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Mercer projects health reform law's 2015 penalties, HSA and HDHP tax limits

By: Matt Dunning

Published April 18, 2014 - 9:00am CST

Mercer L.L.C. has projected the amounts employers can expect to pay in 2015 for failing to comply with the health care reform law's “play or pay” provisions in a report released on Tuesday.

Insurance market appears to be tightening on TRIA backstop fears: Report

By: Mark A. Hofmann

Published April 17, 2014 - 2:51pm CST

Uncertainty over the future of the federal terrorism insurance backstop appears to be causing “tightening” in the terrorism insurance market, according to a report released Thursday by the President's Working Group on Financial Markets.

Aspen attempts to thwart Endurance takeover bid

By: Matthew Lerner

Published April 17, 2014 - 2:26pm CST

Aspen Insurance Holdings Ltd.'s board has adopted a shareholders rights plan to fend off an unsolicited offer by Endurance Specialty Holdings Ltd. to buy Aspen for $3.2 billion in cash and stock.

$1.35B credit facility to fund Brown & Brown acquisitions, future growth

By: Mark A. Hofmann

Published April 17, 2014 - 11:07am CST

Brown & Brown Inc. has entered into a five-year $1.35 billion unsecured credit facility to fund acquisitions and future growth, the Daytona Beach, Fla.-based broker announced Thursday.

U.K.'s RSA sells east European businesses to Polish insurer PZU

Published April 17, 2014 - 9:12am CST

(Reuters) — Troubled U.K. insurer RSA has sold the bulk of its eastern European operations to Poland's state-controlled group PZU for about €360 million ($497.3 million), the Polish firm's biggest ever deal and RSA's first to be done under its financial restructuring plan.

The Council grows by four

Published April 16, 2014 - 1:29pm CST

The Council grows by four

Starr Indemnity & Liability added to Treasury list of surety companies

By: Bill Kenealy

Published April 16, 2014 - 12:39pm CST

New York-based Starr Cos. on Wednesday said its Starr Indemnity & Liability Co. has been added to the list of approved surety companies by the U.S. Treasury Department.

Market weighs on insurers and reinsurers, but brokers faring better: Analysis

By: Mark A. Hofmann

Published April 16, 2014 - 11:45am CST

Property/casualty insurers and reinsurers face a challenging market in 2014 from increased competition, but the outlook for insurance brokers is brighter because of general economic growth, according to an analysis released Wednesday by Barclays Capital Inc.

Cyber risks lurk far beyond organizations' own walls: Report

By: Mark A. Hofmann

Published April 16, 2014 - 11:39am CST

WASHINGTON — Current cyber risk management does not give much consideration to “digital distant perfection” — the aggregation of cyber risks that can lie far beyond an organization's own four walls.

RSA head for U.K. and Western Europe resigns to join Gallagher

Published April 16, 2014 - 10:07am CST

(Reuters) — The head of British insurer RSA Insurance Group P.L.C.'s U.K. and Western Europe business has resigned ahead of a strategic shakeup to take a new role at broker Arthur J. Gallagher & Co.

Allied World opens Toronto office, names Gord Kerr as head

By: Kate Shepherd

Published April 16, 2014 - 9:58am CST

Allied World Assurance Co. Holdings A.G. has opened a branch office in Toronto, tapping Gord Kerr as senior vice president, chief agent and branch manager for the region.

Patent firm RPX gets OK to act as Lloyd’s of London coverholder

By: Sarah Veysey

Published April 16, 2014 - 9:44am CST

Patent risk management solutions company RPX Corp. has received approval to act as a coverholder at Lloyd’s of London, RPX announced Wednesday.

Lancashire founder and CEO Richard Brindle to retire

Published April 16, 2014 - 9:34am CST

Richard Brindle, CEO and founder of insurer Lancashire Holdings Ltd., will retire from the company on April 30, Lancashire announced Wednesday.

