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People

Jeff Grace has been named president of IMA of Wichita, officials for The IMA Financial Group Inc. announced. Grace joined IMA in 1997 in business development, focusing on the construction practice, and was promoted to sales manager for the Wichita …

Lloyd’s Comments on Observance of International Women’s Day

A bulletin on the Lloyd’s of London web site (www.lloyds.com) notes that yesterday, March 8 was International Women’s Day, which has been “observed since the early 1900s. It is an opportunity to share and celebrate women’s achievements around the world. …

People

Seacrest Partners Inc., a Savannah, Georgia-based insurance brokerage and employee benefits consulting firm, has named J. Cliff McCurry as vice chairman. McCurry will oversee business development activities for the agency. McCurry has been involved in the Savannah insurance and business …

Lloyd’s Insures Coffee Taster’s Tongue for $13.78 Million

Despite all the technical changes, Lloyd’s of London continues to adhere to its century’s old tradition of accepting the most unusual risks. It has just agreed to cover the tongue of Gennaro Pelliccia, Costa Coffee’s Italian Master of Coffee, for …

Business Moves

Marsh Marsh & McLennan Companies Inc., the No. 2 global insurance broker, said the 2008 restructuring at Marsh Inc., its flagship insurance brokerage unit, was on track to generate annual savings of $200 million, and it plans further spending cuts …

New Markets

The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Vacant Commercial Property Market Detail: Western Networked Insurance Services has an exclusive program for vacant …

Aon Launches Cost Reduction Initiative

Aon’s London office announced that “as global companies demand ‘quick wins’ in the face of capital constraints and expected insurance premium increases,” its Global Risk Consulting unit is launching a “Cost Reduction Initiative for EMEA [Europe, Middle East, Africa] businesses …

UK’s Aviva Posts $1.258 Billion Loss

The UK’s Aviva PLC, Europe’s biggest provider of life insurance and pension products, booked a net loss for 2008, due to a drop in the value of assets amid the financial crisis, which caused the company’s shares to plunge on …

RMS Warns Cricket Team Attack Shows Vulnerability of Sports Events

“The terrorist attack on the Sri Lanka cricket team in Lahore [Pakistan] highlights the vulnerability of sporting events to terrorist disruption,” warned Dr. Gordon Woo, terrorism risk expert at Risk Management Solutions. “A characteristic of terrorist behavior is learning from …

Lloyd’s Survey Finds Satisfied Customers

While most people aren’t terribly pleased by the turmoil in the banking sector, their satisfaction with Lloyd’s of London appears to be growing. A recent poll concludes that overall customer satisfaction with Lloyd’s “has improved year on year, with its …