American International Group, Inc. (AIG) announced voluntary restrictions on executive compensation that include a $1 salary for its chief executive officer; no 2008 annual bonuses and no salary increases through 2009 for AIG’s top-seven-officers; and no salary increases through 2009 …
Governor Blagojevich has named Amy J. Masters as acting chairman of the Illinois Workers’ Compensation Commission (IWCC), effective Nove. 21, 2008. Chairman Masters first joined the Commission in 2003. She has served as the secretary of the Commission and operations …
Dennis Marvin, vice president of Ocean Marine for Max Specialty, was elected chairman of the American Institute of Marine Underwriters (AIMU) at its annual meeting. Marvin succeeds Richard J. Decker, president of AIG Global Marine, who completed his two-year term …
Zurich Financial Services announced that Mario Vitale has been promoted to CEO of its Global Corporate business division. He replaces Geoff Riddell who will assume additional responsibilities overseeing Zurich’s operations in the Asia-Pacific and Middle East regions (See related article). …
Victor K. Fung, Chairman of the International Chamber of Commerce (ICC), has welcomed the statement from the G20 Summit, held on 15 November in Washington, DC for the significant initiatives agreed by the attending leaders to achieve “an ambitious and …
Farmers Group Inc., a Los Angeles-based subsidiary of Zurich Financial Services Group, has promoted Paul Hopkins to Chairman of the Board. In addition, Hopkins will assume responsibilities overseeing Zurich’s Latin America operations. Previously, Hopkins was CEO. Bob Woudstra, formerly president …
Arch Capital Group announced that Gordon (Gord) Kerr has accepted the position of CEO and Chief Agent of Arch Insurance Group’s Canadian insurance operations. Arch Insurance Group is a division of Arch Capital Group. The bulletin noted that Kerr previously …
New Nationwide Entity to Target Smaller U.S.-Based Companies with Less Complex Needs, Says CEO Butcher Global insurance broker Marsh, accustomed to handling large and complex insurance accounts, has its eye on the $80 billion in insurance premium paid by smaller …
Gov. Marc Racicot will leave his position as the president and CEO of the American Insurance Association (AIA), effective Feb. 1, 2009. Racicot served more than three years as the leader of the the AIA, a property/casualty insurer trade association. …
Maurice “Hank” Greenberg, former CEO of American International Group Inc., said he would consider buying AIG’s Asian life insurance operations if the firm were to put this flagship business on the market. AIG, once the world’s biggest insurer by market …
