$220 Million Estimated 2010 storm losses in Kansas climbed to $220 million as of the end of August, according to the Kansas Department of Insurance. There were approximately 59,400 storm claims filed during the same period. The department said estimated …
Markel, Aspen, FirstComp Markel Corp. completed the previously announced acquisition of Aspen Holdings Inc., a privately held insurance group that provides workers’ compensation insurance and related services, principally to small businesses, in 31 states. Aspen, headquartered in Omaha, Neb., operates …
Ironshore, Distinguished Programs Bermuda-based specialty insurer Ironshore Inc. and New York-based program administrator Distinguished Programs Group LLC have formed a joint venture acquisition vehicle targeting the managing general underwriter and program manager segments of the insurance distribution business. IDP Holdings …
$19 Million A federal jury in Jonesboro, Ark., awarded $19 million to a Walnut Ridge man who sued Ford Motor Co., claiming that he was paralyzed in a car wreck because his seat belt was defective in his 1998 Windstar …
Aon, Hewitt Associates Aon Corp. said it will cut 1,500 to 1,800 jobs over the next three years after acquiring Hewitt Associates. Aon expects to save $355 million per year, including $280 million per year by eliminating jobs. The cuts …
Bailed-out insurer AIG raised $27.71 billion cash in 10 days with the initial public offering of its Asian life business AIA and the sale of its global life unit Alico, enough to repay a credit facility from the Federal Reserve …
$300,000 Amount members of the Independent Insurance Agents and Brokers of Washington have put toward the campaign to pass Washington voter initiative I-1082. The initiative would open up the state workers’ compensation insurance system to the private market. Currently, the …
New criticism of Halliburton Co.’s work on BP Plc’s blown-out Gulf of Mexico well could make it harder for the world’s second-largest oilfield services company to escape significant responsibility for the disaster. Lawyers for the government and spill victims gained …
Garden Variety Fraud “Consumers should know that in addition to being wide-spread, insurance fraud also affects a wide-spread group of people: everyone.” —New Jersey Insurance Commissioner Tom Considine, commenting on the launch of a new unit within the Department of …
Survey Finds Agencies Take a Second Look at Hiring Employees With Past E&O Histories Today’s soft insurance market, reduced commissions and a tough economy for agency owners and their clients might be adding to agency errors and omissions (E&O) exposures. …
