Lloyd’s Chairman, Lord Peter Levene, described a bright future, but one that needs work to be achieved, for those attending the 2006 conference of the Association of Lloyd’s Members (ALM) last week. He stressed three major areas of concentration, where …
International P/C insurer and reinsurer Catlin Group Limited, has formed a crisis management underwriting team that will write product recall and kidnap and ransom (K&R) coverages, effective 1 July 2006. Catlin’s origins are in the U.K., but it is headquartered …
The former president of Crop Hail Management Inc. in Bigfork, Mont., pleaded guilty wire fraud and money laundering. Myron “Mike” Felt will be sentenced Oct. 19. Felt admitted defrauding 23 insurance companies and other business and state governments with a …
It will cost more than $1.3 million to repair Western Kentucky University’s Cherry Hall, which was damaged by an arson fire April 23. Western’s President Gary Ransdell said the university has about half the money it needs from its insurer …
More than 9,500 insurance clients of Aon Corp. in Washington are qualified to share $2.4 million in restitution as part of an agreement signed by Insurance Commissioner Mike Kreidler. Kreidler said the restitution is part of an agreement with the …
Florida has approved a 2 percent surcharge on all property insurance policies to help cover outstanding claims for one of Florida’s largest property insurers, whose insolvent subsidiaries are being liquidated under state control because of hurricane losses. Poe Financial Group …
A defunct Baltimore company has pleaded guilty in Charleston, W. Va. to a federal fraud charge for billing the state of Workers’ Compensation Division for services that were never provided. RTW Rehabilitation Services Inc., which admitted submitting fraudulent bills between …
A lawyer asked a judge last Thursday to protect New York City and about 150 private contractors from lawsuits filed by thousands of emergency workers who got sick after working in the dust of the World Trade Center. The lawyer, …
Wal-Mart and other retailers challenged Maryland’s new law requiring Wal-Mart to spend more on employee health care, arguing before a Baltimore judge last week that only the federal government may dictate health spending by private companies. Maryland’s law requiring large …
A new study just released by the National Oceanic and Atmospheric Administration details the weather-prediction benefits of a national transition from existing weather radar systems to a newer system using a multifunction phased array radar. Such a system would make …