Hurricane Irene swamps midsize businesses without flood insurance - Business Insurance
Risk management in theory and practice, including evolving risk strategies, risk financing, the risk management profession, risk analytics and core property/casualty coverage issues.
Developments and trends affecting buyers of specialty insurance lines, including D&O, E&O, employment practices liability, cyber risk, marine and transportation, and surplus lines.
News and analysis about the legislative, legal and insurance market issues that affect workers compensation managers, as well as strategies for reducing comp claims and costs, promoting workplace safety and returning injured employees to work.
Helping executives at midsize firms address people risks, such as benefits, workers comp and professional liability; property and liability risks, including insurance and loss control; and operational growth risks such as M&A and product development.
Hurricane Irene swamps midsize businesses without flood insurance - Business Insurance
Prima Solutions Completes a EUR1.4 Million Financing Round to Accelerate Its … - MarketWatch (press release)
CHICAGO, Sep 01, 2011 (BUSINESS WIRE) -- Prima Solutions, the provider of a complete software offering for Life, P&C, Large Commercial Risks and Reinsurance Software, today announced it has completed a EUR1.4 million round of funding. The financing is exclusively provided by existing shareholders, confirming their support to Prima Solutions' strategy to be the leader in insurance software for brokers, insurance, mutual insurance and reinsurance companies.
Prima Solutions plans to use the funds to expand its market position through a combination of external acquisitions and internal growth by leveraging its existing customers and products.
Prima Solutions plans to use the funds to expand its market position through a combination of external acquisitions and internal growth by leveraging its existing customers and products. "Since its creation, Prima Solutions has been helping forward-looking insurance organizations improve IT efficiency and agility, grow top-line and cut operating costs with its standards-based insurance platform. Following the acquisition last year of a Paris-based insurance software provider, Prima Solutions is now able to provide a complete insurance software solution suite. This new financing round will enable us to add more solutions and products to our portfolio for the benefit of our customers", said Hugues Delannoy, Prima Solutions' CEO.
Prima Solutions ( www.prima-solutions.com ) provides brokers, insurance, mutual insurance and reinsurance companies with a complete software offering for Life, P&C, Large Commercial Risks and Reinsurance.
Prima Solutions Completes a EUR1.4 Million Financing Round to Accelerate Its ... - MarketWatch (press release)
Tokio Marine buys insurer from CNA for $165M - BusinessWeek
Chicago-based CNA, a property and casualty insurer, said Thursday that it will sell its interest to Tokio Marine & Nichido Fire Insurance Co. Ltd.
Tokio Marine said the acquisition price is $165 million (approximately 12.9 billion yen) and it will be financed through cash on hand. "This sale is another step in streamlining our operations and focusing on our core strategies," said Tom Motamed, CEO of CNA.
The sale, which is subject to regulatory approval, is not expected to have a material impact on CNA's book value, but it will increase the company's statutory surplus.
Tokio Marine said the Hawaii company will become a wholly owned subsidiary. The acquisition is part of a Tokio Marine plan to expand its international business.
Tokio Marine buys insurer from CNA for $165M - BusinessWeek
CNA Select Risk Appoints Carol Stark Vice President, Casualty and Programs - MarketWatch (press release)
CHICAGO, Aug 22, 2011 (BUSINESS WIRE) -- CNA Select Risk - which includes Excess & Surplus (E&S) business, as well as Wholesale Property accounts - announced the appointment of Carol Stark as vice president of Casualty and Programs.
Stark comes to CNA with 21 years of business experience, including five years practicing insurance legal defense; eight years in insurance claims management at Zurich; and eight years of underwriting experience at Zurich and AIG/Chartis. Prior to joining CNA, she served as vice president and casualty manager for Chartis' Global, WorldSource Division. Stark holds the Associate in Claims (AIC) and Chartered Property Casualty Underwriter (CPCU) designations.
To find out more about Select Risk Casualty's appetite and capabilities, please contact Stark at 312-822-1529. CNA has the expertise, broad coverages and ability to offer customized insurance solutions to address all commercial insurance needs. For more information on CNA Select Risk coverages or related products and services, please visit www.cna.com/selectrisk or email cnaselectrisk@cna.com.
