Danny Ly, the former controller for the California Insurance Guarantee Association, has filed a lawsuit against the association that charges it fired him after he blew the whistle about alleged financial irregularities, potential accounting fraud and other potentially illegal conduct. …
Specialty insurance brokerage Alliant Insurance Services announced today it has expanded its managing general agent (MGA) practice through the acquisition of Preferred Concepts, an insurance program underwriter and wholesale broker based in New York with additional offices in New Jersey …
BP Plc has agreed to a preliminary deal in which it will pay a record $18.7 billion to settle claims by five Gulf states and the U.S. government for the 2010 Deepwater Horizon oil spill, the worst oil spill in …
According to the latest 1st View Renewals Report from Willis Re, the relentless “period of rate reductions” in reinsurance pricing shows signs of softening with “early signs” of price stabilization “beginning to emerge in peak property catastrophe zones.” The report …
When DuPont Co. announced plans to spin off its major chemical operations in October 2013, it said the move would create a cash-generating dynamo with the leading market share in most of its businesses. The spinoff would let DuPont focus …
It’s around two months until the annual Reinsurance Rendezvous in Monte Carlo, where the reinsurers, brokers, carriers, lawyers, accountants and cat modelers discuss the state of their industry. That industry, until recently a rock solid bastion of the “we do …
XL Catlin announced the appointment of Brendan Plessis to the newly created role of head of emerging markets. In this new position, Plessis will lead the development of emerging market strategies, partnering with business leaders across XL Catlin to explore …
Specialist insurer Beazley has launched its first international business travel insurance product in the Australian market. Beazley Corporate Travel Insurance will be offered to Australian brokers and coverholders. Beazley Corporate Travel Insurance provides specialist cover for business travelers, such as …
A faulty connector sending inaccurate information and pilots mistakingly shutting down the wrong engine during a flameout led to the February crash of a TransAsia Airways Corp. plane, investigators said. Flight GE235 had a connector that failed to send right …
Marsh & McLennan Agency LLC (MMA), a subsidiary of Marsh, has acquired St. Louis, Mo.-based J.W. Terrill, one of the largest independent agencies in the Midwest. Terms of the transaction were not disclosed. This acquisition is MMA’s first in Missouri. …
