Cooper Gay Swett & Crawford (CGSC) has announced the acquisition of independent Lloyd’s insurance and reinsurance brokerage group Newman Martin and Buchan (NMB), subject to regulatory approval from the UK Financial Conduct Authority. The announcement explained that NMB and Cooper …
Prudential Financial Inc., the second-largest U.S. life insurer, was designated systemically important in a 7-to-2 vote by a council of regulators charged with preventing another crisis. Edward DeMarco, acting director of the Federal Housing Finance Agency, and Roy Woodall, a …
The European Union and Singapore have finalized the details of one of the world’s most comprehensive free trade agreements, a pact the EU sees as a stepping stone towards a wider deal with booming economies in Southeast Asia. The European …
Swiss Re said it estimates industry wide insured losses from the hail storms in northern and Southern Germany in July will be between $2.0 and $2.7 billion, while it’s estimating its own claims burden to be approximately $240 million. The …
According to catastrophe modeling firm AIR Worldwide, Severe Typhoon Usagi, the 19th named storm to form in the Northwest Pacific this year, “made landfall near the city of Shanwei (150 kilometers [94 miles] northeast of Hong Kong) in the Chinese …
A Philadelphia, Miss., man has been charged with multiple counts of insurance fraud. Attorney General Jim Hood said in a news release that 46-year-old Phillip Willis was indicted in Neshoba County on three counts of false pretense. Willis has been …
Pressure continues to build in Congress to delay implementation of flood insurance reforms that are raising premiums for thousands of property owners across the country. But the man in charge of administering the program says he does not have the …
The property insurer of last resort in Louisiana plans to lower rates for commercial policyholders. The 352 commercial policyholders Louisiana Citizens Property Insurance Corp. covers in coastal areas.would see rates drop an average of 23.8 percent. The rest of Citizens’ …
The Hanover Insurance Company does a lot of business in Oklahoma and plans to keep it that way. Responding to an article published on Insurance Journal‘s website, www.insurancejournal.com, that inaccurately reported the company was leaving the state, The Hanover said …
An insurance agent from Houston has been sentenced to 10 years in prison for pocketing more than $250,000 in customer premiums, the Texas Department of Insurance reported. TDI said McKinley Shumate, 59, of Houston was sentenced to 10 years in …
