People – East
Holborn Corp., a reinsurance intermediary based in New York, said John Gilbert has stepped down as chairman of the board of directors, a position he has held since 2005. Gilbert — who joined the firm 50 years ago — will …
Wind Claims from Hurricane Isaac Only Part of the Story
Insurance claims from Hurricane Isaac, which made landfall in far Southeast Louisiana on Aug. 28, could climb to $1.2 billion, according to one catastrophe modeling firm. AIR Worldwide estimated losses at $1.2 billion, but added they could range from $700 …
Lawsuit Says Travel Agencies Conspired with Hotels
A California lawsuit claims online travel agencies like Travelocity conspired with hotels to fix room prices nationwide. The suit filed in San Francisco federal court claims the Hilton Hotels, Sheraton Hotels & Resorts, Marriott International and others fixed prices with …
49ers, NFL Sued by Fans Attacked During SF Game
Two San Francisco 49ers fans who were attacked during a preseason home game against the rival Oakland Raiders have sued the team, parking lot security firm and National Football League. Daniel Long and Gabriel Navarrette, both 26, claim the defendants …
Employers’ Workers’ Comp Costs, Workers’ Benefits Continue to Fall: Study
Workers’ compensation benefits declined to $57.5 billion in 2010, according to a report by the National Academy of Social Insurance (NASI). The drop in workers’ compensation benefits was largely due to a 2.1 percent drop in medical benefits for injured …
People – Midwest
Hastings Mutual Insurance Co., a regional property/casualty insurer based in Hastings, Mich., has welcomed new President, CEO and Chairman Joseph J. Babiak Jr. Babiak joined Hastings Mutual in 2001 as the chief financial officer. During the past three years, Babiak …
People – Southeast
Dr. Therese M. Vaughan announced she will step down as chief executive officer of the organization of state insurance regulators, the National Association of Insurance Commissioners (NAIC), during the first quarter of 2013, a post she has held three and …
Travelers Says Home Association Policy Excludes Trayvon Martin’s Mother’s Claim
Trayvon Martin’s mother Sybrina Fulton 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. Documents filed by the gated …
Declarations – South Central
8 Inches, 13 Feet “The storm stayed over the top of us. For Katrina, we got 8 inches of water. Now we have 13 feet.” –Joshua Brockhaus, an electrician in Louisiana’s low-lying Plaquemines Parish, after rescuing neighbors stranded in Hurricane …
Lower Catastrophe Losses Boost P/C Insurers’ Earnings in Q2: Moody’s
U.S. property/casualty insurers reported significantly higher net income in the second quarter of 2012 relative to 2011, driven by lower catastrophe losses and increased growth in earned premiums, said Moody’s Investors Service. Yet operating income — excluding the positive impact …
