Two members of the U.S. House of Representatives’ Committee on Financial Services have announced plans they will introduce legislation that will create national standards for how states regulate the surplus lines market and reinsurance as well as a uniform system …
New Orleans-headquartered insurance wholesaler Burnett Holdings Inc. (Burnett) announced it has been acquired by QBE Holdings Inc. (QBE), part of Sydney, Australia-based QBE Insurance Group. The acquisition is effective from Dec. 31, 2008. The company will continue to operate under …
Willis Re, the reinsurance arm of global broker Willis Group Holdings, announced the appointment of 17 professionals “to extend the global growth of the unit’s specialty lines business.” Willis said the brokers, “currently with specialty reinsurance broker Carvill, will join …
Richmond, Virginia-based Markel Corp. announced the promotion of Britt Glisson to chief administrative officer. He will be responsible for assuring efficient, cost effective operations for Markel Corp. in North America. Glisson has been with Markel since 1990, first as chief …
Maurice “Hank” Greenberg, the man who ran American International Group for nearly 40 years and who now runs C.V. Starr & Co., is being reunited with some executives who used to work under him when he ran AIG. C.V. Starr …
Pasadena, Calif.-based Western Security Surplus Insurance Brokers Inc. announced it has expanded its TeleQuotes program to Nevada, Oregon and Colorado. Now agents in those three states, plus California and Texas, can quickly get excess and surplus quotes on small accounts. …
Nicholas Schroeder is the first executive director of the new Surplus Lines Association of Minnesota (SLAM), a non-profit organization of brokers of insurance that is placed with companies that are not licensed in Minnesota. Schroeder previously worked as a commercial …
The Financial Services Authority and Lloyd’s have given approval for a new managing agency to assume the management of the Sportscover syndicate, 3334 SCS. The new managing agency, Sportscover Underwriting Limited (SCU), commenced operating on December 24, 2008. “Sportscover’s syndicate …
AIG Commercial Insurance will service all casualty insurance coverage for the public sector through its Lexington Insurance Co., the insurer announced. Specifically, effective as of Jan. 1, 2009, Lexington’s Casualty Division will manage the public entity commercial umbrella and excess …
Heavy-metal contaminants left by an Oklahoma zinc smelter that closed more than eight decades ago will be cleaned up through a $6.6 million plan chosen by the U.S. Environmental Protection Agency. The former Tulsa Fuel and Manufacturing site near Collinsville, …
