Fraud

A man who reported his father missing at a New York beach was charged Monday with insurance fraud and filing a false report several days after his father turned up alive in South Carolina, following a massive air and water …

Travelers Insurance Says Policy Excludes Trayvon Martin’s Mother’s Claim

Trayvon Martin’s mother is asking for at least $75,000 from the homeowners’ association of the gated community where her teenage son was fatally shot by neighborhood watch volunteer George Zimmerman, court documents show. Sybrina Fulton also has asked for an …

Insurance Industry Poised to Add Jobs Over Next Year: Survey

Insurance industry hiring appears to be steady with 54.5 percent of companies saying they intend to increase staff and 77.4 percent expect to grow revenue. If the industry follows through on its plans, there will be a one percent increase …

Bay Area Refinery Fire Rekindles Memories of 2007 Blaze

For San Francisco Bay Area residents and West Coast oil traders, the Monday evening fire that struck California’s second-largest oil refinery was a flashback to a blaze five years earlier with remarkable similarities. Both began with a leak at the …

Employers Stressing Health Incentives for Employees: Aon

U.S. employers are increasingly utilizing monetary and other incentives to encourage employees and their families to become active in health and fitness programs and take better care of themselves, according to new survey findings from Aon Hewitt. Aon Hewitt’s survey …

Kentucky Judge to Review Christians-Only Health Plan Case

A judge will consider whether a Christians-only health care plan should be held in contempt of court more than a year after the Kentucky Supreme Court subjected it to stricter regulations that could have meant its demise in the state. …

Ratings Recap: Mapfre Panama, Infrassure, Lemma

A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Mapfre Panama, SA, both with stable outlooks. Best said the “ratings reflect Mapfre Panama’s solid capitalization, consistent overall earnings, generally favorable …

Despite GOP Governors, Feds Building Health Insurance Exchanges

Don’t look now: The feds may be gaining on GOP governors who’ve balked at carrying out a key part of President Barack Obama’s health care overhaul law. Opponents of the law say they won’t set up new private health insurance …