Swiss-based Converium Holdings announced that the U.K.’s Financial Services Authority (FSA) has granted the company’s request to conduct a general liability insurance business. It also announced, in accordance with Swiss law, that Germany’s Deutsche Bank (DB) now holds approximately 7.96 …
San Francisco-based U.S.I. Holdings Corporation announced that it has consummated the previously announced acquisition of all the issued and outstanding capital stock of Woburn, Mass.-based Hastings-Tapley Insurance Agency Inc. Hastings-Tapley provides property and casualty insurance, risk management, and employee benefits …
The Alliance of American Insurers issued a bulletin praising the action of the Massachusetts Senate in eliminating a proposal to increase state revenues through what the Alliance termed “an onerous surcharge on homeowners and commercial liability insurance premiums” as part …
The Alliance of American Insurers is urging Oklahoma Gov. Brad Henry to sign into law a bill that would limit insurer exposure under the Standard Fire Policy Act, thereby helping to stabilize the state’s commercial insurance market. “HB 1273, which …
Michigan Gov. Jennifer Granholm (D) has signed into law a bill limiting insurer exposure under the Standard Fire Policy Act. The state follows similar action earlier this year by Virginia, Minnesota and Nebraska, according to the Alliance of American Insurers. …
The National Association of Independent Insurers issued a bulletin indicating that the Massachusetts Senate Ways and Means Committee’s version of the state’s budget includes several provisions that will cause problems for property/casualty insurers. “Although the Senate version does not impose …
The Michigan Legislature has passed a bill limiting insurer exposure under the Standard Fire Policy Act and sent it to the governor, whose signature is urged, according to the Alliance of American Insurers. Under the bill, HB 4432, commercial property/casualty …
Massachusetts-based Allmerica Financial Corporation has incurred approximately $19 million in pre-tax catastrophe losses to date in the second quarter. The losses are primarily the result of hail, high winds, and tornadoes, principally in the Midwest and South from April 1 …
Alan D. Brannan has been named the new president of personal lines underwriting at Columbus, Ohio-based Grange Insurance following a thorough countrywide search. He most recently served as president and chief operating officer for the Massachusetts personal lines division of …
Representatives of the National Association of Independent Insurers told the Massachusetts Division of Insurance at a recent hearing that one of the most effective ways to enhance the insurance market for consumers in the Bay State “is to move from …
