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Six years after AIG bailout, trial asks: was it legal?

Published September 29, 2014 - 9:36am CST

(Reuters) — One of the more unusual trials to come out of the 2008 financial crisis is set to begin on Monday, when a federal judge will consider whether the U.S. government's rescue of AIG was, in fact, legal.

Best Places to Work in Insurance 2014: Small Employers

Published September 28, 2014 - 6:00am CST

Providing a great place to work is a key factor in attracting and retaining the brightest talent prospects, and Business Insurance honored a record 75 insurance industry employers that have created an environment in which people thrive and enjoy their work, making the companies the 2014 Best Places to Work in Insurance.

Best Places to Work in Insurance 2014: Medium Employers

Published September 28, 2014 - 6:00am CST

Providing a great place to work is a key factor in attracting and retaining the brightest talent prospects, and Business Insurance honored a record 75 insurance industry employers that have created an environment in which people thrive and enjoy their work, making the companies the 2014 Best Places to Work in Insurance.

Best Places to Work in Insurance 2014: Great American Insurance Group

By: Louise Esola

Published September 28, 2014 - 6:00am CST

Great American Insurance Group is a Cincinnati-based provider of innovative insurance solutions focused on two primary markets.

Brokers and insurers aim to lure fresh faces and top talent to industry

By: Stephanie Goldberg

Published September 28, 2014 - 6:00am CST

Who students, recent graduates and other job candidates know can be just as — sometimes more — important than what they know when it comes to landing a job in the well-connected insurance industry.

Insurance business fraternity Gamma Iota Sigma helps ready next generation

By: Stephanie Goldberg

Published September 28, 2014 - 6:00am CST

With only a few organizations focused on attracting and supporting future insurance professionals, developing partnerships is key, said Noelle Codispoti, executive director of insurance industry business fraternity Gamma Iota Sigma.

Andrew Beazley Broker Academy fosters talent for Lloyd’s of London market

By: Sarah Veysey

Published September 28, 2014 - 6:00am CST

Earlier this month, 44 promising brokers from the United States and Canada traveled to London to spend a week at Lloyd's of London as part of the Andrew Beazley Broker Academy at Lloyd's, a program set up to provide education, foster talent and deepen understanding of the Lloyd's market.

Baby boomer retirements bring threat of ‘knowledge gap’ to employers

By: Rodd Zolkos

Published September 28, 2014 - 6:00am CST

An aging workforce presents strategic risks for companies across various industries and disciplines — including insurance and risk management — as a wave of retiring baby boomers threatens to leave employers facing a “knowledge gap.”

Best Places to Work in Insurance 2014: West Bend Mutual Insurance Co.

By: Bill Kenealy

Published September 28, 2014 - 6:00am CST

Despite being a large employer, West Bend Mutual Insurance Co. based in West Bend, Wisconsin, maintains a family atmosphere.

Best Places to Work in Insurance 2014: Philadelphia Insurance Cos.

By: Louise Esola

Published September 28, 2014 - 6:00am CST

It's as simple as walking the walk, says Philadelphia Insurance Cos. President and CEO Robert L. O'Leary on why his company was selected as one of Business Insurance's Best Places to Work in Insurance for 2014.

Best Places to Work in Insurance 2014: The Hanover Insurance Group Inc.

By: Sarah Veysey

Published September 28, 2014 - 6:00am CST

The Hanover Insurance Group Inc. is a proud 162 years old, and employees say the company's adherence to its cultural values while empowering staff to develop their careers and granting them autonomy is one of the reasons they think it is a great place to work.

Business Insurance recognizes 2014 Best Places to Work in Insurance

Published September 28, 2014 - 6:00am CST

The insurance industry is always on the hunt for talent, and providing a great place to work is a key factor in attracting and retaining the brightest prospects. In this special report, Business Insurance honors a record 75 employers that have created an environment in which people thrive and enjoy their work, making the companies the 2014 Best Places to Work in Insurance.

