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

NAIC Hiring Consultant to Review Its Decision-Making, Governance

The national organization for state insurance regulators, which has been telling federal and international regulators how they should govern the industry, has decided to engage a consultant to audit its own governance and policy-making practices. The National Association of Insurance …

USG Insurance adds Chang in Southern California

USG Insurance Services Inc. added Perry Chang as producer/broker in its Irvine, Calif. office. Chang most recently held the position of broker at Scottish American. Past positions include vice president of sales at Artisan Risk & Insurance Services, a broker …

Shipwrecked Concordia Floated for Tow to Genoa

The shipwrecked Costa Concordia was successfully refloated Monday in preparation to be towed away for scrapping, 30 months after it struck a reef and capsized, killing 32 people. Authorities expressed satisfaction that the operation to float the Concordia from an …

Report: Data Breaches Cost N.Y. Businesses $1.37B Last Year

Security breaches exposing consumers’ personal information are becoming larger and more frequent in New York, costing businesses more than $1.37 billion last year, the state attorney general’s office said. Data breaches in the state more than tripled from 2006 to …

Oil, Rail Firms Propose Phasing Out Old Tank Cars

The oil industry and the railroads that haul its crude have offered U.S. regulators a joint plan to phase out a type of older tank car tied to a spate of fiery accidents, according to two people familiar with the …

Hancock to Get $11.8 Million as Next AIG CEO

American International Group Inc.’s Peter Hancock will get a compensation package of $11.8 million a year as the insurer’s new chief executive officer. The short-term incentive will be $3.2 million of cash and the long-term will be $7 million in …

Former Dewey Law Firm Leaders Ask Judge to Dismiss Criminal Case

Former leaders of the defunct law firm Dewey & LeBoeuf have asked a New York state judge to dismiss criminal charges against them, saying they should not be made “scapegoats” for the firm’s downfall. In court papers filed in Manhattan …

Lyft Delays New York City Start, Avoids Court-Ordered Shutdown

Lyft Inc., the car-sharing business vying with Uber Technologies Inc. for customers hailing rides with smartphones, agreed to further postpone its start in New York City and avoided a court-ordered shutdown sought by the city and state. A Manhattan judge …

Everest Re Group Names Carrier European General Manager

The Bermuda-based Everest Re Group, Ltd. announced that Andrew Carrier will be joining the Company as President of Everest Advisors, UK and General Manager of European Operations, as of November 3, 2014. Carrier will join Everest from Argo Group where …

Typhoon Rammasun Targets the Philippines; AccuWeather Report

A bulletin from the AccuWeather Global Weather Center reports that “Typhoon Rammasun is on track to threaten the Philippines Tuesday and Wednesday. “Rammasun strengthened back to a tropical storm early Sunday morning local time after briefly weakening to a tropical …