Standard & Poor’s offered a note of caution about the reauthorization of the federal terrorism reinsurance program, warning that changes made by Congress to boost co-insurance and deductibles could hurt small insurers moving forward. The revised Terrorism Risk Insurance Act, …
BP Plc and Anadarko Petroleum Corp. narrowly failed to persuade a U.S appeals court to reconsider its 2014 ruling that they could face civil fines under federal pollution laws over the 2010 Gulf of Mexico oil spill. By a 7-6 …
Michael Consedine, Pennsylvania’s insurance commissioner and president-elect of the National Association of Insurance Commissioners (NAIC), will leave the Insurance Department after Democratic Gov.-elect Tom Wolf is sworn in as the 47th governor of Pennsylvania on Jan. 20.
Cook & Company Insurance Services Inc., an insurance and risk management services firm in Marshfield, Massachusetts, has promoted Sue Shillue to president. She succeeds Peter A. Cook who was named managing director of business development at Cook & Company’s parent …
Effective Jan. 1, 2015, The Walker Group, an AmWINS Group company, has changed its name to AmWINS Brokerage of New York to expand AmWINS Group’s brand in New York state. Located in Syracuse and Amherst, New York, The Walker Group …
XL Group Plc said it would buy underwriter Catlin Group Ltd. for about 2.79 billion pounds ($4.22 billion), increasing the Dublin-based insurer’s share of business written in the Lloyd’s of London market to nearly 10 percent. The deal is the …
Investors such as hedge funds and pensions are becoming more sophisticated as they partner with insurers, XL Group Plc Chief Executive Officer Mike McGavick said. In the past, capital-markets partners would “pat you on the head and they’d say, ‘You …
The owner of a New Jersey-based insurance adjusting company was sentenced on Thursday to 32 months in prison for his role in a scheme to defraud the N.J. Turnpike Authority (NJTA) and various insurance companies of at least $900,000. Robert …
New York Attorney General Eric T. Schneiderman announced the arrests of five individuals for their alleged roles staging auto accidents in New York’s Nassau and Suffolk counties to fraudulently receive insurance payouts. The defendant are charged with participating in a …
Some Texas lawmakers say prescription drugs can be bettered monitored by moving the state’s database out of the Department of Public Safety. House and Senate committees that studied the issue recommend that the State Board of Pharmacy take over the …
