Lexington Insurance Co., an AIG company, has increased its capacity for commercial domestic property insurance by an additional $1 billion, raising the total non-catastrophe property capacity to $1.5 billion. Lexington’s additional $1 billion capacity covers North American-based commercial occupancies on …
Standard & Poor’s Ratings Services new report -“One In Four Of Europe’s Insurers Could Face Major Strategic Decisions Under Solvency II” – concludes that the regulations, which are scheduled to come into force in 2012, “will have a profound impact …
ACE has announced the launch of ACE PFI (Private Finance Initiative), which it describes as a “fully integrated insurance solution providing comprehensive cover and risk management advice for all aspects of a PFI project, from construction through to commissioning, handover …
Kentucky lawmakers are taking steps aimed at improving the safety of amusement rides in the wake of a grisly accident last year that severed the feet of a girl at Six Flags Kentucky Kingdom in Louisville. A Senate committee approved …
The Port Authority of New York and New Jersey can collect insurance only for damage inflicted on two buildings of the World Trade Center site destroyed on Sept. 11, 2001, rather than for the entire complex, a U.S. District Court …
People Ken Ross has been named commissioner of the Michigan Office of Financial and Insurance Services. Ross has been the acting commissioner since Linda Watters left the post in October. He has been with the state agency since 2003. Prior …
Willis Group Holdings, the global insurance broker, reports it has extended the employment agreement with Joseph J. Plumeri, its chairman and chief executive officer. The agreement, which was originally scheduled to expire Oct. 15, 2009, will extend his tenure as …
Midlands Management Corp. of Oklahoma City named Richard Jonathan Bird as executive vice president and chief operating officer. Bird will assist in leading all aspects of Midlands, including strategic marketing, business growth, implementation of new business opportunities and allocation of …
The U.S. Ninth Circuit Court of Appeals in Seattle has upheld an Alaskan district court ruling that a primary insurance carrier can cancel a marine vessel’s pollution insurance policy on the basis that the insured failed to disclose the vessel’s …
Relationships with agents, brokers and regulators critical to CIWA members The members of the California Insurance Wholesalers Association (CIWA) play a vital role in the state’s insurance market. To find out how wholesalers are faring in California’s increasingly soft market, …
