By Chairman Warren Buffett’s own admission, Berkshire Hathaway Inc. did not have one of its best years in 2004. Last year, Berkshire’s book-value gain of 10.5% fell short of the S&P 500 Index’s 10.9% return. In his annual letter to …
Back to Earth and Up to Albany for N.Y.’s Excess & Surplus Marketplace After setting records in 2004, the excess and surplus market in New York is expected to calm down this year, as the tremors from the Sept. 11 …
Efforts to extend the federal terrorism insurance backstop, set to expire at the end of the year, face significant hurdles despite widespread belief among carriers that such a program is necessary to prevent massive market dislocation. A recent report by …
The Chubb Corporation reported that its net income in the fourth quarter 2004 jumped to $467.6 million compared to $72.3 million in the fourth quarter 2003. Property/casualty net premiums written in the fourth quarter of 2004 grew 5 percent to …
Aon Risk Services Inc. has been appointed by World Trade Center Properties LLC, an affiliate of Silverstein Properties Inc., as broker for insurance coverage related to the construction of the Freedom Tower in Lower Manhattan. The Freedom Tower is the …
There are a number of things about the insurance industry that drive Lord Levene crazy but nothing more than all the paper. “The paperwork is nuts,” the Lloyd’s of London chairman exclaims. He tells the story of a broker inputting …
There are a number of things about the insurance industry that drive Lord Levene crazy but nothing more than all the paper. “The paperwork is nuts,” the Lloyd’s of London chairman exclaims. He tells the story of a broker inputting …
Alan McClain Alan McClain of Little Rock was appointed chief executive officer of the Arkansas Workers’ Compensation Commission. McClain was named to the post after former CEO Julie Benafield Bowman accepted appointment as commissioner of the Arkansas Insurance Department. McClain, …
There are a number of things about the insurance industry that drive Lord Levene crazy but nothing more than all the paper. “The paperwork is nuts,” the Lloyd’s of London chairman exclaims. He tells the story of a broker inputting …
Developer Larry Silverstein was given authorization by the New York City Industrial Development Agency to borrow an additional $75 million through tax-exempt Liberty Bonds for the 7 World Trade Center project, which is set to open next year. Two years …
