Executive roundup: new appointments at Hamilton Insurance Group, Chubb, CNA

Hamilton’s new CEO’s experience includes heading a unit at Munich Re Canada
Staff on October 20, 2017

The week ended with a flurry of executive appointments for insurers that operate internationally. Here is Canadian Insurance Top Broker’s executive roundup:Hamilton Insurance GroupPina Albo has been appointed CEO of the Bermuda-based holding company for P&C insurance and reinsurance operations in the U.S., Bermuda and at Lloyd’s. The company’s announcement notes the appointment is subject to approval by Bermuda’s department of immigration.
Albo is expected to fill the role on Feb. 1, 2018 and will succeed David Brown, who was named interim CEO following Brian Duperreault’s departure earlier this year.
Related: AIG welcomes new CEO, Brian Duperreault
Albo was most recently a member of the board of executive management at Munich Re where her responsibilities included P&C business and operations in Europe and Latin America. She began her career as a lawyer in Toronto and her experience also includes time as head of casualty operations at Munich Reinsurance Company of Canada.
ChubbThe insurer made a number of changes to its global government and industry affairs group.
Jodi Hanson Bond takes on the role of senior vice president within this group on Nov. 1. She will oversee and coordinate Chubb’s global government relations activities, providing leadership and strategic direction on government affairs to support the company’s insurance and reinsurance operations globally. Bond was previously senior vice president of the Americas at the U.S. Chamber of Commerce.
Related: Chubb names six new leaders to global, North American units
Bond succeeds Patricia Henry who will retire from the role at the end of the year. Following her retirement, Henry will continue to provide advice and counsel to Chubb in a consulting role.
Yancy Molnar will be senior vice president and head of international government affairs and public policy. Molnar will direct the company’s international government affairs, which includes representing Chubb with U.S. and foreign government officials in connection with the company’s international activities.
Karen Valanzano has been appointed senior vice president and head of federal government and political affairs. Valanzano will direct the company’s activities in connection with federal legislative matters, including representing Chubb before the U.S. Congress and various federal agencies.
CNAKatie Wilson was appointed to the role of senior vice president of underwriting services within the company’s commercial unit. She is responsible for driving the overall strategic direction and general management of underwriting services.Related: Nick Creatura to lead CNA Canada
Wilson joined CNA in 2005 as vice president of package and general liability underwriting. She most recently served as vice president of general liability of cyber and E&O underwriting.
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California fires razed 8,400 buildings, will cost more than US$1 billion

The fires also led to the deaths of 42 people
The Associated Press on October 20, 2017

Some Northern California residents who fled their houses nearly two weeks ago as wildfires threatened them started returning home Friday to see what is still standing. Authorities raised the number of buildings destroyed by the fires to 8,400.The residents of three neighbourhoods in the hard-hit city of Santa Rosa were being allowed to see what remains of their houses. Many had fled in the middle of the night, and some died while trying to get.
Related: Wildfire evacuees suffer average loss of $11,300: Square One Insurance
Meanwhile, authorities increased their count of homes destroyed to 8,400 from fewer than 7,000 a day earlier as crews continued assessing fire damage. California’s insurance commissioner has said preliminary estimates of the wildfire losses exceed US$1 billion and that the figure is expected to rise.
Daniel Berlant, a spokesman with the California Department of Forestry and Fire Protection, said crews have almost finished their damage assessments.
“We’re getting back into the areas where homes are hard to access and hard to reach. That’s why these numbers are trickling in,” Berlant said.
The fires that broke out Oct. 8 north of San Francisco in California’s famed wine country and other nearby areas killed 42 people. One wildfire in Sonoma County killed 22 of them, making it the third deadliest fire in California’s history.
– With files from the Santa Rosa Press Democrat
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B.C.’s Greens put ride-hailing on legislature agenda with private member’s bill

Party leader says it’s time to make a move after seven years of discussion
Dirk Meissner, The Canadian Press on October 20, 2017

The Green party is taking its third run at bringing ride-hailing to British Columbia, tabling a private member’s bill to pave the way for transportation companies like Uber and Lyft.Green Leader Andrew Weaver said Thursday the governing New Democrats and Opposition Liberals are failing to deliver on campaign promises made during last spring’s election to have ride-hailing in place by the end of the year.
Related: Turo expands in Canada with official B.C. launch
Weaver said there is support for the service and it can work alongside the taxi industry.
He called on the NDP and Liberals to work together with the Greens to implement ride-sharing as soon as possible.
“There’s three-party agreement here,” Weaver said shortly after introducing the bill in the legislature. “So let’s do it. We’ve talked about it for seven years, it’s time to move forward.”
Private member’s bills rarely become legislation and even though ride-hailing has the support of all parties in the legislature, the road ahead does not appear to be clear.
From the archives: Ontario insurers can now develop fleet insurance for Uber drivers
The New Democrats said they need time to study ride-hailing and its impact on the taxi industry before introducing legislation next fall.
Premier John Horgan said at least six pieces of legislation must be amended to make way for ride-sharing, including a transportation law that dates back to the 1920s.
Weaver said there is nothing stopping the government from introducing a ride-sharing law and making necessary changes as required.
“This is nothing more than an excuse in my view to delay, and I don’t think we need to delay,” he said.
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Leaders require flexibility and adaptability: JLT Canada Public Sector Summit

