“Disaster resilience should be encoded into the global financial system,” said James Vickers, Chairman of Willis Re International, in an interview at the Reinsurance Rendezvous in Monte Carlo. “It’s a big opportunity for the insurance industry.” Vickers was addressing the …
The round hay bales in the Saco flats have turned dark with mud and mildew. The high-water mark rises halfway up these slumping, soggy bales – thousands of which dot the fields along U.S. Highway 12 – bearing the ruin …
FM Global has promoted six executives to new senior management roles, effective Oct. 1, 2014. Bret N. Ahnell, senior vice president, Western division manager, will become an executive vice president. He will oversee various divisions within the company, including underwriting …
Berkley FinSecure, a W. R. Berkley company based in Towson, Maryland, has promoted Jon Martin to vice president and director of sales. In his new role, Martin will be responsible for management of Berkley FinSecure’s nationwide network of regional sales …
A week ago, Hurricane Norbert pumped tropical moisture across the U.S. Southwest, touching off record rainfall in Phoenix and Tucson that killed at least two people, flooded hundreds of homes and shut highways throughout the region. This week, Hurricane Odile …
The Detroit-Warren-Ann Arbor metropolitan area has higher auto insurance rates than any other top 25 metro area in the United States. It wasn’t even close, according to the financial information provider (Bankrate Insurance) quoted in USA Today. With average rates …
Large businesses and government agencies have been getting a big break on premiums in Mississippi’s coastal insurer of last resort, but it’s coming to an end. Mississippi Windstorm Underwriting Association representatives told the Sun Herald that the wind pool’s residential …
After months of uncertainty, the merger of ACP Re Ltd. and struggling reinsurer Tower Group International has finally closed. Bermuda-based ACP Re and Tower announced on Sept. 12 that all regulatory approvals were in place relating to ACP Re’s acquisition …
Vehicle crash deaths are significantly up in parts of Texas where oil and gas production is booming the most. The Houston Chronicle reports that deaths rose more than 50 percent in the West Texas counties located on the Permian Basin. …
Brown County is receiving more than $150,000 in grant funding to help install a new floodgate where Crow Creek meets the James River. The American News in Aberdeen reports that Brown County has been planning for several years to replace …