Serving businesses and professionals since 1897, CNA is the country's seventh largest commercial insurance writer and the 13th largest property and casualty company. CNA's insurance products include standard commercial lines, specialty lines, surety, marine and other property and casualty coverages. CNA's services include risk management, information services, underwriting, risk control and claims administration. For more information, please visit CNA at www.cna.com . CNA is a registered trademark of CNA Financial Corporation.
CNA Select Risk Appoints Carol Stark Vice President, Casualty and Programs - MarketWatch (press release)
Tokio Marine to buy 100% of First Insurance Co. of Hawaii - Pacific Business News
Tokio Marine, which is already a 50 percent owner of the Honolulu-based property and casualty insurer, said Thursday it would acquire the other 50 percent from Continental Insurance Co., a subsidiary of Chicago-based CNA Financial Corp.
The transaction, which requires regulatory approval in the U.S. and Japan, is expected to close in the fourth quarter, First Insurance said in a news release.
Shuzo Sumi said the acquisition is part of the Tokyo-based companyâs long-term growth strategy. âFirst Insuranceâs in-depth knowledge of its market, its reputation for excellent customer service and its commitment to social responsibility are an exact match to the approach of Tokio Marine in all our markets,â he said.
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Tokio Marine to buy 100% of First Insurance Co. of Hawaii - Pacific Business News
CNA Appoints Al Miralles Senior Vice President, Treasury and Investment Management - MarketWatch (press release)
CNA -9.38% announced that, effective August 22, Al Miralles will join as senior vice president of Treasury & Investment Management. In this critical role, Miralles will lead and provide overall strategic direction for Investment Accounting, Internal and External Investment Reporting, Asset Management, and Treasury. In addition, he will also serve on the Investment Committee which sets strategic direction and provides critical oversight for the global insurer's investment portfolio.
Miralles brings to CNA more than two decades of experience in the insurance and financial services industry. He most recently served as chief financial officer, Nationwide Investments at Nationwide Mutual Insurance Company where he had financial oversight for a $60 billion investment portfolio, as well as management of a team with responsibility for Finance, Operations, and Strategy for Nationwide's primary fixed income portfolio. In addition, he served as a member of the Investment Leadership Team, Investment Risk Committee, Enterprise Finance Council, Pricing/Valuation Committee, and Investment Advisor Committee. He has also held leadership roles at Bankers Trust, Wachovia, Enron and Countrywide Financial.
Serving businesses and professionals since 1897, CNA is the country's seventh largest commercial insurance writer and the 13th largest property and casualty company. CNA's insurance products include standard commercial lines, specialty lines, surety, marine and other property and casualty coverages. CNA's services include risk management, information services, underwriting, risk control and claims administration. For more information, please visit CNA at www.cna.com . CNA is a registered trademark of CNA Financial Corporation.
This press release may include statements which relate to anticipated future events (forward-looking statements) rather than actual present conditions or historical events. These statements are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and generally include words such as "believes", "expects", "intends", "anticipates", "estimates", and similar expressions. Forward-looking statements, by their nature, are subject to a variety of inherent risks and uncertainties that could cause actual results to differ materially from the results projected. Many of these risks and uncertainties cannot be controlled by CNA. For a detailed description of these risks and uncertainties please refer to CNA's filings with the U.S. Securities and Exchange Commission, available at www.cna.com . Any forward-looking statements made in this press release are made by CNA as of the date of this press release. Further, CNA does not have any obligation to update or revise any forward-looking statement contained in this press release, even if CNA's expectations or any related events, conditions or circumstances change.
CNA Appoints Al Miralles Senior Vice President, Treasury and Investment Management - MarketWatch (press release)
Insurer fights bill for ex-murder suspect’s lawsuit - Chicago Tribune
Kings of Leon canceled the remainder of their summer tour Monday, including an Aug. 26 concert at First Midwest Bank Amphitheatre inTinley Park, Ill.
D.B. Cooper, the infamous hijacker who leaped to fame from a jetliner nearly 40 years ago, may, in fact, be a man who died of natural causes a decade ago, according to a "credible" tip under investigation by the FBI.
