The insurance industry is not particularly well known for its flamboyant personalities. So, when one does emerge, they make news. It’s not too surprising therefore to find Willis’ CEO Joe Plumeri as the subject of an in depth profile on …
Should P/C Industry Response to Ethical Lapses Include a Self-Regulatory Body? The property casualty industry’s leading educational society is weighing what role to play in helping the industry restore its image after months of charges about bid rigging and contingent …
Eliot Spitzer’s “reckless efforts to land himself on the front page” with high-profile investigations of America’s financial institutions are “making it harder to do business and create jobs in New York,” according to state GOP Chairman Stephen Minarik. The line …
The recent $190 million settlement between the world’s second largest insurance broker, Aon, and officials in three states sheds light on how, as New York Attorney General Eliot Spitzer and other public officials warned, their insurance investigations are not confined …
General Reinsurance, a subsidiary of Berkshire Hathaway Inc., has been subpoenaed in an investigation of Reciprocal of America, a former Virginia-based professional liability insurer whose collapse is considered one of the largest insurance fraud cases in that state’s history. The …
The recent $190 million settlement between the world’s second largest insurance broker, Aon, and officials in three states sheds light on how, as New York Attorney General Eliot Spitzer and other public officials previously warned, their insurance investigations are not …
According to a Reuters report, Ace Ltd. said on Wednesday it has received 43 subpoenas, interrogatories, civil investigative demands and letters of inquiry in relation to the investigations of insurance industry practices. In its annual report filed with the U.S. …
“I’m willing to meet with just about anyone to sit down and discuss issues. That’s the most effective and efficient way to uncover and deal with problems.” Well, meet with almost anyone. Connecticut Insurance Commissioner Susan Cogswell prides herself on …
The fallout from the investigations into conflicts of interest and questionable practices in the U.S insurance business spearheaded by New York Attorney General Eliot Spitzer has reached into the board room of one of the world’s largest insurers and accelerated …
Bermuda-based AXIS Capital Holdings Limited announced that Marsh & McLennan Risk Capital Holdings, Ltd., a subsidiary of Marsh & McLennan Companies, Inc., has agreed to sell 3.7 million of AXIS Capital’s common shares in a block trade. “Merrill Lynch has …
