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Daily NewsFlash : May 30, 2013

Daily NewsFlash
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Thursday, May 30, 2013

Pace of Catastrophe Bond Issuance Picks Up

Castrophe BondsAs the U.S. hurricane season approaches, catastrophe bond sponsors are taking advantage of a surge in investor enthusiasm to renew existing deals at much lower rates and expand or initiate insurance-linked secur...

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Canada: Weather Disasters Increasing, Insurance Industry Warns

Insurance Bureau of CanadaThe Insurance Bureau of Canada says the frequency, severity and cost of extreme weather in Canada are increasing, with Alberta leading the way.

Alberta accounted for 67 percent of disaster payouts in Canada, according to the bureau.

Don Forgeron, the organization's CEO, says Canada has bee...

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Court Green Lights Lawsuit Against KPMG in Madoff Fraud

Madoff fraudA group of investors can sue the audit firm KPMG for its role in certifying the financial statements of two hedge funds that invested their money with Bernard Madoff, an appeals court has affirmed.

In a decision last week, the Massachusetts Appeals Court ruled that 26 investors who l...

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Florida Governor Scott Signs Citizens Insurance Reform Bill, Criticizes Company in Letter

Citizens reform billFlorida's Governor Rick Scott wasted no time signing a bill to reform Citizens Property Insurance Corp., which has seen a whirlwind of criticism since it approved a special $52 million deal for an upstart company with ties to top politicians last week. 

Scott signed SB 1770 on Wednesday, one day...

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Conflict Minerals - How Dodd-Frank Is Impacting the High-Tech Industry: Marsh

MarshSection 1502 of the Dodd-Frank Act, also known as the Conflict Minerals Requirement, compels US firms to verify that the proceeds from conflict minerals used in their goods are not helping fund armed groups in the Democratic Republic of the Congo (DRC) and neighboring countries.

With survey after survey showing tha...

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Axis Insurance Services, LLC to Exhibit at Upcoming PLTA Convention

Axis InsuranceAxis Insurance Services, LLC is proud to announce it will be exhibiting at the 92nd annual Pennsylvania Land & Title Association Convention (PLTA), in Cambridge, MD from June 2nd - 4th.

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Willis North America Appoints Personal Lines Leadership Team

Willis Personal Lines TeamWillis North America, a unit of Willis Group Holdings, a leading global risk advisor, insurance and reinsurance broker, today announced a series of appointments to its Personal Lines Practice as part of its succession plan.

Willis' Personal Lines Practice is an industry leader in personal insur...

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Endurance Taps Axis Capital Founder as New Chairman, CEO

Endurance Specialty HoldingsEndurance Specialty Holdings Ltd. said it's named John R. Chairman, a major shareholder and the founder and former chief executive officer of Axis Capital Holdings Ltd., to be the company's chairman and CEO, effective immediately.

He succeeds David Cash, who stepped down as the ...

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