Investments from the capital markets in various forms now provide around 14 percent of the total capital dedicated to providing reinsurance – approximately $35 billion [$17 billion in cat bonds] out of $250 billion. The question remains as to whether …
Local communities should not hire lobbyists as Alabama tries to determine how to dole out at least $1 billion in penalty funds it expects to receive as a result of the 2010 oil spill in the Gulf of Mexico, Alabama …
Thousands of farmers are filing insurance claims this year after drought and triple-digit temperatures burned up crops across the nation’s Corn Belt, and some experts are predicting record insurance losses — exacerbated by changes that reduced some growers’ premiums. G.A. …
Home Value Insurance Co. was ordered into rehabilitation by an Ohio court on Aug. 31, 2012, and has been prohibited from selling insurance in the state due to its failure to maintain minimum capital and surplus. The insurer, which originally …
The Strategic Insurance Agency Alliance (SIAA), a national alliance of over 4,000 independent insurance agencies, said four new agency members signed up in the Northeast region last month. The new members are: Capital Insurance Works of Hamlin, Penn.; Shadow Insurance …
A Rockland, Mass., woman has been indicted in connection with a scheme to fraudulently collect insurance payments of more than $28,000. The Massachusetts attorney general’s office announced last Friday that Olga O’Connor Rich, 41, has been charged with motor vehicle …
For the first time since the American Bar Association began conducting surveys of legal malpractice insurance claims beginning in 1985, insurers reported a higher percentage of claims involving real estate than any other area of law. Real estate, personal injury-plaintiff …
Marc S. Byrnes, current chairman and chief executive officer of Cleveland, Ohio,-based Oswald Companies, announced he will transition his role as CEO to Robert (Bob) J. Klonk effective Jan. 1, 2013. David C. Jacobs will continue to serve as president …
The Property Casualty Insurers Association of America (PCI) has named Nathaniel F. Wienecke its senior vice president, federal government relations. Wienecke comes to PCI after three years at JPMorgan Chase & Co., where he has served as vice president for …
The MEMIC Group, a workers’ compensation insurer headquartered in Portland, Maine, appointed Scott Valorose as a safety management consultant for its loss control operations in Massachusetts and New Hampshire. He will be based out of the company’s Manchester, N.H., office.Valorose …
