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The 30-person team move represented the latest raid from the UK-headquartered broker on Marsh McLennan. -
The broking giants did not reveal whether any money changed hands to settle the dispute over a dozen senior defections.
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Am Re claims that it underwrote reinsurance agreements on GIC Re’s behalf for 2022, but that the Indian carrier then terminated the binding authority and refuses to pay the agreed commissions.
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An examination of the costs of claims found a 21.3% increase in total costs in 2019 over 2015 when an attorney is involved.
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The Department of Insurance found various violations including operations and management, complaint handling, underwriting and rating practices, and claims handling.
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The Washington state regulator’s permanent rule to ban the use of credit scoring data for three years is turning the Washington insurance market into “chaos”, APCIA said.
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Aggregate settlements during 2021 amounted to $1.8bn, falling 18.2% from the $2.2bn aggregate amount in 2020, Nera data showed.
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The carrier seeks to recover 14,217 shares valued at $473,620.40 from Stanley, in addition to the dividends the executive earned on the stock.
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The brokers will have until early 2023 to settle the case via private mediation or the case will move forward to a jury trial that could last between seven and 10 days.
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The OSHA regulation requiring employees at large businesses to get Covid vaccine was thrown out, but justices allowed the healthcare worker mandate to stand.
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Justices appear to lean toward overturning OSHA rule requiring jabs for 100 workers or more; medical mandate also in play.
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Almost 130 insurers claim that the defendants failed to prepare for the power loss that caused “significant property damage” to carriers and policy holders.
