“You always find out who’s been swimming naked when the tide goes out. We found out that Wall Street has been kind of a nudist beach.” —Warren Buffett on the credit crisis “As a strong supporter of free enterprise, I …
A lot happened in the world of insurance agency/brokerage mergers and acquisitions in 2008. Willis made the biggest slash with its $2.1 billion acquisition of Hilb Rogal & Hobbs Co. (HRH), one of the world’s largest insurance brokers and risk …
Insurers Can Weather Global Financial Crisis Buyers that aren’t buying; houses that aren’t selling, banks that aren’t lending — sound familiar? But in this case it’s the United Kingdom that we’re talking about, not the United States. However, one thing …
Brown & Brown December: Stewart & Tunno Insurance Agency Inc., Portland, Ore. November: Small Business Unit of Conner Strong, Cherry Hill, N.J.; Agency Associates Inc., Zionsville; Health Insurance Exchange, Seattle, Wash. October: Al Phillips Insurance Agency, Nashville, Tenn. August: Advanced …
A report from Willis Group Holding notes that a “majority of attendees at a recent Financial Institutions seminar hosted by Willis, believe that financial lines insurance will play a more prominent role in their companies’ protection in the future. “Of …
Lloyd’s of London announced that “following his re-election to Council, the Council of Lloyd’s has re-appointed Lord Peter Levene as Chairman of Lloyd’s.” The bulletin added that the “decision comes after the Legislative Reform Order to amend the Lloyd’s Act …
A bulletin from Willis Group Holdings London office notes that the “most significant factor in the run up to Marine Protection & Indemnity (P&I) renewals this February is the impact the global economic crisis has had on P&I Club reserves …
Marsh’s London office announced that it has appointed Rod Ratsma as managing consultant in its UK Business Continuity Management (BCM) team. ” The bulletin notes that he is a “highly respected pioneer in the fields of business continuity and disaster …
Aon has issued a warning from its London office to UK companies, which indicates that they may “face new insurance claim burdens in 2009 with fraud on the increase and spiraling legal fees.” Aon also said that, “new environmental threats, …
Risk Management Solutions announced from its London office that Munich Re is extending its “state-of-the-art” risk research and quantification capabilities through a cooperation agreement with RMS. “Munich Re and RMS will embark on research in new and also in emerging …
