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Monthly Archives: <span>February 2017</span>

Who Will Foot the Bill for San Francisco’s $750M Millennium Tower?

Nina Agabian, a retired director of research in global health science at the University of California, bought a 29th-floor apartment in San Francisco’s Millennium Tower in 2010. “It was supposed to be a wonderful building,” she said in January, sitting …

Marsh Reports 2016 and Q4 Results

Global insurance and consulting firm Marsh & McLennan Companies Inc. reported financial results for the fourth quarter and full 2016 year showing underlying revenue growth of 3 percent on a consolidated basis, including 5 percent growth in Risk & Insurance …

Strong Chubb 2016 Results Reflect Benefits of Merger: Greenberg

Chubb Limited CEO and Chairman Evan G Greenberg said that the company’s 2016 financial results have reflected the benefits of the nearly $30 billion ACE/Chubb merger that created today’s Chubb about one year ago. “Operationally and culturally, our integration efforts …

Swiss Re & SAP Partner to Develop Financial Steering & Reporting Solution

Swiss Re has formed a strategic partnership with SAP SE, the enterprise application software company, to develop a solution to address the increasingly complex demands of global regulators, in the areas of financial steering and reporting. Insurance companies currently must …

Amtrak Engineer Sues Railroad Over Deadly Pennsylvania Train Crash

The Amtrak engineer involved in a deadly 2015 crash in Philadelphia, Pennsylvania, has sued the railroad, saying it failed to address reports that people were throwing projectiles at trains. Brandon Bostian, 33, said he was left disoriented or unconscious when …

Eastern Insurance Group Acquires Chase and Lunt in Massachusetts

Eastern Insurance Group LLC, a wholly owned, Natick, Mass., headquartered subsidiary of Eastern Bank, has acquired the assets of the Chase and Lunt Insurance Agency LLC, a full-service insurance agency located in Newburyport, Mass. The deal, which combines the two …

Man Convicted of Burning Down His Rhode Island Restaurant to Collect Insurance

A Massachusetts man has been convicted of burning down a restaurant he owned in Rhode Island. Federal prosecutors say 51-year-old Daniel Saad was attempting to collect on a nearly $1 million insurance policy when he set fire to Snow’s Clam …

Insurers Won’t Pay Boat Owner’s Claim in Rhode Island Lost-at-Sea Case

Insurers say they will not cover the loss of a boat owned by a Vermont man that sank off Rhode Island with his mother aboard. Nathan Carman and his mother, 54-year-old Linda Carman of Middletown, Connecticut, left on a fishing …

CNA Hardy Appoints AIG’s Beelders as Head of Multinational

CNA Hardy, a specialist commercial insurance provider within the Lloyd’s and company markets, announced the appointment of Jason Beelders as assistant vice president, head of Multinational. Reporting to Patrick Gage, chief underwriting officer, Beelders will be responsible for the strategic …

Uber Suspends Service in Taiwan After Authorities Raise Fines

Uber Technologies Inc. said it will suspend its service in Taiwan from Feb. 10, firing the latest salvo in the ride-hailing service company’s long-running dispute with the island’s authorities. Uber’s move comes after Taiwan recently raised fines against unlicensed ride-sharing …