Jerry Hobbs seeks compensation for his arrest and prosecution on charges he killed his 8-year-old daughter, Laura, and her 9-year-old friend, Krystal Tobias, in a Zion park in 2005. DNA evidence freed him after he spent five years in jail.
Lawyers for St. Paul Fire and Marine Insurance Co., which covers the local governments responsible for Jerry Hobbs' arrest and prosecution, are asking a judge to declare that it won't have to pay the costs of fighting his lawsuit or any financial compensation a court might award.
Insurer fights bill for ex-murder suspect's lawsuit - Chicago Tribune
New Details Emerge in the Death of Chicago School Board President Michael Scott - Chicagomag.com
SHADOWS OF DOUBT: Nearly two years after Michael Scott turned up dead in the Chicago River, we reveal exclusive new details about his final hours—clues that only deepen the mystery of what really happened on that sad November day.
By David Bernstein (page 1 of 6) “I never imagined my dad dying the way he did,” says Michael Scott Jr., the son of Michael Scott, pictured here in August 2009, three months before his apparent suicide.
D usk was creeping in on the crisp and overcast November Sunday when Michael Scott went missing. That afternoon, just as he did every Sunday, Scott, president of the Chicago Board of Education, left his home after lunch to visit his sister, Beryl, at the South Loop nursing home where she lived. On his way, he stopped at his favorite pizza place, Tomato Head on West Randolph Street, to pick up a small thin crust with sausage for her.
Scott’s usual Sunday routine ended there. Around 4:15 p.m., he left the nursing home. A nurse who saw him leave later told investigators that he seemed preoccupied. Normally, she said, the 60-year-old Scott, a natural schmoozer, chitchatted with the staff. But on this day, he left quickly, head down and in no mood for small talk. Then he disappeared.
New Details Emerge in the Death of Chicago School Board President Michael Scott - Chicagomag.com
CNA Appoints David Linhardt Vice President of Its Oklahoma and Arkansas Branches - MarketWatch (press release)
CNA +0.55% announces the appointment of David Linhardt as vice president of its Oklahoma and Arkansas branches. In this role, Linhardt is responsible for synchronizing branch operations with CNA's strategic goals for long-term success, including increasing local authority at the point of sale and improving service to agents and brokers in these territories.
Linhardt has a 20-year insurance career that reflects a consistent record of success in underwriting, as well as relationship and field management. He joins CNA from The Travelers Insurance Company, where he served as regional director of field management responsible for leading its Midwest region team to ensure achievement of new business development and premium growth goals for all agents and brokers. Prior to that, he held leadership roles with St. Paul Fire & Marine, Marsh, Inc., Fireman's Fund Insurance Company, and W.R. Berkley Companies.
For more information about CNA's Oklahoma and Arkansas branches and related commercial insurance solutions, please call Linhardt at 405-767-5014 (OK) or 501-223-1211 (AR); or visit www.cna.com .
Serving businesses and professionals since 1897, CNA is the country's seventh largest commercial insurance writer and the 13th largest property and casualty company. CNA's insurance products include standard commercial lines, specialty lines, surety, marine and other property and casualty coverages. CNA's services include risk management, information services, underwriting, risk control and claims administration. For more information, please visit CNA at www.cna.com . CNA is a registered trademark of CNA Financial Corporation.
CNA Appoints David Linhardt Vice President of Its Oklahoma and Arkansas Branches - MarketWatch (press release)
Japanese Market Trades Higher - RTT News
Stocks Rally For Fourth Consecutive Session - U.S. Commentary (RTTNews) - The Japanese market is trading firm on Friday with investors tracking cues from Wall Street where stocks closed stronger amid easing worries about Greece and an encouraging report on Chicago-area manufacturing activity.
Financial, textiles, insurance, pharmaceuticals and automobile stocks are mostly trading higher. Marine transport and electric power stocks are trading mixed.
The benchmark Nikkei 225 index, which rose to 9,900.6 in early trades, is currently at 9,866, up 49.9 points or 0.5 percent over its previous close.
Fanuc Corp., the top gainer in the Nikkei index, is up nearly 4 percent now. Casio Computer, Dainippon Screen, Fujikura, SM Trust, T&D Holding, Mitsumi Electric and Marui Group are gaining 2 to 3 percent.
Japanese Market Trades Higher - RTT News