Monthly Archives: <span>April 2014</span>

Allied World Posts $177 Million Q1 Net Income; Underwriting, Investment Gains

Allied World Assurance Company Holdings, AG reported net income of $177.0 million, or $5.23 per diluted share, for the first quarter of 2014 compared to net income of $159.0 million, or $4.49 per diluted share, for the first quarter of …

Florida Ban on Gun Ownership in Insurance Underwriting Goes to Governor

A Florida bill that would forbid insurance companies from refusing to serve or charging higher rates to applicants based on their ownership of a firearm has been sent to Gov. Rick Scott to sign. The measure passed the House 74-44 …

Port Authority Wrestles with World Trade Center Financing

The Port Authority of New York and New Jersey’s failure to agree to a loan guarantee for World Trade Center site developer Larry Silverstein shows agency leaders are wrestling over its direction as they seek to fix the dysfunction exposed …

University of Kentucky Turns to Cameras, ID Cards to Fight Crime

Campus police at the University of Kentucky say new surveillance cameras are helping them fight crime. UK Police Chief Joe Monroe told WKYT-TV that the school has 400 cameras installed so far and another 1,600 are planned. He says security …

Why Not Renewing TRIA Could Cost Government More Than Renewing It

Ending the federal terrorism risk insurance program could end up costing the federal government more than if the program, TRIA, is allowed to continue, according to a RAND Corp. study. The analysis finds that in a terrorist attack with losses …

Hackers Target Global Tanker, Container Shipping Fleet

The next hacker playground: the open seas – and the oil tankers and container vessels that ship 90 percent of the goods moved around the planet. In this internet age, as more devices are hooked up online, so they become …

UK Insurer Saga Could Announce $5 Billion IPO Next Week

British over-50s insurer Saga is planning to announce its intention to float next week in a London stock market debut that could value the company at £3 billion ($5.1 billion), two sources familiar with the matter said on Wednesday. The …

Divers Continue Search as South Korea Ferry Probe Turns to Cargo

Divers retrieved more bodies from a South Korean ferry that sank last week, as investigators turned their attention to whether the vessel had been carrying more cargo than it was designed to hold. The official death toll reached 159 today, …

Judge Denies New York Fed Employee Whistleblower Protection Over Firing

A federal judge on Wednesday dismissed a lawsuit against the Federal Reserve Bank of New York by a former bank examiner who claimed the Fed fired her after she refused to change certain findings about Goldman Sachs Group Inc. U.S. …

MEMIC Adds to Underwriting Teams in Virginia, Maryland and Florida

The MEMIC Group has appointed three underwriters for its territories in Virginia, Maryland and Florida. Timothy Cook, Michael Diamond and Scott Meinke joined the group’s underwriting team as senior production underwriters. Cook brings 30 years of experience in the insurance …