War Child Canada founder shares her experiences
Greg Dalgetty, Editor on October 20, 2017

Samantha Nutt, founder of War Child Canada, described the traits required by great leaders at the JLT Canada Public Sector Summit on Friday.“Leadership is a test of endurance,” she said. “To lead change, you have to be flexible and adaptive.”
Related: Criminals evolve, but crime remains the same: JLT Canada Public Sector Summit
Nutt shared some of her harrowing experiences doing humanitarian work in the war-torn Democratic Republic of the Congo, and urged attendees not to be discouraged when faced with adversity.
“If it’s hard, it’s because what you’re doing is important,” she said. “I’ve found, paradoxically, that when you feel you’re least equipped to face it, that’s when our leadership and participation is needed most of all.”
Listening to opposing viewpoints is also a key characteristic of great leaders, Nutt added.
“Our reflexive response—especially in this social media climate—is to shout rather than listen. Everything is an echo chamber. We tend to see the opposing side as somehow ignorant or self-interested or a barrier to progress,” she observed. “Active listening is the most effective communication strategy in any given field. If you’re not getting anywhere, take the time to identify [your] allies, the people who can help you get the message out.”
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Hurricanes, earthquakes estimated to cost insurers US$95 billion: Swiss Re

The reinsurer estimates its own payout at US$3.6 billion
The Associated Press on October 20, 2017

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Hurricanes Harvey, Irma and Maria, as well as two recent earthquakes in Mexico likely cost the insurance industry about $95 billion, said Swiss Re, one of the world’s biggest reinsurers.The Zurich-based company, which as a reinsurer provides backup policies to companies that write primary insurance policies, said Friday that the claims process is ongoing and estimates could evolve.Related: Companies increasingly want cover for intangible assets, earnings: Swiss Re
Swiss Re expects its own payouts linked to the natural disasters will be about $3.6 billion, including $175 million for the Mexico earthquakes alone.
A company statement didn’t break down the costs by hurricane. In an email, Swiss Re’s vice-president for communications, Willy-Andreas Heckmann, said the company would provide further details with its third-quarter results report next week.
CEO Christian Mumenthaler called the catastrophes “extremely powerful” and said Swiss Re “can support our clients when they need us most.”
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Vantage Production Says ‘Aloha’ to New Client

Leading Hawaii mortgage lender selects VIP from Vantage Production to enhance marketing capabilities and drive continued growth
Press Release – updated: Oct 20, 2017 10:00 EDT

RED BANK, N.J., October 20, 2017 (Newswire.com) – Vantage Production, LLC, a leading provider of mortgage industry sales and marketing automation solutions powered by CRM data, announced today that its VIP marketing platform has been selected by American Savings Bank (ASB) in Hawaii.
“At ASB, we are committed to making banking easy. In doing so, we invest in smart software solutions to help make dreams possible for our customers,” shared Konrad Ikei, vice president and retail loan products manager, marketing & business development, ASB. “With VIP, our mortgage loan originators will gain the resources and tools they need to communicate with customers and REALTORS® throughout the end-to-end homebuying process.”
VIP from Vantage Production will provide ASB with a marketing automation platform which is fully integrated with the bank’s loan origination software (LOS). With this platform, teammates will no longer need to toggle between multiple systems.

With VIP, our mortgage loan originators will gain the resources and tools they need to communicate with customers and REALTORS® throughout the end-to-end homebuying process.
Konrad Ikei, Vice President & Residential Loan Product Manager, American Savings Bank

