Insurance Agents & Brokers (IA&B), a tri-state trade organization based in Mechanicsburg, Pennsylvania, has hired Keith E. Foster, CPA, as chief financial officer/chief operating officer. Foster was formerly employed by Updegraff & Ruhl, Certified Publ…
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Nash to Retire as President of N.H. Association of Insurance Agents
Robert L. Nash, president of the New Hampshire Association of Insurance Agents (NHAIA), has announced his retirement effective Dec. 31, 2014. Nash, president of NHAIA since 2001, has spent 43 years in association management. Nash started his career wit…
Maryland Insurers Using ‘Price Optimization’ Ordered to File Corrective Action Plan
The Maryland Insurance Administration (MIA) issued a bulletin alerting insurers that the use of ‘price optimization’ in Maryland is in violation of §27-212(e)(1) of the state’s Insurance Article. MIA said it is requiring insurers that currently utiliz…
New Rules for New York Drivers Using Hand-Held Phones
New York state is imposing tougher penalties on motorists who use hand-held mobile phones while driving. As of Nov. 1, young and new drivers caught texting or using a cell phone without a hands-free device face a 120-day license suspension. The artic…
Mt. Logan Re Appoints Tobin as Chief Financial Officer
Mt. Logan Re Ltd., Everest Re Group’s special purpose reinsurer, has appointed Krystalle Tobin as its chief financial officer. Tobin was most recently with Hiscox Insurance Company (Bermuda) Ltd. where she was chief financial officer since June 2010. …
Foreign Mortgage Bond Buyers Surpass Danish Pension Funds, Insurers
International investors are overtaking Danish pension funds and insurers as the biggest buyers of the Nordic country’s covered mortgage bonds, creating new risks for the $500 billion market. The institutional investors have been trimming their holdin…
South Carolina Approves CAT Models, Weighs Building Public Model
South Carolina regulators have approved seven private catastrophe models for use in ratemaking while conducting a legislatively mandated study on the feasibility of constructing a public model. South Carolina Insurance Commissioner Ray Farmer recently …
XL Group Appoints New Technical Officer of Brazil Unit
XL Group has appointed Thisiani Matsumura Martins as technical officer of its insurance operation in Brazil, subject to approval by the local supervisory authority. She succeeds Juan Bragadin, who will continue working with XL Group as a consultant in…
Genstar Sells Significant Interest in Insurance Software Firm Insurity
Private equity firm Genstar Capital said it has sold a significant interest in Insurity, an insurance processing and data integration software business, to TA Associates, a Boston-based private equity firm. San Francisco Genstar acquired the insurance …
Aon Benfield Buys Safe Brokers to Enhance Presence in Greece, Cyprus
Aon Benfield, the reinsurance intermediary and capital adviser of Aon plc, has acquired Safe Brokers to strengthen its investment in the Greek and Cypriot markets. Safe Brokers is an independent reinsurance broker with facultative and treaty premium of…
