Commercial Lines
Midwest Flooding More Frequent: University Study
The U.S. Midwest and surrounding states have endured increasingly more frequent flood episodes over the past half-century, according to a study from the University of Iowa. The UI researchers based ...
Chilton Named CEO of A.J. Gallager’s UK Division
Arthur J. Gallagher & Co. announced Friday that Grahame "Chily" Chilton has been named CEO of the company's UK-based international brokerage division, subject to regulatory approval. Chilton will ...
Train-Delivered Canadian Crude Oil Shipments Will Need More Insurance
The Canadian government is overhauling its safety rules for crude oil shipments by train, creating a disaster fund and forcing railways to carry more insurance. Oil companies will pay into the fund, ...
Willis North America to Gain New Chair
Willis Group Holdings has named a new chair of Willis North America, a promotion from within. Christine LaSala will fill the slot. LaSala has been with the global risk adviser, insurance and ...
Fitch Puts Watch on Brit plc
Fitch Ratings has placed some of Brit plc's ratings on Rating Watch Negative following an announcement that Fairfax Financial Holdings intends to acquire Brit for roughly $1.9 billion. The ratings ...
Swiss Re’s Restructuring Costs Slash Profit; $1.1B Share Buyback Begins
Swiss Re AG, swimming in excess capital from lower-than-expected disaster claims, reverted to share buybacks to return cash to investors after three years of paying special dividends. Following the ...
FEMA Seeks to Resolve Sandy Flood Insurance Claim Lawsuits
The Federal Emergency Management Agency is working on settling litigation with hundreds of Hurricane Sandy victims who challenged denials or alleged underpayments of flood insurance claims. Brad ...
Ironshore Eyes ‘Strategic Growth Opportunities’ After Fosun Buys 20% Stake
China's Fosun International has completed plans to grab a 20 percent stake in Ironshore Inc., a billion-dollar insurance holding company led by former AIG executives. The Shanghai-based investment ...