09 Jul
Posted by Lucas Falkiner as Insurance Tips
Marsh has created a new form of insurance protection designed to provide coverage for Foreign Corrupt Practices Act investigations.
Developed by Marsh’s Financial and Professional Liability Practice , FCPA Corporate Response provides cost of investigation coverage for both individuals and the organization. The insurance policy can be triggered by anti-corruption investigations launched under the FCPA as well as those initiated pursuant to the U.K. B
09 Jul
Posted by David Cambridge as Insurance Tips
As a business insurance broker, we act for you, the client. Although we are agents of the insurers we deal with, our role is to get customers, new and existing, the best deal we can, for the best price. In a way, this is no more than you would expect from every business you purchase a service from. To get the cheapest, but also the best.
Anyone who has read our previous blogs will know that we get a bit frustrated when we have quoted a perfectly good, wide ranging, insurance policy and our potential customer says they have a had a quote for less, from an insurer that we have never heard of.
Securian Financial Group Inc. has agreed to acquire Balboa Life Insurance Company and a sister company from Bank of America Corp.
Securian, St. Paul, Minn., hopes to get the regulatory approvals it needs to complete the acquisition of Balboa Life, Irvine, Calif., and Balboa Life Insurance Company of New York by Oct. 1.
The price of the deal was not immediately available.
Balboa Life was incorporated in 1968 and ended 2010 with $16 million in national premium revenue and about $48 million in assets, according to the Texas Department of Insurance.
Bank of America, Charlotte, N.C. (NYS
07 Jul
Posted by Lucas Falkiner as Insurance Tips
A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ and the issuer credit rating of “a+” of Lloyd’s Syndicate 1084. In addition Best affirmed the ICR of “bbb” of Chaucer Holdings PLC , an intermediate parent company of the syndicate’s managing agent, Chaucer Syndicates Ltd. . The outlook for all ratings remains stable. Best subsequently withdrew the ICR of CHP.
Best explained that the acquisition of CHP by The Hanover Insurance Group was completed on July 1, 2011. “CHP has been delisted and is now the intermediate holding company of CSL and Chaucer Corporate Capital Limited , which is a corporate member of syndicate 1084.”
Best said the “ratings of syndicate 1084 reflect the financial strength of Lloyd’s of London, which underpins the security of all syndicates. Most of the syndicate’s c
07 Jul
Posted by David Cambridge as Insurance Tips
As part of our business insurance broking role, we have to go through a fact finding process. This usually takes the form of a conversation with a customer. We do not like to use pre-printed forms because one minute you could be speaking to a publican, the next an aerobics instructor and after that a UK citizen, living in Australia, trying to sort out cover on the propery that they let out in the UK (and yes, these are real and we managed to get all three quotes converted to policies).
Speaking to the last customer, the property owner, I asked what materials the roof was constructed of. To which he replied, I do not know I have never been in the roof.