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

Wisconsin City Sues Organizer of Pub Crawl to Recoup Costs

The city of Oshkosh, Wis., is suing a man who organized a costly pub crawl without a permit. Oshkosh Northwestern Media reports the city filed a small claims lawsuit against Joseph Kubiak for money it spent on police patrolling and …

Washington Wildfire Grows, Evacuations Ordered

One central Washington wildfire has burned across 28 square miles in just two days while another has broken out in hot, dry conditions. The Mills Canyon fire near Entiat has burned across more than 18,000 acres since it started Tuesday, …

Lawson Named CEO of FM Global, Succeeding Subramaniam

FM Global said Executive Vice President Thomas A. Lawson will succeed Shivan S. Subramaniam as chief executive officer, effective Jan. 1, 2015. For now, Lawson has been appointed president and he has been elected to the board of directors, effective …

Oil Industry Releases Fracking Standards for Local Communities

An oil industry lobbying group this week unveiled voluntary standards aimed at tamping down concerns about the oil and gas production process known as horizontal drilling, or fracking, in communities around the United States. The American Petroleum Institute said it …

McClellan, McVicker Head New Zurich Contract Surety Teams

Zurich North America announced the creation of two contract surety teams focused on specific customer segments—one for middle market contract surety and one for large accounts. Tom McClellan will head up Middle Market Contract Surety and Dave McVicker will lead …

North Carolina Looks to Grow Captive Insurance with Amended Law

North Carolina Insurance Commissioner Wayne Goodwin said North Carolina is now an even more attractive home for captive insurance companies with the enactment of a law allowing new captive types and providing some regulatory flexibility. Changes to the N.C. Captive …

Georgia Agent Accused of Home, Crop Insurance Fraud

An Eastman, Georgia, insurance agent has been charged with insurance fraud and forgery in connection with homeowners and crop insurance policies she sold in the middle Georgia. Officials said warrants have been issued for the arrest of Sarah Amber Winans, …

Progressive Insurance Profit Down as Investment Gains Narrow

Progressive Corp., the fourth- largest U.S. car insurer, said second-quarter profit fell 9.6 percent as investment gains narrowed. Net income dropped to $293.4 million, or 49 cents a share, from $324.6 million, or 54 cents, a year earlier, the Mayfield …

Judge Allows $1B Malpractice Claim Against PwC Over MF Global Collapse

A federal judge on Wednesday rejected PricewaterhouseCoopers’ request to dismiss a $1 billion lawsuit accusing the auditor of providing bad accounting advice that contributed to the October 2011 collapse of MF Global Holdings Ltd, a brokerage run by former New …

Ratings Recap: Lancashire, Qatar Insurance, Tunis Re

A.M. Best has commented that the financial strength rating of ‘A’ (Excellent) and the issuer credit ratings of “a” of Qatar Insurance Company S.A.Q. (QIC) and its main subsidiaries remain unchanged following QIC’s acquisition of Antares Holdings Limited. Best added …