The Worldwide Broker Network’s Owners Conference in San Francisco from April 17 to 20 is expected to draw 200 industry professionals. The WBN event, at the Ritz Carlton Hotel on Nob Hill, is part of a tradition of rotating meetings …
CNA Financial Corp. said it has extended its employment contract with Tom Motamed, chairman and chief executive officer, through 2016. He assumed his current position in 2009. ‘Over the past two years, we have built a first-class team and we …
Warren Buffett’s Berkshire Hathaway Inc. will take over asbestos and environmental pollution risks now held by CNA Financial Corp. in exchange for a $2 billion fee. CNA, which is the nation’s seventh-largest commercial insurer and 90 percent-owned by conglomerate Loews …
Property/casualty insurance companies, which already pay into state guaranty funds to backup claims of their insolvent peers, don’t want to have to also pay into a federal fund to cover failures of larger and riskier financial services firms. Leading p/c …
After 30 years at Chubb Corp, Thomas Motamed joined Chicago-based commercial lines insurer CNA Financial in January 2009 as chairman and CEO. In this edited interview with Insurance Journal’s Andrew Simpson, Motamed talks about his goals and changes at CNA, …
Opposed to Public Option “The House passed a bill today that includes a government-run health insurance plan (public option) that would unfairly compete with the private insurance marketplace, limit consumer choice and increase the taxpayer burden.” —Charles Symington, senior vice …
No Penalty “A consumer should not be penalized for reporting damage. I don’t want insurers non-renewing policyholders whose homes were damaged by flooding, especially when claims reporting is mandated by FEMA for a consumer to be eligible for benefits.” —Georgia …
Healthcare Reform “The House passed a bill today that includes a government-run health insurance plan (public option) that would unfairly compete with the private insurance marketplace, limit consumer choice and increase the taxpayer burden.” —Charles Symington, senior vice president of …
CNA Financial Corp.’s third quarter 2009 results included net operating income of $331 million and net income of $263 million along with a combined ratio for property/ casualty operations of 101.0%. Net operating income for the three months ended Sept. …
$1.25 Billion Bail-Out “By taking this proactive step, we further augment our solid capital base and are well positioned to both meet the challenges and act on the opportunities likely to emerge in the marketplace.” —Stephen Lilienthal, chairman and CEO …
