Industry News
Longtime Canopius Exec Plans to Retire in June
A longtime Canopius Group Ltd. executive is retiring, even as the global specialty reinsurer now owned by a Japanese insurance giant gears up for a U.S. expansion. James Giordano, executive chairman ...
New York Regulators Launch Price Optimization Inquiry
The New York Department of Financial Services (DFS) is seeking information about price optimization from hundreds of property/casualty insurers operating in the state. New York joins a growing number ...
Travelers Offers Tips to Help Homeowners Weather Spring
Melting snow and spring storms are among the top causes of springtime property damage, Travelers warns. Travelers looked at claim data from 2012-2014 and found that damage from hail, windstorms and ...
Berkshire, Ironshore in E&S Top 10; XL Catlin May be Next: SNL Data Analysis
Berkshire Hathaway and Ironshore were among the top 10 writers of U.S. excess and surplus lines business in 2014, according to data compiled by SNL Financial. XL Group and Catlin Group haven't made ...
Fireman’s Fund Settles Crop Insurance Fraud Charges for $44M
Fireman's Fund Insurance Co. has agreed to pay $44 million to settle allegations under the False Claims Act that it knowingly issued insurance policies that were ineligible under the U.S. Department ...
Willis Appoints Marsh Exec Global Head of Alternative Risk Transfer
Willis Group Holdings has appointed Marc Paasch as the global head of its alternative risk transfer (ART) solutions. Paasch will report to John Merkovsky, Willis's global head of risk and analytics, ...
ACE Unveils Enhanced Clinical Trial Coverage for U.K.-Based Life Sciences Companies
ACE Group is unveiling expanded clinical trials liability coverage for U.K.-based life sciences companies, a product designed to cover their studies conducted around world. The new enhanced clinical ...
International Capital Standards Will be Slow in Coming: FIO’s McRaith
Insurers could see some version of an international capital standard by 2016, Federal Insurance Office Director Michael McRaith told a recent gathering of industry professionals in Washington, D.C. ...