Category: Show on Homepage

New Bond Insurer Berkshire Hathaway Assurance Looking to Expand to RI

According to a Warren Buffett spokesperson, new bond insurer, Berkshire Hathaway Assurance Corp, is looking to expand to Rhode Island after hearing that the state’s treasurer wanted it to apply for a license to operate in the state. “Rhode Island, here we come,” the spokeswoman quoted the billionaire investor as saying in an e-mail on… Continue reading New Bond Insurer Berkshire Hathaway Assurance Looking to Expand to RI

As Marsh Reorgization is Underway, Top Exec Departs

On Thursday, Marsh & McLennan Cos. announced the overhaul and reorganization of its insurance brokerage unit, saying it would consolidate the unit nto U.S.-Canadian and international divisions.At the same time, on Wednesday, Phil Moyles, chief executive of Marsh’s brokerage in the Americas, resigned. The reorganization is also to include the departure of Mark Feuer, chief… Continue reading As Marsh Reorgization is Underway, Top Exec Departs

Swett & Crawford Buys Risk Reducers

The Swett & Crawford Group, Inc., a leading wholesale insurance intermediary, announced today that it has acquired Risk Reducers, LLC, a wholesale insurance broker specializing in workers’ compensation. Based in Little Rock, Arkansas, Risk Reducers is a leading wholesale brokerage firm that writes workers’ compensation and specialized property and casualty insurance for the transportation, manufacturing… Continue reading Swett & Crawford Buys Risk Reducers

Renewal of NFIP Tops PCI’s Agenda for 2008

Renewal of the National Flood Insurance Program (NFIP) is among the leading federal legislative priorities in 2008 for the Property Casualty Insurers Association of America (PCI). PCI also will work to pass surplus lines and building codes legislation and to closely monitor developments on a variety of other natural catastrophe bills. Additionally, the association will… Continue reading Renewal of NFIP Tops PCI’s Agenda for 2008

Peltz Gets Clearance by FTC to Buy Marsh Shares

The U.S. Federal Trade Commission has cleared the way for activist billionaire investor Nelson Peltz and his companies for to buy shares of insurance broker Marsh & McLennan Cos Inc. Shares of Marsh & McLennan, which recently dismissed its chief executive, represent a new acquisition for Peltz. He is known for taking stakes in companies… Continue reading Peltz Gets Clearance by FTC to Buy Marsh Shares

Reinsurance Prices Drop Due to Lack of Storms in ’07

Guy Carpenter, Marsh & McLennan Cos Inc.’s reinsurance unit, stated on Wednesday that the cost of reinsurance has fallen after another relatively disaster-free year has likely led to large profits and increased pressure to cut prices.     Prices have fallen across the board in the important Jan. 1 renewals, when many major insurers renegotiate… Continue reading Reinsurance Prices Drop Due to Lack of Storms in ’07

A.M. Best Increases the Ratings of RTW’s Insurance subsidiaries to A-

RTW, Inc. (RTW), a wholly-owned subsidiary of Rockhill Holding Company and a leading provider of products and services to manage insured and self-insured workers’ compensation, disability and absence programs, today reported that A.M. Best Co. (Best), Oldwick, New Jersey, upgraded the financial strength ratings of American Compensation Insurance Company (ACIC) and Bloomington Compensation Insurance Company… Continue reading A.M. Best Increases the Ratings of RTW’s Insurance subsidiaries to A-

Bush Signed Child Health Program Over Holiday Weekend

President Bush over the holiday weekend signed legislation that extends a popular children’s health insurance program after twice beating back attempts to expand it. Previously Bush had vetoed bills that would have broadened coverage to more children. The extension of the State Children’s Health Insurance Program is expected to provide states with enough money to… Continue reading Bush Signed Child Health Program Over Holiday Weekend