Puerto Rico News

R&SA to Sell Puerto Rico Subsidiary

The U.K.’s Royal & Sun Alliance Insurance Group announced that it has agreed to sell its Puerto Rican subsidiary, Royal & Sun Alliance Insurance (Puerto Rico), Inc., to Cooperativa de Seguros Multiples de Puerto Rico for around £38 million ($61 …

Prudential “Spirit of Community Award” for N.J. Youth Volunteers

Gideon Sofer, 18, of Highland Park, N.J. was named one of America’s top ten youth volunteers for 2003 in a ceremony today at the International Trade Center, in Washington D.C., receiving a national Prudential Spirit of Community Award for his …

Medical Justice Introduces Countersuit Malpractice Policies in N.C.

Medical Justice™ Corporation announced it is partnering with local insurance brokers in North Carolina and Ohio, as well as the Florida Medical Association, to protect physicians from frivolous malpractice cases with its patented Medical Justice™ The company said Medical Justice …

Med Mal Fever: When Doctors Walk Out, Politicians Notice

They’re baaack. High-flying medical malpractice liability claims losses, that is. The availability crisis of the 1970s and the affordability crisis of the 1980s may be nothing compared to the crisis insurers and doctors face this time around. Almost 8 percent …

Commercial Lines Auto: A Sleeping Giant Awakens

The commercial lines auto market used to be a steady line of business, stirred up occasionally by a Department of Transportation regulatory change or fallout from personal auto regulatory issues. Like other lines, it was sensitive to litigation expenses, although …

Commercial Lines Auto: A Sleeping Giant Awakens

The commercial lines auto market used to be a steady line of business, stirred up occasionally by a Department of Transportation regulatory change or fallout from personal auto regulatory issues. Like other lines, it was sensitive to litigation expenses, although …

New Board Officers Selected at CISR

The Society of Certified Insurance Service Representatives (CISR), headquartered in Austin, Texas, selected a new team of executive officers to head its Board of Governors. The CISR Board is the policy-making entity for this not-for-profit insurance education organization and is …

Marsh Inc. To Acquire Saldana & Associates of Puerto Rico

Marsh Inc. announced that it has signed a letter of intent to acquire Saldana & Associates, the leading insurance broker in Puerto Rico and the Caribbean, “subject to the customary conditions.” The bulletin indicated that Saldana, established in 1972, is …

Marsh Pens Letter of Intent to Purchase Saldana & Associates

Marsh Inc. has signed a letter of intent to acquire Saldana & Associates, the leading insurance broker in Puerto Rico and the Caribbean. Saldana, currently a Marsh correspondent, was established in 1972. The company has a staff of 170 professionals, …

Assurant Group to Build New Operations Center in Canada

Assurant Group, a provider of specialty risk management programs for the financial services industry, and the Kingston Economic Development Corporation have announced plans for Assurant to build a new operations center in Kingston, Ontario. Plans call for the initial construction …