Hull and liability aviation rates down 10% at renewals: Aon

By: Sarah Veysey

Published April 16, 2014 - 9:23am CST

Rates for lead hull and liability aviation insurance fell by an average of 10% during renewals that took place in 2013, according to a report published Wednesday by Aon P.L.C.

British insurer RSA names chief operating officer to oversee asset sales

Published April 15, 2014 - 9:21am CST

(Reuters) — British insurer RSA has appointed its emerging markets chief to the newly created role of chief operating officer to oversee sales of non-core businesses as the company shores up its balance sheet.

Arthur J. Gallagher accelerates global push with purchase of Australia broker

By: Mark A. Hofmann

Published April 13, 2014 - 6:00am CST

Arthur J. Gallagher's proposed buyout of Australian conglomerate Wesfarmers' insurance brokerage operations would instantly give Gallagher a giant footprint in Australia and position the large U.S. broker for growth in Asia.

Panama Canal expansion covered by global insurers and reinsurers

By: Sarah Veysey And Bill Kenealy

Published April 13, 2014 - 6:00am CST

Major global players in the insurance industry are providing coverage for the pivotal Panama Canal expansion project.

Marine insurers prepare to cover huge cargo shipments as Panama Canal expands

By: Sarah Veysey And Bill Kenealy

Published April 13, 2014 - 6:00am CST

The ongoing multibillion-dollar expansion of the Panama Canal carries a host of risks for the marine insurance industry as larger and higher valued ships will travel the 50-mile waterway with much bigger loads.

Q&A: Steve McGill, Aon P.L.C.

Published April 13, 2014 - 6:00am CST

Steve McGill is group president of Aon P.L.C. and chairman and CEO of the brokerage's global risk management business. Mr. McGill had a long career as a brokerage executive in the London market before joining Aon in 2005. At Aon, he has led several initiatives, including last year's controversial deal with Berkshire Hathaway Inc. to establish a facility that guaranteed capacity on certain...

Port Authority of New York and New Jersey sues Aon over payments

By: Matthew Lerner

Published April 11, 2014 - 11:34am CST

The Port Authority of New York and New Jersey on Thursday sued Aon P.L.C. in New York State Supreme Court, alleging mishandling of commissions and overpayment of premiums from 2008 to 2012.

Aon CEO says Berkshire Hathaway deal good for Lloyd's market

Published April 10, 2014 - 2:23pm CST

(Reuters) — The head of insurance broker Aon P.L.C. has mounted a defense of a deal signed last year with Warren Buffett's Berkshire Hathaway Inc. that some fear could weaken the Lloyd's of London insurance market, arguing it is good for London.

Reinsurance rates stable at April 1 renewals: Guy Carpenter

By: Matthew Lerner

Published April 10, 2014 - 12:44pm CST

Plentiful capacity kept rates in check across most business lines and geographies during the April 1 reinsurance renewals, reinsurance intermediary Guy Carpenter & Co., L.L.C. in a statement Thursday.

Cross Insurance buys Troy, Pires & Allen insurance agency

By: Kate Shepherd

Published April 09, 2014 - 4:34pm CST

Cross Insurance, an insurance agency owned by Cross Financial Corp., has acquired East Providence, R.I.-based insurance agency Troy, Pires & Allen Insurance.

Property/casualty insurance rates to decline, but some lines uncertain: Willis

By: Rodd Zolkos

Published April 09, 2014 - 1:45pm CST

Commercial property/casualty insurance buyers should see modest improvements in market conditions over the remainder of 2014, though external factors are causing instability in some coverage lines, according to a new report from Willis Group Holdings P.L.C.

OFF BEAT: Titanic claim form minimized size of iceberg to insurers

Published April 09, 2014 - 12:52pm CST

A historic insurance claim form set to be sold at auction downplays the cause of the 1912 Titanic's sinking as a “small low-lying iceberg.”

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