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Updated: 16 min 1 sec ago

Greenberg Calls New York Fraud Suit Waste of Time, Money

39 min 44 sec ago

Ex-American International Group Inc. Chairman Maurice “Hank” Greenberg said New York’s pursuit of him through a decade-old fraud suit is a waste of taxpayer money, as the two sides prepare for a trial next month. The suit has “fallen apart” …

The article Greenberg Calls New York Fraud Suit Waste of Time, Money appeared first on Insurance Journal.

XL Appoints Turner as Lead Consultant for Complex Accounts Team

1 hour 14 sec ago

XL Group announced it has appointed Rob Turner as lead consultant to establish its Complex Accounts capabilities in London. The company said it set up its Complex Accounts team in 2012 because it saw the opportunity and the market requirement …

The article XL Appoints Turner as Lead Consultant for Complex Accounts Team appeared first on Insurance Journal.

Validus Holdings Reports Net Income of $481.3 Million for 2014

2 hours 11 sec ago

Bermuda-based Validus Holdings Ltd. reported net income available to Validus of $125.9 million, or $1.38 per diluted common share, for the three months ended December 31, 2014, compared to $95.3 million, or $0.93 per diluted common share, for the three months …

The article Validus Holdings Reports Net Income of $481.3 Million for 2014 appeared first on Insurance Journal.

Former School Board Insurance Consultant Faces Ethics Charge in Louisiana

Thu, 01/29/2015 - 23:22

The Louisiana Board of Ethics has charged the Lafayette school board’s former insurance consultant with violating ethics laws by offering a school board member tickets to a New Orleans Saints game while “seeking a contractual and business relationship” with the school board. …

The article Former School Board Insurance Consultant Faces Ethics Charge in Louisiana appeared first on Insurance Journal.

Ohio’s Westfield Insurance Expands Responsibilities of Leadership Team

Thu, 01/29/2015 - 23:22

Westfield Insurance, a super-regional property/casualty insurance carrier based in Westfield, Ohio, announced the following changes to its leadership team: Mike Prandi has been named to the new role of insurance operations leader. He is responsible for the delivery of sales …

The article Ohio’s Westfield Insurance Expands Responsibilities of Leadership Team appeared first on Insurance Journal.

Insurance Among Reasons Organizers End Wyoming Hot-Air Balloon Fest

Thu, 01/29/2015 - 14:31

Organizers of an annual hot-air balloon festival in Wyoming have reluctantly decided to end the event after 19 years. Mikki Smith, organizing committee president, says the 12-member panel voted unanimously Jan. 21 to end the Wild West Balloon Fest in …

The article Insurance Among Reasons Organizers End Wyoming Hot-Air Balloon Fest appeared first on Insurance Journal.

ISU Cormarc Tasman in California Formed with Merger

Thu, 01/29/2015 - 14:29

ISU Cormarc Tasman Insurance Agency was recently formed by combining ISU Cormarc Insurance Services headquartered in Murrieta, Calif. with ISU Insurance Services Tasman in Ladera Ranch. The headquarters for the new agency will be in Murrieta. The office will serve both …

The article ISU Cormarc Tasman in California Formed with Merger appeared first on Insurance Journal.

Organized Family Insurance Ring Busted in Southern California

Thu, 01/29/2015 - 14:24

Detectives from the California Department of Insurance’s insurance fraud enforcement division arrested 15 Los Angeles area residents Thursday morning for allegedly staging auto collisions and filing more than $500,000 in fraudulent claims. Four suspects are still being sought, and an …

The article Organized Family Insurance Ring Busted in Southern California appeared first on Insurance Journal.

Deloitte Insurance Report Keys in on Climate Change

Thu, 01/29/2015 - 14:10

The potential impact of climate change on the insurance industry was important enough for consulting giant Deloitte Touche Tohmatsu Ltd. to include the topic as a significant part of its recent 2015 Property and Casualty Insurance Outlook. The bulk of …

The article Deloitte Insurance Report Keys in on Climate Change appeared first on Insurance Journal.

U.S. to Update Sex Discrimination Guidelines for Federal Contractors

Thu, 01/29/2015 - 14:00

The U.S. Department of Labor is proposing to clarify federal contractors’ requirements to prohibit sex discrimination. The recommended changes would revise the Office of Federal Contract Compliance Programs’ guidelines to align with laws, court decisions and societal changes since they …

The article U.S. to Update Sex Discrimination Guidelines for Federal Contractors appeared first on Insurance Journal.

