August, 2007
LONDON?Broadcasting and telecommunications companies see damage to reputation as the number one risk to the media sector but still 30% have no risk management plans in place to tackle this threat, according to Aon Corp.?s Global Risk Management Survey 2007. The survey of more than 320...
TOKYO? Mitsui Sumitomo Insurance Co. Ltd. is shifting to a holding company structure in an effort to strengthen its management structure. The Tokyo-based insurer said it will implement the new structure, pending approval of shareholders and regulators, as soon as possible in 2008. ?The newly...
SAN MATEO, Calif.?Recently formed insurance brokerage Edgewood Partners Insurance Center is adding staff to its ranks. San Mateo, Calif.-based EPIC said Thursday that John Greenfield, formerly of ABD Insurance & Financial Services, joined the firm as a vp specializing in property/casualty...
NEW YORK?Three former executives with Marsh Inc.?s aviation practice have joined the aviation practice at the Aon Risk Services unit of Aon Corp. All three executives?Peter Schmitz, Robert Beyers and Tracy Toro?have been named managing directors and will be based in New York. Mr. Schmitz will lead...
Health insurance coverage provided to employees represented by labor unions costs more on average than coverage offered to nonunion employees, according to a survey. The survey, released Wednesday by the U.S. Bureau of Labor Statistics, found that for single coverage in which employee premium...
NEW YORK (Reuters)?The Illinois Supreme Court denied requests that would have reopened a case filed by the state's "light" cigarette smokers against Philip Morris USA, according to a court document. The 4-2 ruling, posted on the court's Web site Wednesday, stamps out efforts by plaintiffs to...
TALLAHASSEE, Fla.?Florida Insurance Commissioner Kevin McCarty has tightened his office?s code of ethics after a state inspector general?s report found he inappropriately used state resources by forwarding one e-mail related to a political campaign but did not pressure insurers to make...
TOKYO?Millea Holdings Inc. expects its losses related to subprime loans in the United States will amount to around 1 billion yen ($8.62 million), a small portion of its total exposure to those transactions. The Tokyo-based insurer said its exposure to the loans is around 26.2 billion yen ($224.
ANCHORAGE, Alaska (Reuters) - Exxon Mobil Corp has asked the U.S. Supreme Court to review a $2.5 billion fine against the oil company for the 1989 Valdez disaster, the nation's worst tanker spill. Exxon, in a petition filed Monday, argued the high court should overturn the punitive-damages verdict...
NEW YORK (Reuters)? Insurers may have to pay about $2 billion to cover losses stemming from Hurricane Dean, storm modeler Eqecat Inc. said on Wednesday. Oakland, California-based Eqecat said the majority of the losses occurred in Jamaica. Insured losses from the storm's two landfalls in Mexico...