Allianz could face hundreds of billions in outflows on Gross exit: Morningstar

Published September 26, 2014 - 2:54pm CST

(Reuters) — Bill Gross' departure from investment firm Pacific Investment Management Co. L.L.C. could lead investors to pull hundreds of billions of dollars in assets from its parent company, Allianz S.E., and invest them with Janus Capital Group, the rival firm that Mr. Gross is joining, a Morningstar analyst said Friday.

U.S. insurance sector shows resilience in wake of financial crisis: FIO

By: Mark A. Hofmann

Published September 24, 2014 - 3:09pm CST

The U.S. insurance industry has shown “resilience” in the wake of the financial crisis, according to a report issued Wednesday by the Federal Insurance Office.

Stuart Henderson assumes chairmanship of NAMIC

By: Mark A. Hofmann

Published September 24, 2014 - 2:18pm CST

Stuart Henderson, president and CEO of Western National Insurance Group in Edina, Minnesota, assumed the chairmanship of the National Association of Mutual Insurance Companies at its annual meeting at National Harbor, Maryland, on Wednesday.

Multinational insurance programs attracting European risk managers: Study

By: Sarah Veysey

Published September 24, 2014 - 9:27am CST

LONDON — A majority of European risk managers expect their use of multinational insurance programs to increase over the next three years, according to a study by Ace European Group Ltd.

Property/casualty groups stress resilience to extreme weather: statement

By: Mark A. Hofmann

Published September 23, 2014 - 2:26pm CST

A group of property/casualty insurance groups issued a joint statement emphasizing their commitment to risk mitigation and extreme weather resilience.

Catastrophe modeler RMS giving cities free access to technology

By: Bill Kenealy

Published September 23, 2014 - 12:40pm CST

Catastrophe modeling firm Risk Management Solutions Inc. announced Tuesday a partnership intended to help cities address natural hazard risk.

Canada may spread oil-by-rail insurance burden, mulls special fund

Published September 23, 2014 - 10:17am CST

(Reuters) — The Canadian government is looking at extending the insurance burden for crude-by-rail disasters beyond just railways and is weighing the idea of a special fund similar to one once set up for maritime oil spills, a government official said.

Property/casualty policyholder surplus reaches record $683.1B: A.M. Best

By: Mark A. Hofmann

Published September 22, 2014 - 2:34pm CST

U.S. property/casualty insurer's policyholder surplus reached a record $683.1 billion during the first half of this year, according to a report released Monday by A.M. Best Co. Inc.

Excess and surplus insurers profitable in face of competition: Moody's

By: Judy Greenwald

Published September 19, 2014 - 2:57pm CST

The U.S. excess and surplus lines market is experiencing a period of growth because of rate increases and an improving economy, while profitability is strong.

Spencer Educational Foundation raises more than $1M for scholarships

By: Matthew Lerner

Published September 19, 2014 - 2:11pm CST

NEW YORK — The Spencer Education Foundation Inc. raised more than $1 million at the organization’s annual gala Thursday at the Waldorf-Astoria in New York.

Marsh names exec to lead research for its workers compensation excellence center

By: Stephanie Goldberg

Published September 19, 2014 - 11:44am CST

Tom Ryan has been named workers compensation market research leader for Marsh L.L.C.'s Workers' Compensation Center of Excellence, the insurance broker said Friday.

Passed over to be CEO, AIG's life insurance head resigning

By: Mark A. Hofmann

Published September 19, 2014 - 9:35am CST

Jay S. Wintrob, president and CEO of AIG Life & Retirement, is leaving the company to “pursue other interests,” AIG said Thursday as AIG President and CEO Peter D. Hancock announced a new leadership structure for the insurer.

John Parente joins Berkshire Hathaway Specialty Insurance life sciences

Published September 18, 2014 - 1:40pm CST

(Reuters) — Berkshire Hathaway Specialty Insurance on Thursday said it was expanding its underwriting into the risks of life sciences, naming John Parente to head that area.

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