“We are thrilled that ASB selected VIP as their new marketing automation platform,” said Todd Ballenger, executive vice president of Vantage Production. “It is our goal to provide the very best solutions that empower our clients to close more loans.”
About Vantage Production
Vantage Production, LLC is the nation’s premier provider of content, technology and services supporting the sales and marketing of mortgage products. With more than 15 years’ experience serving tens of thousands of mortgage loan originators, Vantage Production empowers lenders to close more loans and minimize risk with solutions that are designed by mortgage experts, for mortgage experts. For more information, please call (800) 963-1900 or visit www.VantageProduction.com.
About American Savings Bank
American Savings Bank (ASB) has been serving Hawaii’s businesses and communities since 1925 and currently provides a full range of financial products and services, including business and consumer banking, home loans, insurance and investments. ASB is one of Hawai‘i’s leading financial institutions, with e-banking services and branch locations throughout the state offering evening, weekend and holiday hours. ASB provides Hawai‘i’s consumers and businesses with more extended weekday and weekend hours than other similarly sized local banks, as well as convenient in-store branches. ASB was the first Hawai‘i bank to introduce remote-deposit capture with a mobile banking application.
ASB matches its exceptional customer experience with an employee experience that has garnered local and national awards. ASB has been recognized locally as one of the “Best Places to Work” by Hawaii Business Magazine for eight consecutive years and honored nationally as one of the “Best Banks to Work For” by American Banker Magazine. Fortune Magazine has recognized ASB as one of the 100 Best Workplaces for Women and 50 Best Workplaces for Diversity. For more than 90 years, ASB has been helping build strong communities. Through its Seeds of Service program, ASB teammates have contributed more than 29,000 hours of volunteer service, and ASB has donated millions of dollars to Hawai‘i’s nonprofits and community organizations. For more information, visit www.asbhawaii.com or follow American Savings Bank on Facebook or Instagram.
Source: Vantage Production, LLC

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Swiss Re Adds Management Liability Coverage for Non-Profits, Private Companies

Swiss Re Corporate Solutions has expanded its Executive Risk product offering with the launch of SwissGuard, a multi-coverage, management liability policy designed for non-profit and private companies.
SwissGuard insures against directors and officers liability, employment practices liability and fiduciary liability for US-domiciled companies. It protects against claims derived from mergers and acquisitions activity, financial performance, employment matters and breach of fiduciary duty, among others. SwissGuard is available in all fifty states, including California. These products can be purchased individually or on a combined basis.
With the purchase of employment practices liability coverage, insureds will have access to employment practices risk management services, employment seminars and a call-in helpline.
SwissGuard also features a Public Company Coverage Quote section built into our base form.
SwissGuard provides tailored coverage to companies across sectors, including manufacturing, professional services, healthcare, education and retail. This product can be issued on admitted or non-admitted paper.
Swiss Re Corporate Solutions offers insurance capacity to mid-sized and large multinational corporations across the globe. Policies are underwritten on carriers licensed for the product and jurisdiction and range from standard risk transfer covers and multi-line programs, to highly customized products. Swiss Re Corporate Solutions serves customers from over 50 offices worldwide and is backed by the Swiss Re Group.

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Brown & Brown Acquires Louisiana Employee Benefits Firm

Brown & Brown of Louisiana LLC, a subsidiary of Florida-based Brown & Brown Inc., has acquired substantially all of the assets of Lapeyre, Staples & Robichaux, the companies announced.
Lapeyre, Staples and Robichaux, based in Houma, Louisiana, specializes in employee benefits insurance products and services.
Partners Chris Lapeyre, Ken Staples and Eldridge Robichaux have annual net revenues of approximately $2 million. They will continue to operate from their Houma location under the direction of Tommy Huval, regional president of Brown & Brown.
Brown & Brown Inc., through its subsidiaries, offers a broad range of insurance products and related services. Additionally, certain Brown & Brown subsidiaries offer a variety of risk management, third-party administration and other services.
Source: Brown & Brown

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Texas Windstorm Insurance Association Request to Raise Liability Limits Disapproved

Texas Insurance Commissioner Kent Sullivan has declined to approve a request by the Texas Windstorm Insurance Association to raise the maximum limits of liability on windstorm and hail policies.
TWIA in August filed a request to increase the limits for residential dwelling and individually owned townhouses and associated contents; contents of apartments, condominiums, or townhouses; commercial structures and associated contents; and governmental structures and associated contents.
The proposed changes would have raised limits on dwellings 0.9 percent from $1.77 million to $1.79 million; contents of apartments, condominiums, or townhouses 1.7 percent from $374,000 to $380,000; and commercial structures 1.1 percent from $4.42 to $4.47 million. The adjustments would have taken place on policies written or renewed on or after Jan. 1, 2018, and were based on the BOECKH Index as required by the state insurance code.
A hearing was held on the proposed change in maximum limits on Sept. 25; the order denying the change was issued on Oct. 16.
On Oct. 12, TWIA reported that its expected ultimate loss and loss adjustment expenses from Hurricane Harvey we be around $1.13 billion. At that time, TWIA had received 69,833 claims, including commercial, residential and manufactured housing. It had closed more than 50 percent of the claims received — 36,894 — and had paid approximately $460 million in claim payments, including closed and open claims, as of that date.

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