In September, RSA Insurance Group Plc Chief Executive Officer Simon Lee expanded the role of his top Irish lieutenant, Philip Smith, and praised his “outstanding record.” Two months later, he suspended him. Smith, 45, and two fellow executives were placed …
Freddie Mac bought insurance covering a portion of losses on a pool of home loans from Arch Capital Group Ltd.’s Arch Reinsurance Ltd. unit, expanding risk- sharing efforts by the government-backed company. The policy will cover as much as $77.4 …
Insured losses from weather-related events in Eastern Asia amount to only about 10 percent of the $700 billion in total losses accumulated over the last three decades, according to an analysis by Munich Re. According to the German reinsurer, the …
Credit ratings organisations from five countries are launching a new global agency, touting it as an alternative to the Big Three agencies which they say no longer meet the needs of the new globalised world. In a statement on Tuesday, …
Jerzie Eagle and Liesl Elkin pointed to their topography map that showed the eight acres of flood-prone land around Carter and Murden streets in Kokomo, Ind. This is where their arboretum will go once the city tears down the homes …
LevelFirst, a wholesale broker and managing general agency based in Dallas, Texas, has announced a new staff addition. Sara Baker has joined LevelFirst as an insurance technician. She will be responsible for handling support functions with a focus on LevelFirst …
Garden City, Kan., officials are expecting city residents to file more than $300,000 in claims after a recent sewage pump malfunction at the city’s wastewater treatment plant. The malfunction on Oct. 20 caused sewage to flood into basements of nearly …
CPro Associates, a Dallas-based surplus lines wholesaler and managing general agency, has expanded its binding authority unit. Bill Buckley was named managing and directing of binding authority at CPro. He has been in the insurance industry for 24 years and …
The Missouri Department of Insurance announced that consumers who filed complaints against their insurance companies received an additional $12.8 million in claim payments in the first three quarters of 2013. The recoveries already surpass last year’s annual amount of $11 …
Insurance agents in Austin, Texas, report the interest in homeowners obtaining flood insurance coverage has risen dramatically after two recent rains that have flooded portions of Austin and neighboring communities. Approximately 650 homes and businesses were either damaged or destroyed …
