The Texas Surplus Lines Association Inc. elected new officers and directors at its 52nd annual meeting held Nov. 3, 2008, at the Four Seasons Hotel in Austin, Texas. The new officers are: President Paul Rainey, president of RSI International Inc., …
John McGovern and Paul Duggan have joined National E&S Insurance Brokers Inc., a specialty wholesale environmental insurance broker based in Palmdale, Calif. Both McGovern and Duggan have extensive experience in selling and marketing environmental risks of all types. McGovern will …
ACE Bermuda Insurance Ltd. has announced an increase in its Integrated Occurrence capacity from $100 million to $150 million effective immediately. This additional capacity is available under ACE Bermuda’s core excess liability product – the “Occurrence First Reported” form. “ACE …
Hurricane Ike’s winds and massive waves destroyed oil platforms, tossed storage tanks and punctured pipelines. The environmental damage only now is becoming apparent: At least a half million gallons of crude oil spilled into the Gulf of Mexico and the …
The Port of New Orleans approved a $97.5 million settlement with a major insurer over damages the port sustained during Hurricane Katrina. The port said Johnston, R.I.-based FM Global had insured it for up to $145 million in hurricane damage …
University of North Texas Associate Professor Risk Management & Insurance Brenda Wells announced that one of her students, UNT senior Rachel Somerford, has received the national J.H. Blades Scholarship from the National Association of Professional Surplus Lines Organizations (NAPSLO). Each …
The AIG Companies introduced Global Supply Secure, insurance that helps mitigate the financial impact of supply chain disruptions. Jointly developed with Marsh, Global Supply Secure will be underwritten domestically by Lexington Insurance Company, a unit of AIG Commercial Insurance, and …
Liberty International Underwriters (LIU), part of Liberty Mutual Group, has launched a global crisis risk management initiative that introduces new products such as kidnap, ransom and extortion; contaminated products; and product recall. LIU’s new products, along with the trade credit, …
Surplus lines insurers continued to outperform the property/casualty industry in underwriting and operating performance in 2007, despite the softening market and more aggressive competition. Heightened competition along with the turbulent market, however, caused a slight deterioration in underwriting profitability that …
David J. Molitano has been appointed to the new position of technology errors and omissions (E&O) manager for XL Insurance, XL Capital Ltd’s global insurance operations, in the company’s Select Professional underwriting group. Molitano reports to Donald Allard, XL Insurance’s …
