Puerto Rico News

Spring Brings Increased Wyoming Mining, Safety Concerns

The arrival of spring brings increased activity at Wyoming mines and quarries, and with it, a greater risk of workplace accidents, safety officials say. Seasonal workers becoming reacquainted with their jobs and the use of equipment that hasn’t been run …

Defending Data

Data Security Breaches Present Emerging Risks and Opportunities for Agents Data security represents both a new market opportunity to sell insurance coverage and a new risk — especially for independent insurance agencies unable to comply with data security laws or …

Defending Data

Data Security Breaches Present Emerging Risks and Opportunities for Agents Data security represents both a new market opportunity to sell insurance coverage and a new risk — especially for independent insurance agencies that may not be compliant with data security …

AIG to Sell Tokyo Building, Puerto Rico Hotel, Dubai Properties

American International Group has put a prized building in Tokyo up for sale and is in advanced talks to sell a hotel in Puerto Rico and two office buildings in Dubai, a top executive said Thursday. The sales are part …

S&P Assigns Preliminary Ratings to Atlas Re V Securitization

Standard & Poor’s Ratings Services has assigned its preliminary credit ratings to the $200 million principal at-risk variable-rate notes series 1, 2, and 3 issued by Atlas Reinsurance V Ltd. “The sponsor and ceding reinsurer for this transaction is SCOR …

Illinois, North Dakota Join Regulator Sponsored State Based Systems

The National Association of Insurance Commissioners (NAIC) recently announced that two state departments — the Illinois Division of Insurance within the Department of Financial and Professional Regulation and the North Dakota Insurance Department — have chosen State Based Systems (SBS) …

People

Independent Insurance Agents of North Carolina named Kelley L. Erstine chief executive officer. Erstine assumed the association’s CEO responsibilities Oct. 15 and replaces Bob Bird upon his retirement after 25 years of service to IIANC. Erstine served as executive vice …

Markel Corp. Appoints President of Southeast Region

Markel Corp. named John K. Latham president of its newly formed southeast region. In addition to his new role, Latham will continue to head the Office of Business Development. As president of the southeast region, Latham will organize the management …

Bank Holding Companies’ Insurance Revenue Jumps 9.5%

The nation’s bank holding companies increased their total insurance revenue 9.5 percent to $23.7 billion in the first half of 2008 from $21.7 billion during the same period in 2007. CitiGroup (N.Y.), Wells Fargo & Co. (Calif.), and BB&T Corp. …

Hurricane Omar Heads for Leeward Islands

Omar has intensified to hurricane strength in the last 24 hours and continues to move gradually towards the northern Leeward Islands. It is a relatively small storm with hurricane force winds extending up to just 15 miles from the center. …