Kate Westover, vice president of Alternative Risk Financing at Innovative Captive Strategies, has received the 2009 Distinguished Service Award from the Captive Insurance Companies Association (CICA). Based in Colchester, Vermont, Westover has 20 years experience in the captive insurance industry …
Elizabeth Demaret, managing director of Arthur J. Gallagher, has been appointed chairwoman of the World Federation of Insurance Intermediaries (WFII), an international association representing intermediaries from around the world. Based in Chicago, Demaret is one of six WFII World Council …
The U.S. Treasury is expected to propose within days the creation of a “systemic risk regulator,” probably the Federal Reserve, to oversee banking and market problems that could threaten the economy. On both sides of the Atlantic, “tunnel vision” is …
Goldman Sachs Group and a parade of European banks were the major beneficiaries of $93 billion in payments from American International Group — more than half of the U.S. taxpayer money spent to rescue the massive insurer. The revelation on …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit rating (ICR) of “aa” of Germany’s Allianz Societas Europaea (Allianz SE) and its main subsidiaries. The outlook for all of the ratings is …
European Union plans to beef up financial supervision may be replicated globally, though much will hinge on how the United States responds, a top official from the bloc’s executive arm said on Monday. A high-level committee headed by a former …
Testimony by New York Insurance Superintendent Eric Dinallo to the United States Senate Committee on Banking, Housing and Urban Affairs Hearing on “American International Group: Examining What Went Wrong, Government Intervention, and Implications for Future regulaltion.” I would like to …
EU leaders backed a blueprint on Sunday for streamlining how banks are supervised designed to spot excessive risk earlier to better protect investors. An emergency summit of European Union leaders on the economic crisis stressed the need to improve regulation …
The European Union should set up two bodies to coordinate oversight of financial institutions across Europe, according to a report on Wednesday which disappointed those seeking simpler structures with more teeth. Part of efforts to restore investors’ confidence burnt by …
Catastrophe risk modeling firm AIR Worldwide has updated its insured loss estimates of property losses in France from winter storm Klaus to between 500 million and 1 billion Euros. These losses represent damage to buildings and contents of onshore residential, …
