U.S. insurance markets, like the rest of the nation, were caught off guard by the Sept.11, 2001 terrorist attacks. Loss of life and property led to an estimated $32.5 billion dollars in insured losses – $43 billion in 2013 dollars …
A series of earthquakes shook Interior Alaska during the Labor Day weekend, the strongest of which was a magnitude-5.07 that set off more than 200 aftershocks. The strongest quake, centered about 45 miles northwest of Fairbanks, near Minto, hit Saturday …
Pacific Northwest-based agency Propel Insurance has acquired Assurety Northwest. Assurety principals Jeff Bieker and Bryan Ludwick will join Propel as partners in Propel’s newly expanded space in downtown Portland, Ore.. Propel is a privately owned agency that provides property/casualty, risk …
Reinsurance broker Willis Re has opened a new operation in Tampa, Florida, as it continues to expand its reinsurance presence in the North American market. The Willis Re Tampa office will be led by Ken Vincent, executive vice president, who …
Nationwide Mutual Insurance Co. said it will unite all of its products and subsidiaries under its most recognizable brand— Nationwide — and drop the use of Harleysville Insurance, Scottsdale and names of other subsidiaries. Chief Executive Officer Steve Rasmussen said …
An affiliate of Principal Financial Group Inc. bought a 49 percent stake in 77 Water St., a lower Manhattan office tower in New York City, from fellow insurer Travelers Cos. for $117.6 million. The interest in the 26-story building was …
A massive sinkhole that swallowed eight sports cars won’t be a permanent attraction at the National Corvette Museum in Kentucky after all. After considering retaining and building a bridge over part of the sinkhole, the museum’s board recently voted to …
The north Florida town of Waldo has long had a reputation as a speed trap, and it’s no wonder. A small segment of highway that runs through Waldo requires drivers to speed up and slow down six times: 65 mph …
A $100 million lawsuit against a Florida billionaire over a fatal 2012 helicopter crash in the Bahamas has been dismissed. The wrongful death lawsuit filed against real estate mogul Jeffrey Soffer by the widow of attorney Lance Valdez was dismissed …
Financial industry regulators need better coordination in the event of a big multinational financial institution failing or breaching compliance rules, the world’s top supervisory bodies have concluded in a survey. Arrangements for handling failures of diverse financial groups are inadequate …
