Insurance industry rises up against business interruption lawsuits

The insurance industry has filed more than 24 briefs opposing multidistrict litigation, following in the footsteps of arguments posed in a brief by two Chubb affiliates that stated consolidation would complicate and prolong the litigation, according to Reuters. The insurers were joined by plaintiffs’ firms, some with MDL experience, who also don’t want their cases […]

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AXIS Re taps new head of agricultural reinsurance

AXIS Re, the reinsurance business segment of AXIS Capital Holdings, has announced the appointment of Michael Leahey as head of agricultural reinsurance, effective July 01. In his new role, Leahey will be responsible for setting the strategy, optimizing the portfolio and leading underwriting for AXIS Re’s agriculture business. He will be based in Zurich and […]

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Wright Specialty Insurance launches P&C program for public entities

Wright Specialty Insurance is introducing a new specialty insurance program, featuring comprehensive P&C coverages and risk management services, for small to medium-sized municipalities. The new municipality insurance program will feature coverages such as general liability, property, equipment breakdown, inland marine, crime, public officials, employment practices, law enforcement, educators’ legal liability, commercial auto, and excess liability. […]

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Gallagher acquires real estate-focused firm CRES Insurance Services

Arthur J. Gallagher & Co. (AJG) has acquired the insurance and risk management firm CRES Insurance Services. Terms of the transaction were not disclosed. Founded in 1996, CRES is a Las Vegas, NV-based firm that designs, markets and services comprehensive errors & omissions insurance and risk management services to real estate companies and professionals across […]

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Willis Towers Watson adjusts incentive plan for leaders

Broking giant Willis Towers Watson has altered its 2020 short-term incentive (STI) compensation programme for executive officers of the Irish-domiciled enterprise, without changing the general principles applicable to the STI plan for the company’s wider employee base. In a Form 8-K filing with the US Securities and Exchange Commission, Willis Towers Watson noted: “These changes […]

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Kennedys opens first West Coast office

Booth was senior partner of Hinshaw’s maritime and energy practice. He, Schultz and Thames currently have one of the largest maritime practices in San Francisco, Kennedys said. Booth’s practice is focused on insurance and reinsurance, with an emphasis on defense of claims and disputes, litigation, admiralty and maritime claims, insurance coverage, marine insurance, oil and […]

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Worldwide Facilities acquires Royal Oak Underwriters

National wholesale insurance broker, managing general agent, and program underwriter Worldwide Facilities has acquired Royal Oak Underwriters in Richmond, VA. Royal Oak is an excess and surplus lines insurance wholesaler that offers a range of specialty products to retail agents in Virginia, Maryland, Washington DC, Pennsylvania, North Carolina, and Tennessee. Led by CEO Patti Nunnally, […]

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Pandemic risk expert examines longer-term impacts of COVID-19

In times of crisis, human nature dictates that we focus on the present with microscopic vision. As COVID-19 wreaks havoc worldwide, businesses have entered survival mode. They’re focused on the short-term impacts of the pandemic, with their top concerns being whether they’ll be able to meet payroll and pay next month’s rent. Other medium- and […]

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Amalgamated CEO on rebrand and national diversification

This diverse background prepared Mallen to take on the CFO role at Amalgamated – an organization with multiple companies, including: Amalgamated Life Insurance Company; AliCare (soon to be known as Amalgamated Employee Benefits Administrators), a third-party administrator; AliCare Medical Management (soon to be known as Amalgamated Medical Care Management), a medical care management firm; Amalgamated […]

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Willis Towers Watson hit by class action lawsuits over Aon merger

London-headquartered and Irish-domiciled Willis Towers Watson has quite a lot on its plate, with multiple shareholder class action lawsuits filed against the broking giant in connection with its proposed mega merger with fellow goliath Aon Plc.       The latest to announce the filing of a lawsuit is New York-based investor rights law firm Halper Sadeh LLP, […]

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