Britain’s top financial watchdog delivered a 10-point plan to fix Libor, but stopped short of scrapping the benchmark interest rate in a much-awaited reform of a system plagued by scandal. “The system is broken and needs a complete overhaul,” said …
The UK’s insurance market for auto insurance has been referred to the Competition Commission for investigation. The Office of Fair Trading (OFT), which made the referral, expressed concerns that the structure of the market resulted in excessive costs and that …
The American Association of Insurance Services (AAIS) has released a series of new policy forms, endorsements, and corresponding schedules for covering public or private infrastructure facilities. The forms were recently released under the miscellaneous forms section of the AAIS Inland …
Tustin, Calif.-based managing general agent Yates and Associates has added two new producers and has opened a new office in Westlake Village. Caleb Whitehouse is a senior underwriter/broker and Esteban Lopes is an associate broker working out of that office. …
Richmond, Va.-headquartered Markel Corporation announced two appointments within its product line leadership group. Michael Vought, managing director of excess & umbrella within Markel’s product line leadership has been named managing director of brokerage casualty and excess & umbrella. He will …
Maryland moped riders will have to wear helmets and eye protection beginning Monday, Oct. 1. The new law also requires that motor scooters and mopeds be titled and insured.
New York City transportation officials want passengers to watch out for bicyclists when opening taxi doors.They’re expanding a safety campaign called “LOOK!”
Washington, D.C., authorities said a local man was sentenced to a year of supervised probation, a suspended sentence of three years and a $100 fine after pleading guilty to one count of second-degree insurance fraud. The sentencing was announced last …
TAPCO Underwriters Inc., a Burlington, N.C.-based managing general agent specializing in high-volume, middle-market excess and surplus insurance lines, has hired Stu Korn as a marketing representative for New Jersey, Pennsylvania and New York’s Hudson Valley where he will be responsible …
Federal investigators have concluded that pilot error caused the collision of a chemical tanker with a containership in the Houston Ship Channel in October 2011. The National Transportation Safety Board said in a statement released Sept. 25 that the collision …
