It Figures
$60 Million Reported price to be paid by Deutsche Bank for AIG’s building at 72 Wall St. to a consortium of owners, including a South Korean investment banking firm that purchased the building last year. The building comprises one of …
Declarations
New England Wind “The barn was completely flattened.” —Kati King, of Gorham, Maine, where 54 mph winds destroyed her 150-year-old, 40,000-square-feet cow barn. Similar scenes were recorded throughout New England and New York as unusually powerful windstorms battered the region …
10 Most, Least Affordable States for Car Insurance
InsWeb, an online insurance comparison provider, recently released its 2010 Car Insurance Affordability Index — a list of the most and least affordable states in which to insure a vehicle. To develop the list, InsWeb ranked all 50 states and …
Lee Named Branch VP for The Hanover in New Hampshire and Vermont
The Hanover has appointed Michael H. Lee as branch vice president for Commercial Lines for the company’s New Hampshire and Vermont markets. In this new role, Lee will lead the company’s efforts to strengthen its presence in these states by …
Vermont Sees Growth in Number of Captive Insurers
Seventeen new captive insurers formed in Vermont through the first half of the year, a rate that puts the state on pace to have one of the best years in its history in terms of new captives. Last year the …
Business Moves
First Mercury, Valiant Michigan-based First Mercury Insurance Co. is acquiring New York-based Valiant Insurance Group Inc. in a transaction valued at approximately $55 million. The transaction is expected to close in the fourth quarter. Valiant’s existing classes of business to …
Ward Group Names Top 50 Performing P/C Insurers
The Ward Group has named the top 50 property/casualty insurers, based on its evaluation of more than 3,000 companies domiciled in the United States. Companies named to the list had surplus and premiums of at least $50 million for each …
Casabona Agency Joins SAN Group
Springfield, Vermont-based Casabona Agency has joined the Satellite Agency Network (SAN) Group Inc, according to agency principal Steve Casabona and Matt Masiello, president and chief operating officer of SAN Group Inc. A licensed agent since 1994, Casabona purchased the 20-year-old …
Vermont Jury Awards Man $380K for Turkey Hunt Wounds
A jury has awarded $380,557 to a Vermont turkey hunter hit by 52 shotgun pellets fired by another hunter. The Windsor County Superior Court jury returned the award last week against Ralph Townsend of Hartland for the May 2008 incident …
Ratings Roundup: Iron Horse, American Physicians, United Contractors
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a+” of Vermont-based Iron Horse Insurance Company, both with stable outlooks. The ratings reflect Iron Horse’s “superior risk-adjusted capitalization, experienced management team and …
