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Indonesia Takes Action to Rescue State Insurers, Potentially Raising Funds

Indonesia will appoint state financial firm PT Bahana Pembinaan Usaha Indonesia as a holding company for state insurers to improve their finances, a deputy minister said on Thursday, as the government puts together a rescue plan for a second troubled … Source: Insurance News

Japan Firms Have Done Little to Build Resilience Against Increasing Floods: Reuters Poll

17Januaryadmin

Japanese companies have contingency plans for the floods that increasingly drench this island nation, but most have done little to fortify facilities, relying instead on insurance and securing alternative supply sources, a Reuters poll found. Japanese have long been conditioned … Source: Insurance News

Chubb Names Côté as Head of Major Accts, Europe; Brionne as France Country President

16Januaryadmin

Chubb announced a series of changes to its European leadership team: a new head of Major Accounts for Europe; a new country president for France and a new director of Accident & Health Continental Europe. Nadia Côté has been appointed … Source: Insurance News

Florida Legislative Session 2020: Insurance Bills to Watch

16Januaryadmin

The Florida insurance industry will be focused on several key issues this session, including reform for auto glass (windshield) assignment of benefits (AOB) abuse, reforms to the state’s legal system, as well as changes to the Florida Hurricane Catastrophe Fund. … Source: Insurance News

Florida Legislative Preview 2020: Industry Calls On Lawmakers to Reform Lawsuit Abuse

16Januaryadmin

The Florida Legislature started its 2020 legislative session this week and lawmakers are set to consider a number of insurance-focused issues over the course of the 60-day period. At the top of the list for industry and consumer advocates are … Source: Insurance News

HCI to Acquire Policies of Florida’s Anchor P&C; Weston to Acquire Anchor Specialty

15Januaryadmin

Two Florida-based homeowners insurers, Anchor Property & Casualty and Anchor Specialty Insurance, have succumbed to market pressures in the state and will be acquired by other companies. Tampa, Fla.-based HCI Group has entered into a preliminary agreement for its subsidiary … Source: Insurance News

Ed Broking Appoints Kelley from Sompo Int’l as Head of Bermuda Liability Division

15Januaryadmin

Ed, the global reinsurance, wholesale and specialty broker, announces the appointment of Colin Kelley as head of Ed’s new Liability Division in Bermuda. Effective immediately, Kelley will lead the professional lines, casualty and healthcare teams. Kelley brings more than 16 … Source: Insurance News

Spike in Piracy in Singapore Strait Prompts Calls for Improved Security

15Januaryadmin

Coastal nations around the Singapore Strait must step up surveillance and patrols of the strategic waterway after a sharp rise in piracy incidents last year, maritime watchdog ReCAAP said on Wednesday. The number of piracy and armed robbery incidents in … Source: Insurance News

BPB UW Management Launches Underwriting Agency as MGA Incubator

14Januaryadmin

BPB UW Management Ltd (BPBUW) has launched an underwriting agency focused on nurturing individual MGA businesses. Its executive team is led by Chairman Jonathan Palmer-Brown, CEO John Holm, COO Margaret Ryan and Executive Director Robin Blunt. BPBUW’s business strategy is … Source: Insurance News

P. Barrett Brown Named President of Brown & Brown Retail Business

14Januaryadmin

Insurance broker Brown & Brown announced the appointment of P. Barrett Brown as an executive vice president and president of the company’s retail business. Most recently, Brown served as a senior vice president and a regional president in the retail … Source: Insurance News