United States News

Business Moves

Westfield Insurance, NGM Insurance Co. Westfield Insurance will transfer its personal lines business in Delaware to The Main Street America Group’s NGM Insurance Co., Main Street said. Westfield, which is headquartered in Westfield Center, Ohio, entered Delaware in 2000 through …

Specter of Danger Surrounds Cell Phones in Cars

Earlier this month, lawmakers in Maine and Delaware said they would consider restrictions on drivers’ cell phone use, but a national safety group says that the only sufficient limit to guarantee safety is a complete ban on the devices for …

People

American International Group Inc. (AIG) named Russell Johnston president and CEO of AIG Environmental, a unit of AIG Commercial Insurance. Johnston joined AIG in 1990 serving in senior management positions within AIG’s Risk Management Group, including president of National Accounts, …

New Markets

The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Mono-line Property for Coastal Exposures Market Detail: CATalyst Property Insurance from Venture Programs gives agents …

London’s Reach Bolsters U.S. Specialty Lines

Insurers Catlin, Beazley, Amlin, Hiscox and Newcomer Torus Find Their Niche in U.S. Market Find a need, then fill it,” is a hoary business principle, but making it work is often harder than it looks. However, a number of British …

Lawmakers Press Treasury Nominee to Boost Federal Oversight of Insurance

Seven U.S. lawmakers Friday urged Treasury Secretary nominee Timothy Geithner to boost federal oversight of insurance companies, a long-held goal of much — although not all — of the insurance industry. Democratic Rep. Melissa Bean of Illinois, Republican Rep. Ed …

Hannover Re Buys ING’s Life Portfolio from Scottish Re

Hannover Re is buying a life insurance portfolio of ING Groep from Scottish Re to become the fifth-biggest individual life reinsurer in the United States, the company said on Friday. While Hannover Re did not say what it paid for …

Validus Ups Ike Losses to $235 Million

Bermuda-based Validus Holdings announced that it has increased its estimate of the net adverse effect from Hurricane Ike by approximately $70.1 million to a current total estimate of approximately $235.1 million. Validus said its new estimate is “is net of …

California AG Sues Operators and Pilot for San Francisco Bay Oil Spill

California Attorney General Edmund G. Brown Jr. has filed a lawsuit on behalf of the California Department of Fish and Game Office of Spill Prevention and Response, State Lands Commission and State Water Boards against the owners, operators and pilot …

Iowa Landlord Faked Insurance Claims to Cheat Tenants Out of Deposits

Iowa authorities said that Robert K. Miell was tried and convicted on Jan. 9 on income tax fraud in United States District Court in Des Moines. Last week, Miell had pled guilty to 18 counts of mail fraud relating to …