ACE USA announced that Ravi Nathan has been named Sr. VP – Global Weather, a new division within the company. He will report directly to Ed Zaccaria, president of ACE USA Specialty P&C Group. “Based in Philadelphia, Nathan is responsible …
Marsh Inc. has received an insurance brokerage license from the Insurance Regulatory Development Authority of India (IRDA). Marsh said it is among the first foreign insurance brokers to receive a license to transact business in India and that its Marsh …
In a yearly review released today Munich Re calculates the overall economic losses from natural and man-made catastrophes in 2002 at a staggering $55 billion, compared to $35 billion last year. However, the world’s biggest reinsurer estimated that insured losses …
Lloyd’s announced that it has issued accreditation to four new brokers, including the first from India, as part of its ongoing initiative, launched in 2001, to widen access to the London market. The brokers are CK Re, Harman Wicks & …
Orlando, Fla. – Lloyd’s of London Chairman Sax Riley says that you shouldn’t be in the insurance business unless you’re optimistic. Optimism, to say the least, has been in short supply in the last year or more in the industry. …
AIG may not qualify as an international conglomerate quite yet, but if it continues the way it’s going some day it just might. A report from Bangalore, India notes that a $750 million private equity fund run by AIG has …
A Court in Butler County, Ohio sentenced Ajay Chawla to serve one year in jail and pay a $1,500 fine following his conviction last August on charges of filing an insurance claim with CNA, stating that his father was missing …
Dr. Krishnaswami Sriram, 44, a cardiologist from Lake Forest pleaded guilty on Thursday to what prosecutors called a massive fraud scheme, admitting he claimed to have provided care for patients after they had died. The Chicago Tribune reported that Sriram …
The members of the International Insurance Council (IIC) at a meeting in Washington supported a resolution to dissolve the organization. In a joint statement IIC Chairman Joe Hamilton of Liberty International and IIC President and CEO Kevin T. Cronin, stated …
India’s WNS (Holding) Ltd., one of a number of companies on the sub-continent which specialize in providing back office services, will acquire the U.K.’s Town & Country Assistance, an insurance claims management service, for an undisclosed amount. While located in …
