USI Insurance Services has acquired the personal risk services business of BBVA Compass Insurance Agency Inc. The accounts, homeowner, automobile, umbrella and other recreational policies, will be combined into the USI Phoenix, Ariz. operations. USI offers insurance brokerage and consulting …
The New Jersey Assembly passed A-4144 (An Act concerning insurance producer licensing and amending P.L.2001, c.210.) on May 14. The bill would amend the “New Jersey Insurance Producer Licensing Act of 2001” to require the commissioner of New Jersey Department …
The cost of healthcare for a typical American family of four will rise about 6.3 percent this year, or $1,456, driven in great measure by higher prescription drug prices. The latest study by the consulting and actuarial firm Milliman Inc. …
U.S. Sen. Bill Nelson, D-Fla., has filed legislation aimed at helping victims of the deadly May 12 Amtrak derailment. Nelson’s bill would raise the current $200 million cap on the amount a passenger rail company is obligated to pay victims …
PartnerRe Ltd. said it would engage in discussions with hostile bidder EXOR SpA to seek a better offer than the $6.8 billion proposal that the target company called “unacceptable.” “While we believe that PartnerRe is worth materially more than EXOR …
American International Group Inc. has acquired a controlling stake in ING Employee Benefits Global Network and renamed it AIG Global Benefits Network. The network is based in Belgium. The network’s minority shareholders are Nationale-Nederlanden in the Netherlands and France’s Malakoff …
CNA Hardy has appointed Clive Magnus as senior underwriter for energy, reporting to Carl Day, head of energy and marine. Magnus’ appointment follows a string of senior hires in the energy and marine team, including Carl Day, Matthew Bond and …
The financial repercussions of record-low interest rates in Europe were highlighted Wednesday as Vienna Insurance Group AG, eastern Europe’s biggest insurer, posted its worst first-quarter profit since the financial crisis. The insurer, based in Austria’s capital, said the effect of …
Japanese air bag manufacturer Takata Corp. is doubling a recall of potentially deadly air bags to nearly 34 million vehicles, making it the largest automotive recall in American history, U.S. safety regulators said on Tuesday. The recall involves passenger- and …
De-globalization and political conflict, large natural catastrophes, financial repression and the challenge posed by the “Internet of Things” are some of the risks identified in this year’s “New emerging risk insights” report published by Swiss Re. The publication is based …
