The Hanalei community on Kauai was hit with 13 inches of rain in 24 hours last week, and bore the brunt of the storm’s flood damage. County officials say it will cost $500,000 to repair a pipeline that brings water …
The Bermuda-based Max Capital Group has appointed David Kalainoff as President of Reinsurance Operations. He joined Max in 2003, most recently serving as Managing Director Reinsurance and Executive Vice President and Chief Underwriting Officer, Casualty Reinsurance of Max Bermuda. Kalainoff …
The former bookkeeper for a Pittsburgh insurance agency has pleaded guilty to mail fraud for stealing more than $432,000 from the business. Federal prosecutors say 45-year-old Debrah Wenig, of Pittsburgh, was one of two people needed to sign checks for …
A.M. Best Co. has downgraded the issuer credit ratings (ICR) and senior debt ratings to “ccc” from “b-” of Canadian insurer Kingsway Financial Services Inc. (KFSI) and Kingsway America Inc. (KAI), which is based in Illinois. Best also downgraded the …
More than 300,000 current and former policyholders of General American Life Insurance Co. will soon receive $75 million in distribution payments, according to the Missouri Department of Insurance. In 1999, the Missouri DOI placed General American’s parent company, General American …
American International Group Inc., the insurer that received billions of dollars in a U.S. bailout, has been authorized by its board to pay Chief Executive Robert Benmosche’s $7 million compensation, after it laid to rest concerns that he may quit …
The Professional Liability Underwriting Society (PLUS) has recognized Dr. William Feldhaus with the organization’s 2009 PLUS Founders Award. The Founders Award, which was presented at the group’s annual meeting in Chicago earlier this month, recognizes a member of PLUS who …
Allen Stanford, who faces U.S. criminal and civil charges for allegedly leading a $7 billion Ponzi scheme, is suing Lloyd’s of London for defense costs. Lloyd’s had advanced some legal fees under a directors and officers policy. But the insurer …
Lloyd’s and international insurer Beazley announced that underwriters placing business for the company now have access to the Lloyd’s Exchange. The processing system will enable them to “undertake electronic placing, endorsements and other market initiatives,” said the bulletin, adding that …
Iowa Sen. Chuck Grassley wants Midwest disaster victims to have more to time to benefit from tax relief intended to help with the repair or replacement of damaged homes. Grassley has introduced legislation that would extend the deadline for applying …
