On Monday Canada became the first country to announce it would withdraw from the Kyoto protocol on climate change, dealing a symbolic blow to the already troubled global treaty. Environment Minister Peter Kent broke the news on his return from …
AXIS Capital Holdings announced that John R. Charman will retire as CEO and President effective May 3, 2012, the date of the Company’s 2012 Annual General Meeting of Shareholders. He was the principle founder of the company in 2001. Albert …
Some in the insurance industry are staking their futures on the reputations of others. That is, they are looking to insure reputational risk. With the boom in social media, interest in reputational risk has itself boomed. The term refers to …
A project to clean up contamination caused by a former dry cleaner at a Bozeman, Mont. shopping center may take 30 more years and cost the city a total of $7.4 million. City commissioners voted earlier this week to sign …
Willis Capital Markets & Advisory (WCMA), part of Willis Group Holdings, announced it has structured and placed a $200 million catastrophe bond transaction for the California State Compensation Insurance Fund. The Golden State Re Ltd. transaction is the first cat …
A coalition is pushing for a new seat belt enforcement law after a study showed that seat belt use in Massachusetts is among the lowest in the country. According to a University of Massachusetts study prepared for the state, seat …
Maine insurance regulators have approved another drop in the state’s workers’ compensation rates — the second in less than a month. A 3.2 percent decrease announced on Nov. 18 was expected to reduce workers’ compensation insurance premiums by $6.1 million …
Frank Sztuk of Hanover Insurance was elected co-chair of the Coalition Against Insurance Fraud at the public-interest group’s annual membership meeting last week. Sztuk is Hanover’s National Special Investigation Unit (SIU) strategist and has chaired the Massachusetts fraud bureau. He …
Connecticut insurance department announced that it has updated its coastal underwriting guidelines to clarify when hurricane deductibles can be applied. The hurricane deductible issue has been in the spotlight in wake of Tropical Storm Irene. Some policyholders in Connecticut saw …
A joint committee of state lawmakers over the next year will be looking in to alternatives for providing property insurance along the Texas coast. Texas House Speaker Joe Straus, R-San Antonio, has announced Texas House appointments to the Joint Interim …
