London News

Figures

$105.3 million The amount being paid by Prudential Financial Inc. over 20 years for the naming rights to the new arena for the NHL’s New Jersey Devils’ hockey team. The $375 million downtown venue is already under construction nearly across …

People

Lloyd’s of London announced that Julian James, its director-worldwide markets, will be leaving at the end of April to join Lockton International. James has been responsible for all Lloyd’s commercial activities outside the UK, including the management of its 72 …

People Citizens Property Insurance Corp.’s board of governors voted unanimously to recommend interim President Scott Wallace be appointed to the post permanently. Wallace was selected from more than 70 candidates by a special board search committee during a teleconference meeting. …

Figures

$60 billion The record estimated income after taxes for the property casualty insurers in 2006, according to the Insurance Information Institute. $8 billion The estimate of insured catastrophe losses in 2006, down from $62 billion in 2005, according to the …

Industry leaders debate regulation in wake of Democratic Congress shift

The Professional Liability Underwriting Society held its international conference in Chicago in late 2006. Moderating a conference panel, television journalist Forrest Sawyer, a 24-year veteran of ABC, CBS and MSNBC, targeted his questions to a diverse group of insurance leaders …

New Markets

Real Estate Appraisers Nuts & Bolts: San Diego-based AMIS (Alliance Marketing and Insurance Services) is offering broader package policies for real estate appraisers handling residential and commercial property. This policy offers commercial general liability coupled with errors and omissions and …

People

Argonaut Group Inc., based in San Antonio, reported that Gregory M. Vezzosi has joined the organization as executive vice president and chief operating officer. Vezzosi will report to Mark E. Watson III, president and chief executive officer, who explained that …

New Markets

Apartment Property Program Nuts & Bolts: Houston-based London American Risk Specialists Inc. has an Apartment Property Program endorsed by the National Apartment Association. The program is available in the continental United States. Highlights of the program include: competitive rates on …

Case Law Watch

Additional Insureds Alpha Holdings Ltd. v. Travelers Indemnity (California Court of Appeals, Second District, July 13, 2006) Ruling: This case involved a declaratory judgment action on insurance coverage under a vendor’s endorsement purporting to provide protection against product liability litigation. …

People

Lloyd’s of London announced that Julian James, director-worldwide markets, will be leaving at the end of April to join Lockton International. He has been responsible for all Lloyd’s commercial activities outside the United Kingdom, including managing the company’s 72 trading …