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Managing agency names claims director

By: Joyce Famakinwa

Published May 23, 2016 - 4:14pm CST

Marketform Managing Agency Ltd. said on Monday it has named London-based Sharon Long claims director.

Policy mitigates flood insurance deductibles for U.K. businesses

By: Joyce Famakinwa

Published May 23, 2016 - 12:44pm CST

Policy Excess Ltd., London, has launched Flood Excess Insurance to help small and medium-size U.K. enterprises in flood zones pay the deductibles on their flood coverage.

Global insurer to pull out of tobacco investments

By: Thomson Reuters

Published May 23, 2016 - 9:49am CST

(Reuters) — French insurer Axa S.A. plans to stop investing in the tobacco industry, citing the impact of smoking on public health.

U.K. insurers mandated to process claims quickly

By: Sarah Veysey

Published May 22, 2016 - 12:01am CST

A new U.K. law will allow insurance buyers of all sizes to receive damages if their claims are not paid within a reasonable amount of time, but the law does not define what is considered “reasonable.”

Wildfire losses mount as adjusters stand by

By: Rob Lenihan

Published May 22, 2016 - 12:01am CST

Wildfires sweeping through parts of Alberta for weeks are likely to be Canada's costliest catastrophe for property/casualty insurers with estimates of insured losses reaching nearly $7 billion, much of it borne by reinsurers.

Questioning overseas oversight

By: Mark A. Hofmann

Published May 22, 2016 - 12:01am CST

A new front has opened in the ongoing battle over how much say international regulators should have in the operation of U.S.-domiciled insurers.

Federal Reserve to release insurer capital standards soon

By: Mark A. Hofmann

Published May 20, 2016 - 1:56pm CST

The Federal Reserve plans to unveil its approach in formulating capital standards for insurers it oversees in “coming weeks.”

Insurer names president and CEO for Europe

By: Joyce Famakinwa

Published May 20, 2016 - 12:51pm CST

Arch Insurance Co. (Europe) Ltd. said Friday it named New York-based Matthew Shulman president and CEO, effective July 1.

Skuld acquisition adds marine business covering 6,000 vessels

By: Joyce Famakinwa

Published May 20, 2016 - 12:47pm CST

Assuranceforeningen Skuld said Friday it has signed a letter of intent to purchase SMA/Gerling Norway.

Berkshire Hathaway's Gen Re unit names new CEO

By: Thomson Reuters

Published May 20, 2016 - 9:37am CST

Kara Raiguel to replace the retiring Tad Montross.

Japan's top three insurers estimate Kumamoto quake payouts

By: Thomson Reuters

Published May 20, 2016 - 8:55am CST

(Reuters) — Japan's top three property insurers said on Friday the total insurance payout for damage caused by last month's deadly earthquakes in Kumamoto is likely to be around 19 billion yen ($174.8 million).

This week's Top 10 Business Insurance features

Published May 20, 2016 - 12:01am CST

Find out which features on BusinessInsurance.com were the most popular this week.

Top senator probes SWIFT data breach

By: Thomson Reuters

Published May 19, 2016 - 2:32pm CST

(Reuters) — The Senate Homeland Security Committee's top Democrat sought information Thursday from global financial network SWIFT and the Federal Reserve Bank of New York on steps being taken to bolster cyber security in the wake of the theft of $81 million from the central bank of Bangladesh.

XL Catlin leads insurance coverage for downed EgyptAir flight

By: Rob Lenihan

Published May 19, 2016 - 1:38pm CST

Marsh is the broker for the airliner carrying 66 passengers that crashed in the Mediterranean Sea.

Liberty Mutual net income rebounds in 1Q

By: Donna Mahoney

Published May 18, 2016 - 5:03pm CST

Liberty Mutual Holding Co. Inc. on Wednesday reported first-quarter net income of $403 million, a 48.2% increase over the first quarter of last year.

Ryan Specialty moves E&O program to Lloyd's from Aspen

By: Joyce Famakinwa

Published May 18, 2016 - 12:02pm CST

Ryan Specialty Group L.L.C.'s ThinkRisk Underwriting Agency said Wednesday that it will transition its converging risk program from Aspen U.S. Insurance to Lloyd's of London.

Top 5: A look into highest paid insurance brokerage executives

Published May 18, 2016 - 10:55am CST

Do the names J. Powell Brown, J. Patrick Gallagher and Dominic Casserley ring a bell?

Aspen revamps leadership; Vitale retires

By: Mark A. Hofmann

Published May 18, 2016 - 10:31am CST

CEO Mario Vitale and Robert Rheel, president of Aspen U.S., are leaving. Stephen Postlewhite takes over the top spot.

Another senior executive leaving French insurer

By: Sarah Veysey

Published May 18, 2016 - 10:08am CST

Nicolas Moreau, CEO of Axa France, will step down on June 30, Paris-based Axa S.A. announced Wednesday.

Lloyd's chief risk officer leaving for XL Catlin role

By: Sarah Veysey

Published May 18, 2016 - 9:18am CST

Sean McGovern, chief risk officer and general counsel at Lloyd's of London, is leaving Lloyd's to join XL Catlin as chief compliance officer and head of regulatory and government affairs, Lloyd's and XL Group P.L.C. announced Wednesday.

Texas Roadhouse's Patrick Sterling serves top-notch risk management

Published May 18, 2016 - 12:01am CST

Patrick Sterling, a member of Business Insurance's Risk Management Honor Roll, offers a fresh approach to building risk with Texas Roadhouse.

Challenging 2016 predicted for property/casualty insurers

By: Mark A. Hofmann

Published May 17, 2016 - 1:35pm CST

U.S. commercial property/casualty underwriting performance appears likely to fall short in 2016, according to Fitch Ratings.

Guy Carpenter, Symantec cooperate on cyber risk modeling

By: Rob Lenihan

Published May 17, 2016 - 1:10pm CST

Guy Carpenter & Co. L.L.C. said Tuesday that it had formed a strategic alliance with cyber security company Symantec Corp. to create a cyber aggregation model.

AIG general counsel to step down

By: Mark A. Hofmann

Published May 17, 2016 - 11:38am CST

Tom Russo will retire as general counsel of American International Group Inc., according to an internal memo sent to AIG employees.

Zurich North America names new chief underwriter

By: Mark A. Hofmann

Published May 16, 2016 - 2:48pm CST

Geno Fernandez will assume the role of chief underwriting officer at Schaumburg, Illinois-based Zurich North America.

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