Crime process ostracism shields AIG from 3M’s burglary losses

SHUTTERSTOCK.COM Insurers including an American general Group Inc. section are not thankful to recompense 3M Corp. for mislaid gain caused by a investment advisers’ “Ponzi scheme” burglary underneath an ostracism in a crime policy, says a sovereign appeals justice in affirming a reduce justice ruling. Maplewood, Minnesota-based 3M began investing …

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Reinsurance pricing drops during Jun 1 renewals

A reinsurance marketplace awash in abounding ability saw rate declines continue during Jun 1 renewals, JLT Re, a reinsurance arm of Jardine Lloyd Thompson Group P.L.C., pronounced Thursday. The rate of those reductions accelerated, according to a company, whose Risk-Adjusted Florida Property-Catastrophe ROL Index fell by 5.1% this year, some-more …

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Innovation Awards module expanded, open for nominations

Business Insurance is usurpation nominations for a 2017 Innovation Awards. Now in their eighth year, a awards are being rested for 2017. In further to noticing creation in new products and services that insurers, brokers, record companies and other use providers emanate for veteran risk managers, a awards module will …

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Greenlight Re taps maestro reinsurance exec as CEO

Specialist reinsurer Greenlight Capital Re Ltd., Grand Cayman, Cayman Islands, on Friday pronounced it has hired Simon Burton as CEO, effective Jul 1. Mr. Burton, who will also be allocated to a company’s board, will attain Leonard Goldberg, who will step down as halt CEO though sojourn a member of …

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Pfizer defeats appeals over Zoloft birth defects

(Reuters) — Pfizer Inc. on Friday degraded an bid to revitalise some-more than 300 lawsuits alleging that a calmative Zoloft causes cardiac birth defects in children when taken by women during early pregnancy. A row of a 3rd U.S. Circuit Court of Appeals in Philadelphia inspected a Apr 2016 exclusion …

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Transportation insurer acquired

Summit, New Jersey-based Special Program Group, a holding association for specialty word underwriting facilities, on Friday pronounced it has acquired a resources of Paul Hanson Partners and a PHP International affiliate. Terms of a understanding were not disclosed. Napa, California-based PHP is a inhabitant module director that specializes in providing …

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Lawsuit accusing Whole Foods of overcharging is revived

(Reuters) — A sovereign appeals justice on Friday systematic Whole Foods Market Inc. to face a due class-action lawsuit accusing it of overcharging shoppers in New York City by overstating a weight of pre-packaged food in a supermarkets. The 2nd U.S. Circuit Court of Appeals in Manhattan pronounced a reduce …

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Virginia word commissioner to retire

Virginia Insurance Commissioner Jacqueline Cunningham will retire during a finish of a year, a Virginia State Corporation Commission’s Bureau of Insurance pronounced Thursday. Ms. Cunningham, who served 30 years with a word bureau, was allocated commissioner of word on Jan. 1, 2011, a elect pronounced in a statement. Ms. Cunningham …

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