Hub Northeast Hires Killeen as First VP of Private Client Services

Thu, 01/29/2015 - 13:19

Hub International Northeast, a division of Hub International Limited, has hired Lynn Killeen as first vice president of Private Client Services, focusing on further developing Hub’s family office practice. Based out of the firm’s New York City and Blue Bell, …

The article Hub Northeast Hires Killeen as First VP of Private Client Services appeared first on Insurance Journal.

AIR Worldwide Reports on This Week’s Northeast Blizzard

Thu, 01/29/2015 - 12:39

A blizzard in the Northeast this week primarily impacted eastern Long Island in New York, southeastern Connecticut, Rhode Island, eastern Massachusetts and Cape Cod and the islands, New Hampshire, and Maine, with record and near-record snowfall, high winds, and monumental …

The article AIR Worldwide Reports on This Week’s Northeast Blizzard appeared first on Insurance Journal.

Proposition Wagers Boost Super Bowl Betting

Thu, 01/29/2015 - 11:30

Fullback James Develin has 20-1 odds of becoming the first Ivy League player to score a touchdown in Super Bowl history. Television announcers talking about whether the New England Patriots used deflated footballs also could win money for bettors. Develin …

The article Proposition Wagers Boost Super Bowl Betting appeared first on Insurance Journal.

MetLife to Provide ‘Complete’ Rideshare Insurance for Lyft Drivers in Colorado

Thu, 01/29/2015 - 10:43

MetLife Auto & Home and Lyft, a nationwide transportation network company (TNC), have launched an auto insurance policy in Colorado tailored specifically for Lyft drivers that covers every stage of the trip. The growing use of ridesharing apps highlighted a …

The article MetLife to Provide ‘Complete’ Rideshare Insurance for Lyft Drivers in Colorado appeared first on Insurance Journal.

New Englanders Facing Snowy ‘Big Dig’ After Blizzard

Thu, 01/29/2015 - 10:38

New Englanders savaged by a blizzard packing knee-high snowfall and hurricane-force winds began digging out Wednesday, grudgingly praising forecasters who got grief from New Yorkers and others spared its full fury. The storm buried the Boston area in more than …

The article New Englanders Facing Snowy ‘Big Dig’ After Blizzard appeared first on Insurance Journal.

Insurance Executive Leaves $20M to Pittsburgh Theological Seminary

Thu, 01/29/2015 - 10:34

An insurance agent has left more than $20 million in his will to Pittsburgh Theological Seminary in Pennsylvania, the largest gift in the facility’s history. The Pittsburgh Post-Gazette reports the Presbyterian seminary announced the gift from Robert Thomson on Tuesday. …

The article Insurance Executive Leaves $20M to Pittsburgh Theological Seminary appeared first on Insurance Journal.

Wyoming Fracking Trade-Secret Justification Required Under Deal

Thu, 01/29/2015 - 09:41

A legal settlement will require petroleum companies to provide justification when they ask Wyoming regulators to withhold from the public details about the chemical products they pump underground. Last year, the Wyoming Supreme Court sided with a landowners group and …

The article Wyoming Fracking Trade-Secret Justification Required Under Deal appeared first on Insurance Journal.

Palmer Ace at Phoenix Open Will Cost Someone $50K

Thu, 01/29/2015 - 09:13

If pro golfer Ryan Palmer makes a hole-in-one on the 16th hole at the Waste Management Phoenix Open today through Sunday, someone’s on the hook for $50,000. The hole-in-one policy is from Acersgolf.com, owned by Western Security Surplus Insurance Brokers …

The article Palmer Ace at Phoenix Open Will Cost Someone $50K appeared first on Insurance Journal.

Texas Yogurt Company Founder Gets 5 Years in Prison for Arson

Thu, 01/29/2015 - 08:55

The founder of a popular yogurt company is in prison after admitting he set the business ablaze in a fit of anger over investors’ handling of the company. The Dallas Morning News reports a judge has sentenced 56-year-old Edgar Diaz …

The article Texas Yogurt Company Founder Gets 5 Years in Prison for Arson appeared first on Insurance Journal.

Consultant: Lafayette Parish Needs 15 Fire Stations

Thu, 01/29/2015 - 08:51

A consultant says 15 additional fire stations are needed in unincorporated parts of Louisiana’s Lafayette Parish to protect citizens and keep insurance costs down. Tom Cassisa, a fire rating consultant hired by Lafayette Consolidated Government, presented the findings Tuesday of …

The article Consultant: Lafayette Parish Needs 15 Fire Stations appeared first on Insurance Journal.

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